UnitedHealth Group's health services division, Optum, has scored contracts to manage health systems' revenue cycle operations and is expecting double-digit revenue growth in 2023.
Here are seven updates about Optum Becker's has reported since Nov. 16.
- Optum will hire 575 employees from Owensboro (Ky.) Health and will begin managing the company's revenue cycle operations and IT services. The system's patient billing and care delivery network infrastructure will also be managed by Optum. The company said it is also launching a regional job training program and workforce development initiatives.
- Despite coming to an agreement to keep Regence BlueShield of Washington commercial members in-network at Optum's Polyclinic and Everett Clinic, the payer's Medicare Advantage members are still left in limbo. Regence's contract with the clinics expired Dec. 5.
- Optum will hire 1,400 employees from Brewer, Maine-based Northern Light Health and will manage the system's revenue cycle management, information systems, inpatient care management, analytics, project management office and supply chain.
- Optum acquired several providers in 2022, and is expected to close on its purchase of home health firm LHC Group for $5.4 billion in 2023.
- UnitedHealth Group expects Optum to see a long-term double-digit revenue growth rate and bring in between $212 billion to $214 billion in 2023 revenues. The healthcare giant projects growth margins of over 20 percent for technology products and low- to mid-single-digit growth for pharmacy care services.
- Optum is looking to grab top talent as massive layoffs take place across big tech. Optum CIO Phil McKoy wrote on LinkedIn in November the company is looking for "passionate technologists that want to help solve the tough healthcare challenges that we face."
- OptumRx will keep Humira in its drug formulary, in addition to three biosimilar competitors. Heather Cianfrocco, CEO of OptumRx, said at the HLTH conference in November that the group will keep Humira and the competing treatments available for patients.