Teacher
Professional
- Messages
- 2,670
- Reaction score
- 775
- Points
- 113
Financial disruptions have rocked the healthcare industry across the country.
The cyberattack on Change Healthcare continues to have a significant impact on the economy of the healthcare industry, causing serious disruptions to major market players, including hospital and pharmacy chains. According to experts, losses can reach more than $100 million per day.
The head of the information security company First Health Advisory, Toby Walker, clarified that this is not so much about direct financial losses as about deferred income (deferred income), which is vital for the daily activities of many large medical systems.
Walker strongly recommends focusing on financial stability and business continuity issues, rather than just the causes and mechanisms of penetration into Change Healthcare systems.
Problems with cash flow caused disruptions in the work of medical institutions across the country, especially in terms of processing insurance claims in the pharmacy segment. The last update from the company was published on March 5:
"The pharmacy chain is undergoing final end-to-end testing with our partners. We expect our Change Healthcare pharmacy chain to be operational again for most application senders as early as March 7. This will allow pharmacies to apply for prescriptions in real time and receive payments on applications, " says the Change Healthcare website.
Hospital representatives express dissatisfaction with the support program from the Optum division of UnitedHealth Group, which owns Change Healthcare, pointing out insufficient assistance in reimbursing costs for services rendered.
The CEO of the Florida Hospital Association noted that in this state alone, total losses can exceed $1 billion. Other market participants report losses of $100 million per day.
According to Guoker, the crisis situation is complicated by the lack of sufficient financial reserves to overcome the current difficulties. However, there is hope for support from the federal Government. Democratic Senator Charles Schumer has asked the Centers for Medicare and Medicaid Services (CMS) to provide support similar to that provided during the COVID-19 pandemic.
The Department of Health and Human Services said that CMS will indeed provide additional information for receiving" expedited payments " by service providers. The disruption caused by the Change Healthcare incident affects all levels of healthcare, from large to small service providers, making the situation critical for the entire industry.
Recall that in February, a cyberattack on the UnitedHealth Group division disrupted the turnover of medicines and insurance in pharmacies across the United States, causing significant difficulties for health workers. Because of the incident, medical institutions faced an increased burden on doctors and pharmacies – now they have to look for alternative ways to apply for insurance.
The cyberattack on Change Healthcare continues to have a significant impact on the economy of the healthcare industry, causing serious disruptions to major market players, including hospital and pharmacy chains. According to experts, losses can reach more than $100 million per day.
The head of the information security company First Health Advisory, Toby Walker, clarified that this is not so much about direct financial losses as about deferred income (deferred income), which is vital for the daily activities of many large medical systems.
Walker strongly recommends focusing on financial stability and business continuity issues, rather than just the causes and mechanisms of penetration into Change Healthcare systems.
Problems with cash flow caused disruptions in the work of medical institutions across the country, especially in terms of processing insurance claims in the pharmacy segment. The last update from the company was published on March 5:
"The pharmacy chain is undergoing final end-to-end testing with our partners. We expect our Change Healthcare pharmacy chain to be operational again for most application senders as early as March 7. This will allow pharmacies to apply for prescriptions in real time and receive payments on applications, " says the Change Healthcare website.
Hospital representatives express dissatisfaction with the support program from the Optum division of UnitedHealth Group, which owns Change Healthcare, pointing out insufficient assistance in reimbursing costs for services rendered.
The CEO of the Florida Hospital Association noted that in this state alone, total losses can exceed $1 billion. Other market participants report losses of $100 million per day.
According to Guoker, the crisis situation is complicated by the lack of sufficient financial reserves to overcome the current difficulties. However, there is hope for support from the federal Government. Democratic Senator Charles Schumer has asked the Centers for Medicare and Medicaid Services (CMS) to provide support similar to that provided during the COVID-19 pandemic.
The Department of Health and Human Services said that CMS will indeed provide additional information for receiving" expedited payments " by service providers. The disruption caused by the Change Healthcare incident affects all levels of healthcare, from large to small service providers, making the situation critical for the entire industry.
Recall that in February, a cyberattack on the UnitedHealth Group division disrupted the turnover of medicines and insurance in pharmacies across the United States, causing significant difficulties for health workers. Because of the incident, medical institutions faced an increased burden on doctors and pharmacies – now they have to look for alternative ways to apply for insurance.
