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This week earnings call by United Health makes for an interesting read, as it starts by discussing the effect of the recent cyber attack on financial performance. Its interesting to note the language used in the call to describe the effects of the attack. The 1st quarter costs impact of $0.74 per share or $870 million and a full year impact of $1.15 to $1.35 per share. By my math that’s a full year impact of between $1.35 billion and $1.58 billion. It also gives an indication of market sentiment about the attack, that in ones opinion does not seem to be phased by the attack.
With 2023 revenues of $361 billion (https://lnkd.in/ej-NRZT6), it’s safe to say that the cyber attack itself will have little material financial effect on United Health. One wonders however about the broader political and regulatory effects of the cyber attack on the company? How will the cyber attack effect regulatory oversight and brand, given the broad reaching effect of the attack on U.S society.
This weeks Energy and Commerce health Subcommittee hearing raised many questions about the cyber attack, and cyber across the healthcare industry. Least of all the consolidation of critical healthcare providers, concentration risk and cybersecurity risk management across the healthcare sector.
@Thaddeus Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA
Veritas GRC UnitedHealth Group Federal Trade Commission U.S. Department of Health and Human Services (HHS) U.S. Securities and Exchange Commission House Committee on Energy and Commerce Federal Trade Commission
#cybersecurity #cyberriskmanagement #cyberregulation
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