United Health Group

United Health Group Hakkında

UnitedHealth Group P.O. Box 1459 Minneapolis, MN 55440-1459

Firma Açıklaması

United Health Group, from being the largest payer in the country, covering 48.4 million people, to reaching 127 million people with health services and provider solutions in only a few short years.

Company Basics

Headquartered in Minnetonka, Minnesota, In 1974, UnitedHealth Group was started as Charter Med by a group of doctors and other medical professionals. Charter Med‘s parent company, United HealthCare Corp., was founded three years later.

In 1998, UnitedHealthcare underwent a significant restructuring, forming five separate companies: UnitedHealthcare, Ovations, Uniprise, Specialized Care Services, and Ingenix. That’s why they changed the name of United HealthCare Corp. to UnitedHealth Group.

Chief Executive Officer Andrew Witty leads UnitedHealth Group. Former Optum CEO and current UnitedHealth president and director, Mr. Witty, joined UnitedHealth in 2019. When David Wichmann retired in 2021, he took over as CEO.

UnitedHealth Group has over 340,000 employees all over the world.

Through its UnitedHealthcare and Optum subsidiaries, UnitedHealth Group offers health coverage to residents of all 50 states and more than 150 other countries.

In 2020, the corporation was expected to have handled approximately $1 trillion in gross billed charges worldwide and managed over $250 billion in total healthcare spending.

Financial Reports

UnitedHealth Group’s quarterly revenue was $72.3 billion, up 11% year-over-year in the third quarter of 2021. UnitedHealthcare and Optum each contributed double-digit expansion, and COVID-19 had less impact on finances.

The payer expects annual revenue of over $320 billion by 2022, up from an expected $287 billion in 2021.

UnitedHealthcare

As the most significant health insurance provider in the United States, UnitedHealthcare is UnitedHealth Group’s insurance division. In April 2021, Brian Thompson assumed leadership of UnitedHealthcare’s domestic and international operations as the payer’s chief executive officer. He has extensive experience running government programs like Medicaid and Medicare for the corporation.

In addition to Medicare and Medicaid, UnitedHealthcare provides commercial, individual, family, dental, and small and large business insurance.

As of December 2020, the insurer had 48.4 million medical members. The payer added 790,000 new members in the third quarter of 2021, bringing the total number of new members for the year to 2 million. According to these projections, UnitedHealthcare will have approximately 50,4 million medical members by the end of 2021.

UnitedHealthcare’s revenue in the third quarter of 2021 was $55.9 billion, an increase of 11% from the same period the previous year.

Optum

Optum, owned and operated by UnitedHealth Group, is a health services platform that provides options for managing populations, providing treatment, and enhancing clinical and business processes. Optum’s three leading platforms offer various health management, advice consulting, and pharmacy benefit management options. These are aptly named OptumHealth, OptumInsight, and OptumRx.

Optum employs 165,000 people globally and is based in Eden Prairie, Minnesota.

Optum provides services to over 127 million people and 200 health plans. Through OptumRx, its network of pharmacies exceeds 67,000.

In 2020, OptumRx oversaw spending on drugs of $105 billion, $46 billion of which was spent on specialty pharmaceuticals.

The number of people Optum helped grow by 1 million in the third quarter of 2021, contributing to a 13.9 percent year-over-year gain in revenue to $39.8 billion. OptumInsights and OptumRx grew by 12 and 6 percent over the previous year, respectively, out of its three primary divisions.

United Health Group Rankings, Ratings and Awards

On the 2021 edition of the Fortune Global 500, UnitedHealth Group comes in at number eight. It also placed fifth on the U.S. 500 list based on projected earnings for 2020.

For the eleventh year, the corporation topped Fortune’s list of the World’s Most Admired Companies in 2021. The “All-Star” label was bestowed upon it as well.

The Dow Jones Sustainability World and North America Indices have included UnitedHealth Group every year since 1999. It was the world’s runner-up in 2021, behind only Microsoft.

Keep reading us!

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

İletişim
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Giriş Yap

Login or create an account now to take advantage of Find Me An Insurer privileges, and it's completely free!