Dec 1, 2020,09:21am EST Bruce Japsen Senior Contributor
UnitedHealth Group said its 2021
revenues will reach $277 billion next year as the company unveiled its
business strategy Tuesday.
Already the nation’s largest health
insurance company, UnitedHealth is poised to grow its top line by about 8%.
UnitedHealth operates commercial, Medicaid and Medicare Advantage plans via its
UnitedHealthcare health insurance unit and is also expanding its medical care
provider business across the country under its fast-growing Optum unit.
As the company began its annual
investor day virtually Tuesday morning, UnitedHealth said its 2021 outlook will
include revenues of “$277 billion to $280 billion, net earnings of $16.90 to
$17.40 per share, and adjusted net earnings of $17.75 to $18.25 per share.”
This growth will follow an updated
2020 performance that included an updated projection Tuesday of 2020 revenues
expected to be about $257 billion, “with net earnings to approach $15.90 per
share and adjusted net earnings to approach $16.75 per share.”
UnitedHealth chief executive David
Wichmann said the company’s strategy will continue to push a move to
value-based medical care models while escalating the use of technology to make sure
patients get care that they need when they need it. As one example in his
opening statements, he said patients will get more digital coaching along with
advancements in telehealth.
“United is how we will deliver the
future of health,” Wichmann told analysts and investors.
The meeting also marked the return of
Sir Andrew Witty, who left UnitedHealth Group as head of Optum earlier this
year on a leave of absence to a position at the World Health Organization to
aid the development of vaccines against Covid-19. “I look forward to the kind
of innovation this company can uniquely deliver,” Witty, who is president of
UnitedHealth and CEO of Optum, said speaking from the United Kingdom after he
was introduced by Wichmann.
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