CMS Says Preparing To Close Program That Addressed Medicare Funding Issues Resulting From Change Healthcare Cyber-Attack; Payments Under Accelerated And Advance Payment Program For Change Healthcare/ Optum Payment Disruption Will Conclude On July 12; After July 12 Will No Longer Accept New Applications For CHOPD Accelerated Or Advance Payments
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The Centers for Medicare & Medicaid Services (CMS) is preparing to close a program that addressed Medicare funding issues resulting from a cyber-attack on Change Healthcare. Payments under the Accelerated and Advance Payment Program for Change Healthcare/Optum payment disruption will conclude on July 12. After this date, CMS will no longer accept new applications for accelerated or advance payments under this program.
June 17, 2024 | 8:19 pm
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NEGATIVE IMPACT
Change Healthcare is directly impacted by the closure of the CMS program addressing Medicare funding issues due to a cyber-attack. Payments under the program will end on July 12, potentially affecting the company's cash flow and financial stability.
The end of the CMS program could negatively impact Change Healthcare's cash flow and financial stability, as they will no longer receive accelerated or advance payments to address the disruption caused by the cyber-attack.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
UnitedHealth Group, the parent company of Optum, may experience indirect effects from the closure of the CMS program addressing Medicare funding issues due to the Change Healthcare cyber-attack. The end of payments on July 12 could impact Optum's operations.
While the direct impact is on Change Healthcare, UnitedHealth Group's Optum could face operational challenges due to the end of the CMS program, potentially affecting its financial performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50