UnitedHealth Group's CEO said the company was "over-optimistic" about how quickly business would return to normal following the Change Healthcare cyberattack.
The February ransomware attack delayed payment and claims processing for healthcare providers around the country, as UnitedHealth subsidiary Change Healthcare handles an estimated 1 in 3 healthcare transactions.
"We were a little optimistic in hindsight at the pace at which we thought people would come back in terms of putting their flow through the system once it was reconnected," UnitedHealth CEO Andrew Witty said in a July 16 earnings call. "I think as we've looked to the last several weeks — that momentum and pace in particular, as we look at new clients come in and as well as returning clients — [we] feel good about where we are now. So I think [we were] probably a little over-optimistic three months ago."
Executives said that Change Healthcare's IT systems are mostly restored and that the company continues to catch up on its claims backlog.
"We're not only trying to bring volume back into our current customers. We're also working to bring new clients in, and that's exciting because this event has really transformed the marketplace," OptumInsight CEO Roger Connor said in the call. "They're looking for … access to innovation, access to security in the system, and that's what we've brought back. We've brought back a very secure system, and that is resonating. We're seeing that momentum."