From expanding its Medicare Advantage offerings to cutting 20% of prior authorization requirements, these are the 10 most read stories about UnitedHealth Group published by Becker's in 2023:
1. Optum added nearly 20,000 physicians in 2023, Optum Health CEO Amar Desai, MD, said in November. Dr. Desai said Optum now has nearly 90,000 employed or affiliated physicians and another 40,000 advanced practice clinicians serving tens of millions of people.
2. UnitedHealthcare announced in March it would eliminate 20 percent of its prior authorization requirements. It also said it would implement a national gold card program in 2024. The first wave of prior authorization cuts began in September for Medicare Advantage, commercial, Oxford and individual exchange plans.
3. UnitedHealthcare enhanced the benefits of its UCard, an integrated insurance ID card with many uses for Medicare Advantage and D-SNP members. In 2024, the company added a mobile product scanner members can use when shopping in store, along with a mobile UCard with a barcode that stores can scan at checkout.
4. In August, Greenville, S.C.-based Prisma Health asked a judge to issue a temporary restraining order against UnitedHealthcare, alleging the payer breached its confidentiality agreement with the system in the midst of contract negotiations. The judge denied Prisma's request, but the system asked the judge to reconsider in November. The two organizations have yet to reach a deal, with their current contract set to expire Jan 1.
5. UnitedHealthcare is expanding its Medicare Advantage footprint in 2024 to reach 96 percent of all Medicare-eligible individuals. Specifically, the payer is expanding standard MA plans to 110 new counties, reaching 700,000 more eligible individuals. In addition, 2.7 million more people will be eligible for chronic special needs plans. The payer also discontinued some Medicare Advantage plans for 2024.
6. In June, UnitedHealthcare executives warned of rising healthcare utilization rates as a higher-than-expected number of hip replacements, knee surgeries and other elective procedures occurred. Analysts from UBS Group AG suggested the rising popularity of pickleball among older adults could be one factor driving the higher rate of injuries, Bloomberg reported.
7. In October, UnitedHealth Group executives told investors the company wants to lower the price of GLP-1 drugs such as Ozempic and Wegovy, but it needs drug manufacturers to get on board. CEO Andrew Witty said prices have to come down for more people to gain access to the drugs. UnitedHealthcare CEO Brian Thompson said employers' attitudes toward the drugs are a "mixed bag," and the payer is working with drug manufacturers on value-based contracts.
8. Optum plans to merge with home and hospice care provider Amedisys in an all-cash deal valued at $101 per share, pending shareholder and regulatory approvals. UnitedHealth Group is rapidly growing its home care capabilities. In February, the company closed on its $5.4 billion acquisition of home health firm LHC Group.
9. Medicare Advantage rate changes from CMS will have a ripple effect through UnitedHealth Group's business in 2024, but its leaders told investors in November they have a sunny outlook despite lower projected growth in membership than previous years.
10. UnitedHealthcare is among other large payers facing lawsuits from members or their families alleging use of automated data tools to wrongfully deny members' medical claims. The allegations come amid broader ongoing conversations among policymakers around insurers' use of algorithms and artificial intelligence when processing claims or prior authorization requests.