From its president and COO announcing his retirement plans to an upheld win in a facility fee case, here are 12 updates on UnitedHealth Group that Becker's has reported since Jan. 18:
1. The nation's largest Medicare Advantage insurer saw rising MA costs at the end of 2023, but UnitedHealth Group CEO Andrew Witty told investors the company believes its pricing is "entirely appropriate" for the three years ahead.
2. UnitedHealth Group completed the sale of its health insurance and hospital operations in Brazil.
3. St. Louis-based SSM Health and UnitedHealth Group's Optum ended their administrative partnership around inpatient care management, digital transformation and revenue cycle management after the two organizations were not able to meet "mutually agreed-upon expectations."
4. Hundreds of people, including physicians, patients and Oregon Senate Majority Whip Sara Gelser Blouin, have urged the state health department to block Optum's proposed acquisition of Corvallis (Ore.) Clinic.
5. UnitedHealth Group president and COO Dirk McMahon plans to retire April 1.
6. UnitedHealth had a medical loss ratio of 83.2% in 2023.
7. UnitedHealth Group recorded the largest profit and most revenue among big payers in 2023.
8. In 2019, former UnitedHealth Group CEO David Wichmann made it clear to investors that Optum's growth strategy did not include ownership of inpatient care facilities. Instead, one piece of the plan to make Optum's care delivery arm, Optum Care, a $100 billion business by 2028 was partnering with health systems to manage administrative services such as revenue cycle management and information technology.
9. Minneapolis-based Allina Health is transitioning 2,000 IT and revenue cycle employees to Optum as part of a new partnership between the organizations.
10. UnitedHealth Group was named the most admired company within the health insurance and managed care industry by Fortune.
11. UnitedHealthcare is launching a curated vendor hub aimed at connecting self-funded employers and their employees to health services.
12. A federal appeals court upheld UnitedHealth Group's win in a class-action lawsuit filed by more than 200 physicians who said they were not paid facility fees for office-based surgeries.