Cyberattack costs hit UnitedHealth in 1Q that still turns out better than expected
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 articles
7 Minnesotans accused in massive scheme to defraud pandemic food program to stand trial
MINNEAPOLIS (AP) — Opening statements are expected Monday in the fraud trial of seven people charged2024-04-30Chinese Prosecutors Protect Senior Citizens from Fraud
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30China Prepares to Launch Shenzhou
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-307th Sanya Int'l Cultural Industry Fair Opens in Sanya, S China's Hainan
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30Chinese FM holds talks with Bolivian counterpart
Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of Ch2024-04-30China Actively Optimizes COVID
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30
atest comment