US government urges insurance companies to make advanced cyberattack payments.

March 14, 2024
1 min read




Summary of US Government Call for Insurance Companies to Make Advanced Payments Following Cyberattack Disruption

TLDR:

  • The US government is urging insurance companies to make advanced payments to health care providers following a cyberattack that disrupted insurance processing systems.
  • The cyberattack had a significant impact on Change Healthcare, a unit of health IT giant UnitedHealth Group, which processes 15 billion health care transactions annually.

Summary:

The US government has called for insurance companies to make advanced payments to health care providers in response to a cyberattack that disrupted insurance processing systems. This cyberattack had a significant impact on Change Healthcare, a unit of UnitedHealth Group, which processes a massive amount of health care transactions annually. The disruption has led to pharmacies and hospitals across the country being unable to process prescription bills, causing financial challenges for providers.

In a letter written by Health and Human Services Secretary Xavier Becerra and Acting Labor Secretary Julie Su, private sector leaders in the health care industry, especially payers, were urged to take action in response to the cyberattack. The letter specifically called on UnitedHealth Group to expedite the delivery of advanced payments to ensure that providers do not face cash flow challenges and encouraged more frequent communication.

This call for advanced payments highlights the impact of cyberattacks on critical systems and the importance of collaboration between government, private sector entities, and insurance companies to mitigate the financial effects on health care providers. By providing advanced payments, insurance companies can help ensure that providers are able to continue offering essential services to patients despite the challenges posed by the cyberattack.


Latest from Blog

Your Daily InsurTech Briefing – 2024-04-19

Let’s see what’s in the news today. Insurance platform bets on Artificial Intelligence to ease claims processing M-Tiba has integrated Artificial Intelligence (AI), into its insurance claims processing system. Read the original

Your Daily InsurTech Briefing – 2024-04-18

Let’s see what’s in the news today. Irish drivers in line for cash refunds following car insurance tech blunder An MEP says insurance companies need to be more vigilant. Read the original