In light of the recent cyber attack on Change Healthcare, an event that has impacted over 100 services crucial to the operations of dental, pharmacy, medical records, clinical, patient engagement, revenue, and payment services across the United States, it’s vital for dental practices to adopt strategies to mitigate cash flow disruptions. This attack not only underscores the vulnerability of the healthcare sector to cyber threats but also highlights the need for preparedness in maintaining operational continuity.
Here are five actionable steps dental practices can take to navigate through the aftermath of the Change Healthcare cyber attack and safeguard their financial health:
Back Print Your Claims and Mail to Dental Insurance Companies
In response to the cyber attack, it’s essential to revert to manual processes for claim submission. By back printing your claims and mailing them directly to dental insurance companies, you can ensure that your claims are processed without relying on the compromised digital infrastructure. This method, albeit traditional, can provide a reliable alternative pathway for your claims during the recovery period.
Upload Dental Claims on Insurance Websites That Directly Receive Them
Leveraging the online portals of insurance companies that are not affected by the cyber attack can be a strategic move. By uploading your dental claims directly on these websites, you can bypass the disruptions caused by the attack and maintain a steady submission of claims, ensuring that your practice continues to receive reimbursements without significant delays.
Focus on All Aging Claims Submitted Prior to the Cyber Attack
To keep cash flowing into your dental practice, it’s crucial to focus on aging claims that were submitted before the cyber attack. Prioritizing these claims can help in recovering funds that are due to your practice, providing an essential cash influx during a time when new claim submissions may be delayed or complicated by the cyber attack aftermath.
Collect Copays at the Time of Service
Given the potential for delayed reimbursements and disrupted cash flow in the wake of the cyber attack, dental practices should hone in their collection of copays at the time of service. If your practice has previously been lenient about this, it’s time to refocus on this company guideline. Immediate copay collections can provide a crucial, immediate cash flow to support operational expenses during this turbulent period.
Be Mindful of Your Overhead
The financial impact of the cyber attack may not be fully realized immediately but could affect your practice’s cash flow in the coming 4-6 weeks. During this time, it’s wise to control overhead expenses rigorously. Evaluate all non-essential expenses and postpone lavish purchases to conserve cash. Managing your overhead carefully will be key to navigating through the next two quarters as the healthcare industry recovers from this cyber attack.
The cyber attack on Change Healthcare serves as a stark reminder of the ever-present cyber threats facing the healthcare industry. It’s a great reminder to ensure your own cyber protection is in place. By taking proactive steps to manage cash flow and safeguard sensitive information, dental practices can not only navigate through the immediate aftermath of such attacks but also strengthen their resilience against future cyber threats in their own companies. It’s imperative for practices to continually review and update their cyber security measures and emergency response plans to protect their operations, financial health, and the privacy of their patients.
Hollie Bryant-Foust
CEO & Founder
