UnitedHealth CEO on slow Change cyberattack recovery

UnitedHealth Group’s CEO, Andrew Witty, admitted that they were overly optimistic about how quickly providers would reconnect with Change Healthcare after a cyberattack. The company now expects to face up to a $1.9 billion post-tax hit from the attack, higher than the initial estimate of $1.6 billion. Most of the expense is due to providing loans to providers and sending notifications to affected patients. Witty acknowledged that they were too hopeful about the pace at which providers would return to the system once reconnected. This news came during the company’s second-quarter earnings call.

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