Healthcare Innovation October 17, 2024
Executives say providers are returning to the payment platform—but not bringing back all their business.
UnitedHealth Group Inc. booked $475 million in total costs related to the February cybersecurity breach at its Change Healthcare unit during the third quarter and its executives expect to incur another roughly $420 million in costs late this year.
As part of the Minnesota-headquartered insurance and health services giant’s Q3 report, CEO Andrew Witty and his team also adjusted their full-year estimates for the direct response and business disruption costs of the Change hack. They now think those expenses—which cover spending on both direct remediation and support payments to providers as well as broader disruption costs that are mostly lost revenue—will total $2.87 billion in...
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