Under the Microscope – The Change Healthcare Cyberattack

Unless you’ve been living under a rock, you’ve heard about the ransomware cyberattack that happened to Change Healthcare back in February and the crippling impact it has had on the healthcare industry. Change Healthcare processes over 15 billion transactions annually according to the Department of Health and Human Services. To put things into perspective, Change Healthcare adjudicates roughly one out of every three healthcare transactions. The cyberattack has severely disrupted operations for hospitals, health systems, medical practices, and pharmacies nationwide.


Change Healthcare was acquired by United Healthcare in 2022 after facing legal challenges related to potential antitrust violations. Given the magnitude of the Change Healthcare cyberattack, the federal government via the Office of Civil Rights (OCR) has stepped in and initiated an investigation regarding Change Healthcare’s compliance with the Health Insurance Portability and Accountability Act (HIPAA) rules.


Many practices have switched clearinghouses to help minimize the financial impact, but it is estimated that small practices and rural hospitals have experienced a 70% decrease in revenue over the past several months due to the cyberattack. Now more than ever, healthcare organizations must conduct a business impact analysis (BIA) to increase awareness and visibility into mission critical processes and the appropriate workarounds needed to prevent and/or mitigate financial losses as much as possible.
Read more about the latest developments in the Change Healthcare cyberattack investigation here:


https://www.crn.com/news/security/2024/unitedhealth-investigating-change-healthcare-data-leak-claims
https://www.axios.com/2024/04/17/congress-change-healthcare-cyberattack

Share:

Facebook
Twitter
Email
LinkedIn

Related Posts

Project Resume

This week’s newsletter features a resume service designed for Medical Coders by Medical Coders!  Project Resume was started in 2015 by Ann Barnaby to empower

Read More »