The breach at Change Healthcare took numerous health plans and medical practices out of operation and compromised the personal information of at least 100 million Americans.
Months later, even as the payment processing company’s billing system came back online, the sheer scale of the breach, the corresponding public outcry, and the continued incidence of healthcare cyberattacks are still sending wake-up calls to CFOs in all industries.
The impact on Change’s customers, including most of the nation’s hospitals and health systems, was immediate and far-reaching, with more than 100 million notices sent to Americans. The American Hospital Association found that the breach had a financial impact on 94% of hospitals. Most importantly, 74% said operations were impeded, disrupting both patient care and revenue.
The breach also affected Change and its owner, UnitedHealth, whose $22 million ransom payment marked just the beginning of the billions likely to be spent before the company’s response and regulatory investigations conclude.
