Harvard Pilgrim's parent company attributes $100M loss to ransomware attack - Becker's Hospital Review

Harvard Pilgrim’s parent company attributes $100M loss to ransomware attack

Point32Health, the parent of Harvard Pilgrim Health Care, reported a $102.7 million operating loss for the first half of the year, which its chief financial officer largely attributed to an April ransomware incident that took place on its computer systems, The Boston Globe reported Aug. 18.

Scott Walker, chief financial officer at Point32Health, called the losses from the attack “transient and one time in nature.” He also said the company is still on a solid financial footing, according to the publication.

Point32Health reported $4.8 billion in revenue for the six months ending June 30. It is the parent company of Canton, Mass.-based Harvard Pilgrim Health Care and Watertown, Mass.-based Tufts Health Plan.

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Next Up in Cybersecurity

Harvard Pilgrim’s parent company attributes $100M loss to ransomware attack

Next Up in Cybersecurity

As AI identifies more at-risk patients, health systems face a capacity challenge

The most underrated threat in digital health

Abridge names chief technology officer

Next Up in Cybersecurity

Join the 500,000+ healthcare executives who start their day with Becker’s