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Healthcare providers from across the sector were also in attendance and voiced their concerns about the ongoing financial and operational impacts of the Change cyberattack. [60] [61] As of April 16, 2024, UnitedHealth Group had advanced payments of over $6 billion in assistance to health care providers affected by the cybersecurity attack. [62]
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UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare.
In the United States, a self-funded health plan is generally established by an employer as its own legal entity, similar to a trust.The health plan has its own assets, which, under the Employee Retirement Income Security Act of 1974 (“ERISA”), must be segregated from the employer's general assets.
UnitedHealth Group, in a public update Monday, says it's provided more than $2 billion to health care providers that have suffered financial disruption in the fallout of a wide-reaching cyberattack.
For the fiscal year 2022, UnitedHealth Group reported earnings of US$20.64 billion, with an annual revenue of US$324.16 billion. [83] UnitedHealth Group's 2023 revenue grew by $47.5 billion, or 14.6%, on annualized revenue of $371.6 billion. Operating income for 2023 was $32.4 billion (up 13.8%). Cash flows from operations were $29.1 billion. [84]
(Reuters) - UnitedHealth Group said on Wednesday it has advanced more than $3.3 billion in loans to care providers impacted by a cyberattack on the U.S. healthcare conglomerate' tech unit last month.