United Health Care
 |
|
| 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) Dave Wichmann (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 sixth 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 healthcare service arm of UnitedHealth Group and the largest healthcare IT company in the world by revenue ($84 billion in 2016). Together, Optum and Unitedhealthcare serve approximately 115 million individuals in 2016. In 2016, the company reported an operating income of $13 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 2016, Optum was named "North America Company of the Year for Population Health Management" by Frost & Sullivan
Beginning in 2011 and continuing into 2012, UnitedHealth Group implemented an enterprise reorganization. This coincided with retiring brands adopted following the various acquisitions of previous years and adopting the unified brand UnitedHealthcare. The firm decided to refocus its UK business solely on commissioning support under the name of Optum, and exploit the opportunities presented by the United Kingdom Government's NHS reforms in 2011. Towards this end, it sold its six primary care clinics.
Optum include three divisions:
In addition, there are two shared service functions under Optum: Optum Technology and Optum Operations.
UnitedHealthcare include four divisions:
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.
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