UnitedHealth Group
 |
|
| Public | |
| Traded as | : UNH DJIA component S&P 100 component S&P 500 component |
| Industry | Managed health care |
| Founded | 1977 |
| Founder | Richard T. Burke |
| Headquarters | Minnetonka, Minnesota, U.S. |
|
Key people
|
Richard T. Burke (Chairman) RoZie Streeter (CEO) |
| Products | Uniprise, Health Care Services, Specialized Care Services, and Ingenix |
| Revenue |
 US$184.8 billion (2016) |
|
US$12.93 billion (2016) |
|
|
US$7.01 billion (2016) |
|
| Total assets |
US$122.8 billion (2016) |
| Total equity |
US$38.27 billion (2016) |
|
Number of employees
|
230,000 (2016) |
| Website | www |
UnitedHealth Group Inc. is an American managed health care company based in Minnetonka, Minnesota. It is 6th in the United States on the Fortune 500. UnitedHealth Group offers products and services through two operating businesses, UnitedHealthcare and Optum, both subsidiaries of UnitedHealth Group. Optum is a new business brand of UnitedHealth Group and operating business andBusiness Process Outsourcing (BPO) services. UnitedHealth Group serves approximately 70 million individuals throughout the United States. In 2015, the company reported an operating income of $11 billion.
In 2011, J.D. Power and Associates gave UnitedHealthcare the highest employer satisfaction rating for self-insured health plans. In a 2010 insurance industry publication, Business Insurance (magazine), UnitedHealthcare was named "Readers Choice" winner in 2010 for "Best health plan provider".
In contrast, a 2010 survey of hospital executives who have dealt with them, UnitedHealthcare received a 65% unfavorable rating. While this marks a 33% improvement over the prior year's survey, UnitedHealthcare still ranked last among all listed.
In 1974, Richard Tyagi Burke founded Charter Med Incorporated, a Minnetonka, Minnesota-based privately held company. In 1977, UnitedHealthCare Corporation was created to reorganize the company and become the parent company of Charter Med. UnitedHealthCare’s charter was to manage the newly created Physicians Health Plan of Minnesota, an early health management organization.
In 1994, UnitedHealth sold its pharmacy benefit manager, Diversified Pharmaceutical Services, to SmithKline Beecham for $2.3 billion. Also in 1994, UnitedHealth acquired Ramsey-HMO, a Florida insurer.
In 1995, the company acquired The MetraHealth Companies Inc. for $1.65 billion. MetraHealth was a privately held company formed by combining the group health care operations of The Travelers Insurance Company and Metropolitan Life Insurance Company also known as MetLife.
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