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April 10, 2024
AMA: 80% of docs have lost revenue amid disruptions from Change Healthcare cyberattack
Summary
A recent American Medical Association (AMA) survey reveals significant financial and operational disruptions among physicians due to a cyberattack on Change Healthcare reported on February 21. The attack has forced many to adopt manual and electronic workarounds for essential tasks such as claims payments, with over 77% of respondents experiencing service disruptions. The consequences have been severe: 80% reported revenue losses due to unpaid claims, and many are diverting personal funds to maintain their practices. Despite attempts to mitigate impacts, including nearly $4.7 billion in advanced payments from UnitedHealth Group, many practices are under significant financial strain, contemplating bankruptcy or acquisition. AMA President Jesse Ehrenfeld emphasized the dual threat of cyberattack-related disruptions and Medicare payment cuts, predicting closures of practices and diminished patient care access.
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