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UNITEDHEALTH GROUP REPORTS HIGHLY PROFITABLE FOURTH QUARTER AND FULLY YEAR 2019 FINANCIAL RESULTS

 

UnitedHealth Group has reported highly profitable fourth quarter and full year 2019 financial results.  In a January 15, 2020 investors call, UnitedHealth Group reported full-year revenues of $242 billion, up $15.9 billion year-over-year. CFO John Rex reported that this growth was “driven by double-digit revenue growth in Medicare and across Optum.”  Fourth quarter adjusted net earnings grew 19%, or $3.90 per share, making full year earnings growth stronger than analysts’ expectations, growing 17% to $15.11 per share.

With respect to Medicare, CEO David Weichmann reported that “2020 individual Medicare Advantage annual enrollment results…were our strongest ever.”  Including dual eligible, UnitedHealth Group “expects to serve nearly 700,000 more people” in its Medicare Advantage products in 2020.

UnitedHealth Group divisions UnitedHealthcare and Optum both contributed to UnitedHealth Group’s strong earnings.  UnitedHealthcare’s revenues grew by more than $10 billion to $194 billion, with operating earnings increasing by 13% to $10.3 billion.  In reporting these earnings, UnitedHealthcare CEO Dirk McMahon stated that “UnitedHealthcare is deeply embedded in every aspect of the health system….”  Optum reported revenues of $113 billion, growing 12% year-over-year, with total operating earnings growing 14% to $9.4 billion.

Unfortunately, the attorneys of Whatley Kallas, LLP are seeing health insurance companies, including United, deny and underpay legitimate claims of our provider clients, a practice that no doubt adds to the profits of the health insurance companies.