CommonSpirit took $150M hit from ransomware attack

CommonSpirit estimates the ransomware attack that hit the health system last October cost the system around $150 million.

The Chicago-based health system reported the financial impact of the ransomware attack Feb. 15 in its annual earnings statement. The $150 million financial impact includes lost revenues due to business disruption and extra costs to fix the IT issues.

CommonSpirit hospitals reported EHR and IT system downtime during the attack, and the system is working with law enforcement agencies to investigate the attack. The health system reported 623,774 patients' data was breached during the attack and patients have sued the system for failing to prevent the attack.

"The organization is aware of lawsuits filed as potential class actions against CommonSpirit regarding the cybersecurity incident. There can be no assurance that the resolution of this matter will not affect the financial condition or operations of CommonSpirit, taken as a whole," states the financial report.

CommonSpirit reported consulting with insurance carriers about potential recoveries, but was unable to provide a timetable or amount of recovery.

The health system had a $451 million operating loss for the second half of 2022, with staffing expenses being a major challenge.

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