Factbox-What’s the UnitedHealthcare enterprise that was led by slain CEO Brian Thompson?

By Michael Erman

NEW YORK (Reuters) -Brian Thompson, the CEO of UnitedHealth’s insurance coverage unit, was fatally shot in Midtown Manhattan on Wednesday morning in what police described as a focused assault by a masked assailant mendacity in wait simply earlier than the mum or dad firm’s annual investor convention at a Hilton Lodge.

Thompson, 50, had been with the corporate for 20 years and was CEO of UnitedHealthcare, the massive insurance coverage unit of UnitedHealth Group (NYSE:UNH), since April 2021. The next is what you could find out about UnitedHealthcare:

WHAT IS UNITEDHEALTHCARE’S BUSINESS? 

UnitedHealthcare is the biggest U.S. well being insurer, offering advantages to greater than 50 million People. The corporate gives profit plans that pay for a lot of routine healthcare in addition to care for purchasers who fall ailing or get injured. The unit had $281.4 billion in income in 2023, almost double that of the following largest U.S. well being insurer. People routinely pay extra for healthcare than individuals in every other nation.

HOW DOES IT FIT INTO UNITEDHEALTH GROUP?

UnitedHealth Group is a $560 billion well being conglomerate that consists of two principal subsidiaries. Along with the insurance coverage enterprise that was led by Thompson, there’s Optum, which features a pharmacy advantages supervisor, specialty pharmacy, information analytics and physician and surgical practices.

It additionally contains know-how firm Change, which was the goal of a cyber assault this 12 months that impacted 1000’s of suppliers and tens of millions of healthcare clients.

The entire firm introduced in $371.6 billion in income final 12 months and had over 440,000 staff on the finish of 2023. Sir Andrew Witty turned CEO of UnitedHealth Group in 2021 after having run Optum. He was beforehand CEO of Britain-based pharmaceutical firm GSK from 2008 to 2017.   

HOW MANY PEOPLE DOES UNITEDHEALTHCARE COVER AND WHERE?

The corporate supplied medical insurance for greater than 50.6 million on the finish of the third quarter, together with 49.3 million individuals throughout the USA. Practically 30 million are enrolled in employer-based or different business insurance coverage, 15.3 million in government-backed Medicare plans primarily for these age 65 and older below Medicare Benefit applications, and 4.3 million in Medicaid plans for low-income individuals. The corporate’s international enterprise gives advantages to clients in over 150 different international locations, in line with its annual report.

Below Thompson, UnitedHealthcare grew the variety of individuals it covers domestically, which rose from round 44 million individuals when he took over as CEO in April 2021. 

HOW PROFITABLE IS IT?

In 2023, the insurance coverage enterprise earned $16.4 billion, up almost a 3rd from 2020, the 12 months earlier than Thompson took over as CEO.