How UnitedHealth Grew Larger Than The Biggest U.S. Bank
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- Опубликовано: 23 май 2024
- UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on market cap and revenue. It’s even bigger than JPMorgan Chase, the nation’s largest bank. Annual revenue has nearly doubled over the past decade when adjusted for inflation, from $144 billion in 2012 to $250 billion in 2022. The company’s growth was fueled by an acquisition strategy that has been largely free of regulatory scrutiny.
And it is a Wall Street darling, with experts optimistic about the company’s future: 22 of 25 analysts currently label it a buy.
“If I had to pick one stock, only one stock to buy, I’d buy United[Health],” said Ana Gupte, principal at AG Health Advisors.
UnitedHealth “has had superior stock performance over everybody else for two reasons,” said Lance Wilkes, managing director and senior research analyst at Bernstein Research. “One would be strategic vision and the other is strategic capital management.”
UnitedHealth has increased its annual revenue since 2012 by more than $100 billion, when adjusted for inflation. It achieved this by engaging in a unique acquisition strategy. It started with smaller deals that have grown while many of UnitedHealth’s competitors such as Aetna and Humana or Anthem and Cigna tried to broker much larger ones, only to be stopped by regulators.
Conversely, UnitedHealth leaned into a vertical-integration strategy, buying up smaller companies and building them into its growing health-care business.
UnitedHealth’s size makes it “relatively immune to economic cycles” due to the company’s wide diversity, Gupte said. “It makes it very attractive from an economic cycle and a macro environment perspective.”
Until recently, its acquisition strategy allowed it to grow without catching too much scrutiny from regulators. But in January 2021, UnitedHealth and Change Healthcare announced a nearly $8 billion all-cash deal that was challenged by the Department of Justice due to antitrust concerns.
Health-care companies “are becoming more and more [like] utilities,” Wilkes said. “Consequently, I think they’re going to have very large market shares because ... you wouldn’t want redundant services through the system.”
“I think at this point you we would consider UnitedHealth Group just kind of like ... core health infrastructure at this point in America,” said Matt Stoller, director of research at the American Economic Liberties Project and author of ″Goliath: The Hundred Year War Between Monopoly Power and Democracy.” “It’s too big to manage.”
“UnitedHealth Group is committed to improving the health system for everyone, advancing evidence-based practice and aligning incentives across the system to ensure people get the right care at the right time in the right place,” UnitedHealth Group told CNBC.
“Because we serve people throughout every aspect of the health system, we have a unique ability to identify opportunities to better integrate care and benefits, develop solutions and deploy them at scale to improve access, lower costs and make the experience better for patients and providers,” it said.
Watch the video above to learn how UnitedHealth Group grew so big and what that means for the U.S. health-care system.
Chapters:
0:00 Introduction
1:45 Growth strategy
4:57 Antitrust concerns
8:28 Becoming a utility?
Produced and Shot by: Charlotte Morabito
Additional Reporting by: Bertha Coombs
Additional Camera by: Mark Licea
Edited by: Nora Rappaport
Graphics by: Jason Reginato, Christina Locopo
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images
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How UnitedHealth Grew Larger Than The Biggest U.S. Bank
The fact that a health insurance company can be "attractive to investors" in the first place is the main problem. This should not be a profit-driven industry.
i worked in the medical field for 8 years and during those 8 years i noticed that the billers always hated working with united health care claims , they would just find way of not paying for services
Yup. Current medical biller, and they are my most disliked insurance to deal with. They come up with new reasons all the time to reject claims, and if all else fails, they just pay you wrong. Everything is a fight with them and costs your doctor more money to deal with in the end. Fewer options and monopolies will never be a good thing.
And that's why doctors are starting to refuse to take insurance at all. And you get stuck with the very worse doctors who are themselves crooks.
So true, I will never insurance with aarp or uhc
Wow, you found that too? I as the end user hated them since I started noticing less and less providers accepting them. If I may ask what were you working as?
@@darinherrick9224 unfair and wrong
When you have a huge healthcare conglomerate like UNH, you have a huge a huge conglomerate lobbying against universal healthcare.
