UnitedHealth Group CEO Andrew WItty said on Thursday the company is confident it will be able to grow its business in fiscal year 2025. His optimism comes shortly after the head of its insurance unit was gunned down in New York City, inciting a heated conversation about the role of the health insurance industry in the United States.
“The people of UnitedHealth Group remain focused on making high-quality, affordable health care more available to more people while making the health system easier to navigate for patients and providers, positioning us well for growth in 2025,” Witty said in the company’s earnings report Thursday.
The company reached $100.81 billion in revenue for the quarter. It came in slightly below Wall Street’s estimate of $101.76 billion.
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The company’s annual medical cost ratio — which is calculated by dividing total medical expenses paid by an insurer by the total insurance premiums it collects — jumped to 85.5%, up from 83.2% in 2023.
Revenue from premiums rose to $76.48 billion for the fourth quarter, up from $73.23 during the same period a year ago.
This marked the first quarter since Brian Thompson, United Healthcare’s CEO, was shot and killed outside a New York City hotel in early December in what police called a “pre-meditated, targeted attack.” As the manhunt for his killer began, scores of people unleashed their frustrations about the U.S. healthcare system online, with many of them even mocking Thompson’s murder.
Luigi Mangione was arrested and charged in connection with the Dec. 4 murder of Thompson.
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During the company’s earnings call, Witty thanked everyone for the “overwhelming expressions of condolence and support” following Thompson’s murder.
“Many of you knew Brian personally. You knew how much he meant to all of us, and how he devoted his time to helping make the health system work better for all of the people were privileged to serve,” Witty said, adding that Thompson “would dive in with passion and care in to find solutions to improve experiences, whether for an individual consumer or an employer or a public health agency.”
He continued saying that there are hundreds of thousands of nurses, doctors, caseworkers, customer service specialists, pharmacists and technologists within the company “who share that commitment and are determined to advance that work.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UNH | UNITEDHEALTH GROUP INC. | 520.19 | -23.16 | -4.26% |
“The task in front of us, all of us health care providers, payers, employers, drug companies and policymakers is to continue improving quality and health outcomes for individuals and their families while lowering costs for everyone,” Witty said.
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