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Ransomware attack costs Universal Health Services $67 Million

Universal Health Services (UHS) in its recent earnings report revealed that a ransomware attack last fall, left them with a whopping pre-tax loss of $67 million.  

In the report, UHS referred to the cyberattack as an “information technology security incident” and said that the incident forced them to suspend user access to several technology applications in the US during the attack.

However, according to UHS, no evidence of unauthorized access, copying or misuse of any patient or employee data has been found till date.

Also, UHS said that the majority of the financial loss was due to the diversion of ambulance traffic and elective/scheduled procedures at UHS acute care hospitals to competitor facilities while they were recovering from the attack.

Additionally, the report also revealed the UHS, due to the cyberattack, incurred significant internal and external labor expenses to restore IT operations and experienced delays in administrative functions such as coding and billing. You can read the full earnings report here

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