UnitedHealth Group Distributed Over $3.3 Billion to Healthcare Providers Affected by Cyberattacks

UnitedHealth Group Distributed Over $3.3 Billion to Healthcare Providers Affected by Cyberattacks

UnitedHealth Group Distributed Over $3.3 Billion to Healthcare Providers Affected by Cyberattacks

BollywoodFever, March 27: On Wednesday, UnitedHealth Group (UNH.N) announced it has provided over $3.3 billion in advances to healthcare providers affected by last month’s cyberattack on the insurance claims processor Change Healthcare.

UnitedHealth reported that over 40% of this funding went to essential safety net hospitals and federally qualified health centers that cater to high-risk individuals and communities.

UnitedHealth Group Distributed Over $3.3 Billion to Healthcare Providers Affected by Cyberattacks

Change Healthcare, crucial for the processing and clearing of insurance claims, handles approximately 50% of all medical claims for about 900,000 physicians, 33,000 pharmacies, 5,500 hospitals, and 600 laboratories.

The system was compromised on February 21 by a cybercriminal group known as “ALPHV” or “BlackCat,” leading to significant financial strain on smaller healthcare providers and disruptions that could take the nation’s largest health insurer several months to fully mitigate.

The Department of Health and Human Services is conducting an inquiry to determine if there was any compromise of protected health data.

Additionally, the State Department has issued a reward of up to $10 million for information leading to the identification of the hackers involved.

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