UnitedHealth advances $2 billion to providers post-cyberattack
UNH
-0.19%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
MINNETONKA, MN – In response to a significant cyberattack on the U.S. health system, UnitedHealth Group (NYSE: NYSE:UNH) has provided over $2 billion in financial assistance to healthcare providers facing disruptions. The company is actively working to restore services affected by the incident, with Change Healthcare (NASDAQ:CHNG) beginning to release medical claims preparation software today. This software distribution marks a crucial step in the gradual resumption of full services to customers.
UnitedHealth Group’s CEO, Andrew Witty, acknowledged the challenges faced by healthcare providers and encouraged those in need to seek support. The company has already reinstated Change Healthcare’s electronic payments platform and nearly all of the Change Healthcare pharmacy network services earlier this month.
To alleviate financial strain on care providers, UnitedHealth Group has implemented several initiatives, including the suspension of prior authorizations for most outpatient services and utilization review of inpatient admissions for Medicare Advantage plans. Providers seeking aid can register for the program through Optum’s website, where they can view pre-populated funding assistance levels and access additional support.
In addition to financial measures, the company is set to hold a detailed update call with customers and care providers later today. Educational webinars are also available to guide providers and customers on reconnecting to claims and payment networks and to inform them about the temporary funding assistance programs.
The cyberattack’s impact on UnitedHealth Group underscores the broader challenges within the fragmented U.S. health system, prompting the company to enhance support mechanisms for care providers. The information for this article is based on a press release statement from UnitedHealth Group.