Unless you’re so big that universal health is actually lucrative for you as a company 😮
ObamaCare is modeled after RomneyCare which is modeled after the Swiss healthcare system - the second most expensive in the world. The difference has been that the Swiss system has had outcomes comparable to other developed countries. But lately the Swiss system is degrading into the exploitive ObamaCare model.
"People will get healthier because it's all tied together" under one company... yeah right ok.
Now you can get denied by the same company at every level! Who needs heath care when the shareholders have money!
Theoretically, that comment makes sense...but more importantly, what is the reality though?
UHC is the legit worse, there are smaller companies like Aetna, BCBS that are far better. My employer forced me to buy UHC, that's how I knew my employer s*cked
That's the lie they kept spewing out, and some idiots actually believe it.
Lul
This is disgusting. Break them up. I guarantee you they spend a pretty penny to own half of Congress and they're probably a key reason our healthcare is getting so terrible and overpriced.
It's not a pretty penny for them, it's barely anything for em.
Ironic that you probably want a government monopoly instead of competition in a free market.
@@R3tr0v1ru5 What free market? It literally can't get any worse, and the entire system is controlled by a few monopolies, and they bribe the gov to avoid regulations. We have one of the worst systems in the developed world, so at least make it free instead of for-profit.
@@R3tr0v1ru5for health care yes, gov run monopoly is better, universal healthcare is better. Many countries have done it and done it well.
@@R3tr0v1ru5prívate options would still be available. Universal health care is much better and cheaper
Source: lived in Germany
It is really scary what is happening in US healthcare
Yep, get rid of government.
and how they want to spread to other countries like the UK
@@R3tr0v1ru5 Having even more greed will definitely help.
Nobody is more greedy than the government and nobody is as useless as the government.
@@TomNook.Hope Europe will be smart enough not to let this cancer spread
People don't get healthier, they just get to spend more when one company controls the entire healthcare chain.
Healthcare should not be this profitable. It needs to be broken up
They really care for their customers though.
** insurance should not be this profitable. We need a government insurance competitor that doesn’t make any profit to bring these private insurance companies to their knees. They’re too powerful and cocky to the actually people providing the healthcare like docs, nurses, techs.
@@alb12345672 they suddenly decided that after 5 years of taking my medication that I should start over the process of evaluating for my condition.
They kept citing prior approval but kept refusing my doctor's explanations. They suggested more tests but then refused to cover those tests.
After 4 months of trying I swapped to another plan with Aetna and got my medication in less than a week.
I absolutely despise United and everything they represent.
As a shareholder, I disagree. There is no inherent right to healthcare.
Imagine not being able to tell the difference between actual healthcare expenses and
fking insurance
I work for UHC. When I asked for a raise after one year I was told by my supervisor that I may get a dollar increase in my hourly wage at the end of the year. Let that sink in.
UHC is a terrible company to work in.
Hey guys, how are you doing with your investments? I know the market has been crazy lately.
@@caseymuller3480 That's too bad. I'm doing okay, but I'm not very confident about my portfolio. I feel like I need some professional advice.
@@joehopkins9749 You know what, guys? I have something to share with you. I recently started working with Robin Brezik and it has been a game-changer for me.
@@malcolmdoyle5385 Really? What do they do?
@@abircocci8157 They offer investment advice and help me with my investment goals, building my portfolio and also retirement planning. They are very professional and knowledgeable, and they tailor their services to my needs and preferences.
@@malcolmdoyle5385 please how can i get in touch with them?
I worked for United Health Care briefly and there's one thing I cannot forget, we spent DAYS discussing the whole company understanding each separate department and entity and I can tell you, days are not enough to fully grasp the extent of how big this company is. People would be calling in and asking for help about a specific service from a company I've never heard of, so I tell them that it's not us, until the end of the day when I talk to my manager and learn that that company is under United Healthcare. LOL
Mind elaborating that mate ?
@@Lessons253 elaborate what?
@@jaames how big and powerful the compamy really is?
@@Lessons253 i have no idea how powerful they are but as for my experience they are really big
@@jaames okay. Thanks anyways bro.
I work at UnitedHealth Group and I can say wholeheartedly it is a beyond massive organization.
Waiting for them to buy a fitness centers like a Planet Fitness or Esporta to add to their collection.
curious...what do you do there?
