This latest cyber attack on Change Healthcare could be the
largest in U.S. history, already costing them millions of dollars,
but costing their customers much more...their personal information
being leaked on the Dark Web. Advizex, a leading technology
provider of infrastructure and enterprise application solutions,
emphasizes that healthcare records managed by business associates
present considerable risks to both healthcare providers and patient
care.
INDEPENDENCE, Ohio, May 9, 2024
/PRNewswire/ -- In 2023, more than 93 million healthcare records
were exposed or stolen in data breaches at business associates
compared to 34.9 million records in breaches at healthcare
providers. According to the HIPAA Journal, one of the biggest
challenges in healthcare cybersecurity is securing the supply
chain. The chart below shows data breaches by reporting entity.
This data highlights the importance of securing the supply
chain, conducting due diligence on vendors before their products
and services are used, and monitoring existing vendors for HIPAA
Security Rule compliance and cybersecurity.
The 2024 Change Healthcare attacks could prove to be the most
consequential cyberattack on the U.S. Healthcare system in
history.
- One in three patient records in the U.S. passes through
Change Healthcare.
- Before the attacks, Change Healthcare was handling 15
billion transactions a year with the capability to process 500
transactions per second. The AHA quotes the company as saying it
"touches one in three patient records," which comes out to around
$1.5 trillion in claims.
- Patient Care Compromised: As systems were locked and
data held ransom, patients were unable to access records, leading
to delayed treatments and forcing tough choices at pharmacies
regarding essential medications.
"Healthcare cyberattacks don't just breach data—they
endanger lives, escalating waiting times, prolonging hospital
stays, and tragically increasing patient mortality rates,"
warns Jon Latshaw, Verticals CTO
at Advizex.
- Operational Disruption: Healthcare providers are now
forced to manage claims and authorizations manually, a
labor-intensive process that harks back to pre-digital days. This
additional administrative burden adds strain in an industry already
plagued by burnout.
Small Practice Physicians Hit Incredibly Hard by This
Attack
Provider survey results from the American Medical
Association demonstrate that the economic harm to practices and
patient-care impact of the Change Healthcare cyber-attacks are
ongoing.
A recent AMA survey showed this attack to dramatically impact
the viability of physician practices across the country, and,
according to respondents, has serious implications for patient
care: 36 percent of respondents reporting suspension in claim
payment; 32 percent being unable to submit claims; and 22 percent
being unable to verify eligibility for benefits. Practices of 10 or
fewer physicians appear to be particularly hard hit, struggling to
keep their doors open.
"The disruption caused by this cyber-attack is causing
tremendous financial strain," said AMA President Jesse M. Ehrenfeld, MD, MPH. "These survey data
show, in stark terms, that practices will close because of this
incident, and patients will lose access to their physicians. The
one-two punch of compounding Medicare cuts and inability to process
claims as a result of this attack is devastating to physician
practices that are already struggling to keep their doors
open."
About Advizex
Since 1975, Advizex has been the
technology solutions leader, helping IT professionals solve complex
business challenges. We deliver solutions through our unparalleled
knowledge, proven approach, and deep partnerships. Advizex has
locations in 14 major markets and headquartered in Independence, OH. They are an affiliate of
Fulcrum IT Partners, who has an expanding portfolio of established
and successful IT solution companies in the UK, Canada, and the U.S., with proven expertise in
cybersecurity, cloud, consumption-based IT, and managed services.
Fulcrum is dedicated to using technology to deliver better business
outcomes to vertically focused industries through its breadth of
expertise and longstanding relationships with respected industry
partners.
For more information about how we can help secure your data
contact: Jon Latshaw, Verticals CTO,
jlatshaw@advizex.com
Sources:
- https://www.hipaajournal.com/healthcare-data-breach-statistics/
(figure 1)
-
https://www.ama-assn.org/practice-management/sustainability/change-healthcare-cyberattack
-
https://www.ama-assn.org/press-center/press-releases/physicians-struggle-keep-practices-afloat-after-change-cyberattack
Caitlin Davies
Communications and Events Manager | Advizex
M: 440.935.5083
SOURCE Advizex