UnitedHealth Group recorded double-digit growth in revenues year over year across its lines of business at UnitedHealthcare and Optum, according to the company's fourth quarter earnings report released Jan. 13.
"We expect the efforts by the people of our company that led to strong performance in 2022 will define 2023 as well, especially delivering balanced growth enterprise-wide, improving support for consumers and care providers, and investing to make high-quality care simpler, more accessible and affordable for everyone," CEO Andrew Witty said.
UnitedHealth Group
- Total revenues in 2022 were $324.2 billion, up 12.7 percent year over year. In the fourth quarter, revenues were $82.8 billion.
- For 2023, the company projects revenues of $357 billion to $360 billion.
- Total net earnings in 2022 were $20.6 billion, up 16.4 percent year over year. In the fourth quarter, net earnings were $4.9 billion, with $4.76 billion attributable to shareholders.
- Full year and fourth quarter adjusted net earnings were $22.19 and $5.34 per share.
- The company's medical loss ratio was 82 percent for 2022 and 82.8 percent for the latest quarter. Days claims payable were 49.9 in the fourth quarter compared to 46.8 a year ago.
UnitedHealthcare
- Total revenues in 2022 were $249.7 billion, up 12 percent year over year. In the fourth quarter, revenues were $63 billion.
- Total earnings from operations in 2022 were $14.4 billion, up 20 percent year over year. In the fourth quarter, earnings were $2.9 billion
- Total domestic membership is 46.3 million, which grew by over 1.2 million in 2022 and was led by community-based and senior offerings. Commercial membership in 2022 is 26.7 million. There are 8.2 million Medicaid members, 7.1 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 2022 were $182.8 billion, up 17.5 percent year over year and led by Optum Health. In the fourth quarter, revenues were $47.9 billion.
- Total earnings from operations in 2022 were $14.1 billion, up 17.5 percent year over year. In the fourth quarter, earnings were $4 billion.
- Optum Health revenue per consumer increased 29 percent in 2022. Year end revenues were $71.2 billion.
- Optum Insight’s revenue backlog increased by $7.6 billion to $30 billion in 2022, driven by the Change Healthcare acquisition and growth of other managed services.
- OptumRx revenues grew 9.3 percent year over year, increasing to $99.8 billion.