U.S. health care providers may think their credibility has been damaged following recent cyberattacks. united health.
According to the rating agency Moody'sWhose projection Quoted in Seeking Alpha's Sunday (March 10) report.
Late last month, attack Hacker group Blackcat/ALPHV's claims service for UnitedHealth division Change Healthcare caused disruption to the healthcare system nationwide.
“The ultimate credit impact on providers will largely depend on the impact of late payments. They needed cash flow to cover their expenses,” said Kailash Chhaya, senior analyst at Moody's.
Chhayna noted that providers relying solely on Change will not be able to file claims, but larger providers using multiple systems will be able to offset the impact.
UnitedHealth announced last week that it would restore Change's billing network and software by the middle of this month and provide financial assistance to healthcare providers affected by the cyberattack. Moody's said the incident was “credit negative” for the company.
In response to the breach, the federal government last week Actions to support Hospitals and healthcare providers were affected by the hack.
The Centers for Medicare and Medicaid Services (CMS), a division of the Department of Health and Human Services (HHS), announced steps to expedite Medicare and Medicaid payments to affected people.
Still, concerns persist in the healthcare sector, with industry groups such as the American Hospital Association (AHA) and the American Medical Association (AMA) expressing concern that the government's current measures are insufficient to fully address the crisis. are doing.
And, as PYMNTS wrote last month, this crisis part of a broader pattern. In 2023, cyberattacks against the U.S. healthcare system increased in both volume and sophistication, with healthcare facilities affected by 226 digital attacks. 36 million people Even just in the first half of this year.
This type of attack is not limited to the medical field. for example, loan depot suffered a data breach in January that affected 16.9 million customers.Moving/storage company u-haul Last month, the company reported that it suffered a data breach in December that affected approximately 67,000 customers in North America.
Other recent violation hit SonyOwned by video game studio Insomniac and VF Co., Ltd.The owner of Vans, The North Face, Timberland and Dickies suffered a cyberattack in December. Fulfilling orders for the holiday season.
