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Episode 67: What We Can Learn from the Change Healthcare Cyber Attack
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The recent cyberattack on Change Healthcare has sent shockwaves through the healthcare market, underscoring the critical importance of cybersecurity in the healthcare sector. This event not only disrupted the company's operations but also had a cascading effect on physician practices and medical groups reliant on its services for billing, claims management, and healthcare IT solutions. It continues to cascade down to impact patients as well. The attack highlights the vulnerability of healthcare providers to cyber threats, which can lead to significant operational and financial repercussions.
Let’s understand some of the major effects of this particular cyberattack on the Healthcare Market and Physician Practices:
First and likely most concerning is the Disruption of Billing and Claims Processing. Many physician practices are experiencing delays in billing and claims processing, which is pivotal for maintaining cash flow. This disruption can lead to a backlog of unprocessed claims, affecting practices' revenue cycles and cashflow.
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