Common Well being Providers misplaced $67 million in cyberattack restoration

Common Well being Providers stated Thursday that the corporate misplaced $67 million within the second half of 2020 because of a September cyberattack.

The Sept. 29 malware assault brought about King of Prussia, Pa.-based UHS to quickly take all of its U.S. info expertise networks offline, together with techniques for medical data, laboratories and pharmacies. Servers weren’t fully restored till October.

That brought about some ambulance visitors and elective procedures at UHS’ acute-care hospitals to be despatched to opponents, the corporate stated. UHS additionally incurred labor prices to revive its IT operations rapidly and needed to delay some administrative capabilities like billing and coding till December, which affected fourth quarter money flows.

UHS estimates that it misplaced $12 million through the third quarter of 2020 and $55 million through the fourth quarter. Most of these losses had been tied to the corporate’s acute-care phase and had been tied to misplaced working revenue from decrease affected person exercise.

“Though we are able to present no assurance or estimation associated to the receipt timing, or quantity, of the proceeds that we could obtain pursuant to business insurance coverage protection now we have in reference to this incident, we imagine we’re entitled to restoration of the vast majority of the final word monetary impression ensuing from the cyberattack,” the corporate stated.

The corporate stated it labored with third-party IT and forensic distributors to research the assault and hasn’t discovered any “proof of unauthorized entry, copying or misuse of any affected person or worker knowledge has been recognized thus far.”

UHS shared details about the cyberattack with its fourth quarter earnings report. Over the last quarter of 2020, UHS had internet revenue of $308.7 million, in comparison with $245.2 million through the remaining quarter of 2019. The corporate attributed the rise largely to $200 million in grants, specifically the CARES Act. For 2020, UHS reported $944 million in internet revenue, up from $814.9 million in 2019.

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