Breach filing
ArchivedProfessional Finance Company, Inc.: 1,918,941 individuals, Jul 2022.
Professional Finance Company, Inc. reported a breach of unsecured protected health information to the HHS Office for Civil Rights on 1 July 2022. The filing records the organisation as a business associate in Colorado and lists 1,918,941 individuals affected, which makes it the 4th largest of the 139 Colorado filings on the register and the 6th largest of the 718 filings submitted nationally in 2022. Among the 14 Colorado filings made in 2022 it ranks 1st.
Individuals affected
1,918,941
As reported to HHS
Modelled cost (IBM 2025)
$307M
Upper bound, method shown
Rank in CO
4th
of 139 Colorado filings
Rank in 2022
6th
of 718 filings nationally
Section F.1 / The filing
As posted by HHS OCR
Every value below is the portal's own field for this filing, plus its rank within the register.
- Covered entity type
- Business Associate
- Individuals affected
- 1,918,941
- Breach submission date
- 1 July 2022
- Submission year
- 2022
- Type of breach
- Hacking/IT Incident
- Location of breached information
- Network Server
- Business associate present
- Yes
- State
- Colorado (CO)
- Portal status
- listed in the HHS OCR breach portal archive
- Rank in Colorado by size
- 4th of 139
- Rank in 2022 nationally
- 6th of 718
- Colorado median filing
- 3,845 individuals
- Register id (derived)
- CO-20220701-professional-finance
Section F.2 / In context
Where this filing sits in Colorado and in 2022
OCR classifies the incident as a hacking or IT incident, with the breached information held in a network server. Hacking/IT Incident is the type recorded on 83 of the 139 Colorado filings (60%) and on 79% of all filings submitted in 2022. Network Server appears on 45% of Colorado filings.
A business associate is recorded as present on the filing, as it is on 24% of Colorado filings. At 1,918,941 individuals the breach is 499 times the Colorado median filing of 3,845 and 480 times the national median of 4,000 across all 7,884 filings. It is one of 149 filings on the register of one million or more individuals.
As of 28 August 2026 the case is listed in the HHS OCR breach portal archive. OCR's closing summary of the case is reproduced in full below.
Colorado's breach notification statute (C.R.S. 6-1-716) requires notice to affected residents within 30 days of determining a breach occurred. Its attorney general threshold: 500 or more Colorado residents. The HIPAA Breach Notification Rule ran alongside it: notice to affected individuals and to HHS without unreasonable delay and no later than 60 days after discovery, which is the clock that put this filing on the portal.
Multiplying 1,918,941 individuals by IBM's $160 customer-PII cost per record (Cost of a Data Breach 2025, the figure the site's calculator uses) gives a modelled $307M; the 2026 edition's $192 gives $368M. Both are modelled estimates with the method shown, not costs disclosed by Professional Finance Company, Inc.. Because the filing is above the roughly 100,000-record range in which the per-record figure is reliable, the result is an upper bound, not an estimate: fixed costs are spread across far more records at this scale.
Section F.3 / OCR closing summary
The portal's archived description, in full
Written by the Office for Civil Rights when the case was closed and reproduced verbatim from the HHS export.
The business associate (BA), Professional Finance Company, reported that it experienced a ransomware attack that compromised the protected health information (PHI) of 1,918,941 individuals. The PHI involved included names, addresses, birthdates, Social Security numbers, and financial and health insurance information. The BA notified HHS, affected individuals, the media, and provided substitute notice. In response to the breach, the BA implemented additional administrative, technical, and security safeguards.
Section F.5 / Modelled cost
1,918,941 individuals through IBM's per-record figures
Modelled cost / method shown, not a disclosed cost
Upper boundIBM 2025 customer PII, $160 per record
$307M
1,918,941 x $160
IBM 2026 customer PII, $192 per record
$368M
1,918,941 x $192
Method: individuals affected, as reported by Professional Finance Company, Inc. to HHS, multiplied by IBM's customer-PII cost per record (Cost of a Data Breach 2025 Figure 6 and the 2026 edition). No cost has been disclosed by the entity for this filing; the figure is a planning estimate, not a fact about the breach. IBM's per-record figures come from mid-volume breaches and IBM cautions against applying them to breaches involving millions of records; the site's per-record page explains where the multiplication holds and where it breaks down.
Context: IBM's average cost of a healthcare breach is $6.64M in the 2026 report ($7.42M in 2025); the global average across all sectors was $4.44M in 2025.
Cost per record: method and limits / Healthcare breach cost, IBM 2026
Section F.6 / Notification clock
Colorado statute and the HIPAA rule
State notification statute
Colorado: C.R.S. 6-1-716
- Notice to individuals
- Within 30 days of determining a breach occurred
- Attorney general threshold
- 500 or more Colorado residents (Within the same 30-day window)
- Private right of action
- No: Only the Colorado Attorney General may enforce
- Penalty
- Treated as a deceptive trade practice; up to $20,000 per violation with no aggregate cap
The HIPAA Breach Notification Rule runs alongside the state statute: notice to affected individuals and to HHS without unreasonable delay and no later than 60 days after discovery.
Section F.7 / Peer filings
Colorado filings closest in size
Neighbours by size rank among Colorado filings in 2022, topped up from other years where 2022 has too few. Filings of 10,000 or more link to their own page.
| Covered entity | Type | Individuals | Submitted | Breach type | Location | BA |
|---|---|---|---|---|---|---|
| Colorado Department of Health Care Policy & Financing | Health Plan | 4,091,794 | 11 Aug 2023 | |||
| DaVita Inc.Open | Healthcare Provider | 2,689,826 | 1 Aug 2025 | |||
| Summit Pathology and Summit Pathology Laboratories, Inc.Open | Healthcare Provider | 1,813,538 | 18 Oct 2024 | |||
| Salud Family Health | Healthcare Provider | 427,546 | 5 Oct 2022 | |||
| South Denver Cardiology Associates, PC | Healthcare Provider | 287,652 | 4 Mar 2022 |
Index / Companion schedules
13 HHS breach register
→Hub: every filing, by state, year and entity.
04 Biggest breaches
→Mega-breaches with primary-source cost figures.
Industry / Healthcare
→IBM 2026: $6.64M average, 13 years at #1.
Regulation / HIPAA penalties
→OCR enforcement tiers and the 60-day rule.
11 50-state laws
→Deadline, AG threshold and penalties per state.
Cost / Per record
→Where the per-record model is reliable.
Provenance
Source: U.S. Department of Health and Human Services, Office for Civil Rights, Breach Portal (breaches affecting 500 or more individuals), retrieved 2026-08-28. Public domain. Individuals affected and dates as reported by the covered entity.
Portal: ocrportal.hhs.gov breach report. Statutory basis: HITECH Act section 13402(e)(4): the Secretary must post a list of breaches of unsecured protected health information affecting 500 or more individuals. Breaches affecting fewer than 500 individuals are reported to OCR annually and are not posted, so they are not on this register. Status wording follows the portal's two tabs ("Cases Currently Under Investigation" and "Archive") as of 28 August 2026; a filing moves to the archive when OCR closes the case. Modelled costs on this site are a method applied to the reported count, using IBM Cost of a Data Breach per-record figures, and are never a cost disclosed by the entity. This row: hhs-breach-archive__2026-08-28.csv, export row 2385.
Corrections: if you represent a listed entity and the portal row has been amended, email [email protected] with the portal entry and we will re-pull the export.