Healthcare company Specialty Networks is preparing to pay out millions of dollars to settle a class action lawsuit filed over a massive data security incident.
According to the settlement administrator’s portal, Specialty Networks is setting up a $2.6 million settlement fund to handle claims arising out of the data breach that potentially exposed the sensitive information of current and former patients.
The data breach is believed to have occurred on or about December 18th of 2023 when,
“…an unauthorized actor potentially accessed data that included the following personal information of current or former patients of Specialty Networks’ provider clients: names, dates of birth, driver’s license numbers, Social Security numbers, medical record numbers, treatment and condition information, diagnoses, medications, and health insurance information.”
According to the settlement administrator’s portal, 395,866 people were potentially impacted by the cybersecurity incident.
The class members who present evidence of losses suffered as a result of the data breach could receive up to $5,000 per individual. A flat cash payment will be made available to the class members who submit claims lacking documented losses. The flat cash payment is estimated to be $100, but could rise or fall depending on the number of claims submitted.
As part of the settlement, Specialty Networks will also provide credit monitoring services, with an estimated annual value of $110 for three years, to the class members.
Claims must be submitted by October 13th. A final approval hearing will be held on November 13th.
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