The Fortune-500 hospital network owner is facing steep costs in damages after a cyberattack impacted patient care and billing in September and October.
The cyberattack that hit Universal Health Services (UHS) in September has cost the healthcare service provider a whopping $67 million in damages, according to financial statements.
A fourth-quarter earnings report last week from UHS highlighted the “significant incremental labor expense” needed to restore IT operations after the incident. UHS said that administrative functions—like billing—were also delayed, which had a “negative impact” on its operating cash flows in the fourth quarter.
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