Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Cyberattack costs hit UnitedHealth in 1Q that still turns out better than expected !

Cyberattack costs hit UnitedHealth in 1Q that still turns out better than expected

Time:2024-04-30 08:51:21 source:Stellar Spectacle news portal

UnitedHealth Group trounced first-quarter expectations even as costs from a cyberattack to its Change Healthcare business ate into the company’s performance.

The health care giant also said Tuesday that care patterns in the year’s first quarter met its expectations after soaring medical costs at the end of last year surprised Wall Street.

Company shares jumped in midday trading.

UnitedHealth said earlier this year that a ransomware group had gained access to some of the systems of its Change Healthcare business, which provides technology used to submit and process insurance claims. The attack disrupted payment and claims processing around the country, stressing doctor’s offices and health care systems.

Federal civil rights investigators are looking into whether protected health information was exposed in the attack.

UnitedHealth is still restoring several services from the February attack. It took an $872 million hit from it in the first quarter, but CEO Andrew Witty told analysts on Tuesday that the company expected to bring Change Healthcare back “much stronger than it was before.”

Related information
  • Scarred UNESCO World Heritage site Jiuzhaigou recovers after quake
  • Jury in Abu Ghraib trial says it is deadlocked; judge orders deliberations to resume
  • Elite female bodyguards reveal the fascinating secrets of protecting A
  • Jerry Seinfeld's commitment to the bit
  • The North London neighbourhood plagued by anti
  • USDA tells producers to reduce salmonella in certain frozen chicken products
  • Wade Rousse named new president of Louisiana's McNeese State University
  • Humza Yousaf 'cancels speech' as he desperately battles to stave off confidence vote
Recommended content
  • Chinese readers find new passion for scientific literature
  • Terrifying moment gunman, 22, opens fire on Birmingham street packed with bars and pubs
  • Antiques Roadshow guest receives SHOCKING appraisal after learning the secret history of her grandma
  • Here are 14 players to watch next season across the Southeastern Conference
  • Thai FM offers to resign after cabinet reshuffle
  • Private security firm says missile fire seen off the Yemen coast in the Red Sea near crucial strait