UnitedHealth Group reported double digit revenue growth across all lines of business in the third quarter and a 28.5 percent increase in net revenues, according to its earnings report released Oct. 14.
"The strength of our performance reflects the diligence and determination of our colleagues to improve people’s experience across the health care system and make high-quality care simpler, more accessible and more affordable," CEO Andrew Witty said.
UnitedHealth Group
- Total revenues in 2022 are $241.4 billion, an increase of 12.9 percent year over year.
- The company's operating costs were $219.8 billion as of Sept. 30, a 12.5 percent increase year over year.
- Total net earnings this year are $15.7 billion, an increase of 16.2 percent from $13.5 billion in 2021. In the third quarter alone, net earnings were $5.3 billion.
- The third quarter medical care ratio was 81.6 percent compared to 81.5 percent in the second quarter, and 83 percent in the third quarter of 2021.
- Days claims payable were 50.8 in the third quarter, compared to 50.6 in the second quarter.
UnitedHealthcare
- Total revenues in 2022 are $186.7 billion, an increase of 12.1 percent year over year.
- To date, 2022 earnings are $11.4 billion, an increase of 16.2 percent from $9.9 billion in 2021.
- Total membership has grown by 850,000 people in 2022, including 185,000 people in the third quarter. As of Sept. 30, domestic membership is nearly 46 million.
- Total Medicare Advantage membership is 7 million. Medicaid has 8 million members.
Optum
- Total revenues in 2022 are $134.9 billion, an increase of 17.8 percent year over year.
- To date, 2022 earnings are $10.1 billion, an increase of 17.7 percent from $8.6 billion in 2021.
- Optum Health revenue per customer increased 31 percent year over year.
- Optum Insight revenue grew 18 percent in the third quarter, and the division completed its merger with Change Healthcare.
- Optum Rx's total revenue grew 8 percent in the third quarter. Adjusted scripts increased to 359 million from 344 million year over year.