March 8 (Reuters) - Ratings agency Moody's said on
Friday that U.S. hospitals, physician facilities and other
medical providers could see a credit impact resulting from
disruptions from the hack at UnitedHealth's ( UNH ) Change
Healthcare, which processes medical insurance claims and
payments.
The unit, which processes about 50% of medical claims in
the U.S., was breached on Feb. 21 by a hacking group called
ALPHV, also known as BlackCat.
"The ultimate credit impact on providers will largely
depend on the effect of payment delays on cash flow needed to
meet expenses," said Kailash Chhaya, senior analyst for Moody's
Ratings.
Providers that rely solely on Change face an inability
to file any claims, Chhaya said.
The expenses can include labor to handle processing
claims through slower, even manual methods.
Many large providers use multiple systems, mitigating
effects of the disruption. The system shutdown has also affected
pre-treatment authorization, causing delays in administering
certain services.
UnitedHealth ( UNH ) on Thursday said it expects to
restore disrupted services
for medical claims and payments platforms by mid-March.
UnitedHealth ( UNH ) did not immediately respond to a Reuters
request for comment.
Last month, Moody's
said
the hack was a "credit negative" for the company.