UnitedHealth’s Evolution From Traditional Insurer Into Multifaceted Business Pays Off
The company on Tuesday reported a first-quarter profit of $2.84 billion, and its revenue rose 13 percent to $55.19 billion. In a health landscape where lines are becoming blurred between traditional roles, UnitedHealth sees success for taking the plunge into different waters.
The Wall Street Journal:
UnitedHealth Increases Guidance For Year
UnitedHealth Group Inc. posted a 31% increase in profit for its latest quarter and raised its earnings outlook for the year. UnitedHealth, the parent of the biggest U.S. health insurer, on Tuesday reported a first-quarter profit of $2.84 billion, or $2.87 a share, up from $2.17 billion, or $2.23 a share, a year earlier. The company earned $3.04 a share on an adjusted basis, compared with $2.37 a share. (Prang, 4/17)
Modern Healthcare:
UnitedHealth's First-Quarter Revenue Climbs As Medicare Advantage Membership Grows
As health insurance companies continue to evolve from their traditional role as claims processors to care facilitators and blur the lines between payer and provider, UnitedHealth leads the pack. Other insurers are playing catch-up. The insurer has been adding doctor practices and lower-cost outpatient facilities to its portfolio of businesses in a bid to better control where patients access care. Most recently, its Optum subsidiary in December said it would buy DaVita's medical group, which boasts 300 medical clinics, along with 35 urgent-care centers and six outpatient surgery centers. The insurer also picked up Surgical Care Affiliates, an operator of ambulatory surgery centers, and MedExpress, an operator of urgent-care clinics, in recent years. (Livingston, 4/17)
The Star Tribune:
UnitedHealth Group Hikes Outlook After Quarterly Profit Easily Beats Estimates
During a conference call Tuesday to discuss first-quarter results, Renfro said the venture fund will invest in a variety of emerging health care technologies including digital care, consumer care and health analytics with artificial intelligence, big data and machine learning. "A tremendous effort will go into ventures," Renfro said. "We hope to accelerate early-stage, open-market innovations across the breadth of the health care services marketplace, with up to $600 million in newly committed funds." (Snowbeck, 4/17)
