PriyaPatel
TLDR:
- Change Healthcare’s health insurance billing system is stabilizing after a cyberattack
- Small health clinics may still need assistance to stay in business
The health insurance billing system in the United States is stabilizing following an unprecedented cyberattack on Change Healthcare, a key company. Ninety-five percent of Change Healthcare’s health insurance claims are now being processed. However, small health clinics may still need assistance to ensure they can stay in business. The cyberattack, which took place on February 21, forced Change Healthcare to take computer systems offline, affecting electronic payments and insurance claims processing. The full financial impact of the hack is still unknown, with billions of dollars stopped flowing to health care providers. The government is investigating if Change Healthcare complied with federal law to protect patient data.
Key Points:
The cyberattack on Change Healthcare, a subsidiary of UnitedHealthGroup, disrupted health insurance claims processing and electronic payments, affecting one in every three patient records in the US.
While progress has been made in restoring services, small rural safety net providers still require cash assistance to stay afloat.
The government is investigating the financial impact of the hack and the compliance of Change Healthcare with federal data protection laws.
Despite the restoration of billing services, the pressure on the health care firm remains significant, with concerns for clinic closures and access to care for patients.
