UnitedHealth Group recorded double-digit growth in revenue year over year across its core lines of business at UnitedHealthcare and Optum, according to the company's third-quarter earnings report released Oct. 13.
UnitedHealth Group
- Total revenues in the third quarter were $92.4 billion, up 14% year over year.
- Total net earnings in the third quarter were $5.8 billion, up 11% year over year.
- The company's operating margin was 6.3% in the third quarter.
- The full-year adjusted net earnings outlook was raised to between $24.85 to $25.00 per share.
- The company's medical loss ratio was 82.3% in the third quarter compared to 81.6 percent the same time last year, driven by increased outpatient care activity, primarily among seniors, and business mix. Days claims payable were 50.7 in the third quarter compared to 50.8 a year ago.
UnitedHealthcare
- Total revenues in the third quarter were $69.9 billion, up 13% year over year.
- Total earnings from operations in the third quarter were $4.6 billion, up 21% year over year.
- UnitedHealthcare's operating margin was 6.6% in the third quarter.
- As of Sept. 30, total U.S. membership is 47.3 million, with commercial membership at 27.3 million. There are 8.1 million Medicaid members, 7.6 million Medicare Advantage members, and 4.3 million members with Medicare supplement plans. Part D plan membership is 3.3 million.
Optum
- Total revenues in the third quarter were $56.7 billion, up 22 percent year over year and led by Optum Rx.
- Total earnings from operations in the third quarter were $3.9 billion, up 7% year over year.
- Optum's operating margin was 6.9% in the third quarter.
- In the third quarter, Optum Rx revenues were $28.9 billion, Optum Health revenues were $23.9 billion and Optum Insight revenues were nearly $5 billion.
- Optum Health revenue per consumer increased 27% year over year, driven by the growth in patients served under value-based care arrangements and the continued expansion of services offered.