The health care giant said Wednesday that operating earnings from its Optum division grew nearly 10% to
That business served 100 million people last year and saw its revenue per customer increase by a third.
Operating earnings, which don't count interest expense and taxes, also soared for the company's UnitedHealthcare insurance side, which added more people through government-funded Medicare Advantage and Medicaid coverage. That business now covers more than 50 million people.
Company executives said Wednesday that COVID-19 costs were in line with expectations during the quarter and were balanced by a drop in doctor visits and other care.
A surge in cases from the omicron variant of the virus hit late in the quarter and has since bumped up patient hospitalization levels. But UnitedHealth said the severity of cases requiring hospitalization care seems to be lower so far.
Overall,
Removing one-time benefits and charges, per-share earnings were
Revenue jumped more than 12% to
UnitedHealth’s
The company said it pulled in more revenue per customer as it expanded and shifted more patients into value-based care. That involves reimbursing doctors and other care providers based more on how a patient does rather than for each service performed.
UnitedHealth and rivals like the drugstore chain and insurance provider
That approach can bring in more revenue for the care providing side of their businesses while also cutting costs on the insurance side.
Overall, UnitedHealth booked
For 2022, the company reaffirmed its forecast for adjusted earnings of between
Analysts expect, on average, earnings of
UnitedHealth shares climbed 2% to
The price of
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