@@christopherreed3019 prolly find ways to overcharge ppl for their insurance, UHC is the worst of all the insurance companies out there
Wait till they get into the AI business and it's mass layoff time
The place i work at got acquired by them lol and can confirm it is indeed a very massive organization.
@@doords I absolutely agree with your AI comment. As soon as AI is advanced enough to take in premiums and deny claims, the CEO will layoff all the employees.
UHC is good at only one thing: efficiently moving wealth from healthcare consumers and taxpayers into its own pockets. To suggest it cares about people's health or the quality of healthcare in the US is laughable. And, they own the politicians and regulatory apparatus that supposedly keeps them in check, so it is just going to get worse. Ultimately, as the quality of care declines, the cost of healthcare in the US will become a crisis because borrowing from future generations to pay for today's perpetual skyrocketing costs just isn't sustainable, but that won't stop parasitic UHC executives from milking it for all they can get. Healthcare and health insurance is the new organized crime and this time, the government is its friend.
They reject everything but mail me letters saying my health is their first priority. Laughable
I had UHC... I quit it after they billed me twice the payment month. I called to request a refund or apply it for the following month... spoke with a rep and she asked me how to subtract the current year from my birth year then asked me how old I am.
If you can't do simple math then don't work where numbers are important like "randomly" billing people twice.
They can do math. This is a game a lot of insurers pay. It's basically a form of gaslighting. They pretend to not understand the most basic things hoping that you'll just get angry and give up. Apparently it works because it's a widespread tactic
UHG doesn't have the customer's health in mind. They just have their pocketbook in mind. That's why they want it to be an ecosystem you can't escape - so you're always forced to pay them from birth to death. That's also why they go out of their way to avoid allowing their insured to do business with so many healthcare providers. Disgusting.
Never ever buy UHC as insurance, there are far better options like BCBC, Aetna etc,
Then don't buy united healthcare, buy something good like aetna maybe? You get what u pay for basically.... UHCs insurance is basically a donation cuz it doesn't cover anything....
The medical system in the US is broken. Even working people cannot afford normal levels of medical support - this is crazy.
add rent, vehicles, food
You can blame insurance companies like the one in this video for that.
@@Misaka-gt5yj The free market drives prices down, though TBF the US isn't a free market, it's riddled with Socialism at this point.
Its better than most other countries, especially if you consider the price of a good insurance like Aetna and the healthcare taxes other countries. The worst insurances to avoid are UnitedHealthcare and Blue Cross, any other provider is decently good.
I loathe United. It's the insurance I get through my company. I have to be on a serious maintenance medicine for life. The side effects of this medicine can be fatal, so my doctor has me visit monthly for blood work in order to get my prescription filled. United refuses to pay anything for my medicine. Their reason? They only pay for 3 month supplies of maintenance medicine. My doctor contacted them insisting it wasn't safe to fill a 3 month script. United didn't care. A 3 month supply would cost me $17 but since I can't get that, a 1 month non covered supply cost me $80. It's outrageous.
What is $80? Lolz
This may sound crazy, but what if we buy out the health insurance companies and then the government takes over insurance as single payer?
No that’s not crazy, it’s stupid. What we need is more competition, not less. Name me one monopoly, private or public, that does a great job. You can’t. But I can cite endless examples where everything got better and cheaper by having price and service and product competition.
@@jameslee5237
So the shareholders (is the citizens) have no incentive to make a certain service better? Sounds like we can't even trust citizens to look after the greater interest of each other
@@Demopans5990 I don’t think you understand what a company is. A company exists to make money. If it’s making money, the shareholders are happy. The role of government is to ensure monopoly doesn’t exist in the marketplace, and that external costs (like pollution) are borne by the creators of those costs. If they did that (which they don’t due to corruption and ignorant voters), most things would take care of themselves.
@@jameslee5237 my electric & water utility companies do pretty well
@@jameslee5237 Standard Oil, until that was broken down. The US military seems to do a good job around the world. My local electric utility has damn good service and it's cheaper than the "free market" utilities.
If you have UHC health insurance, good luck finding providers that are in the UHC network. The hospital that I worked at prior to retirement would not take UHC. UHC just would not pay for services.
I had UHC from my employer, left that company as fast as I could, if your employers provides u UHC, you know they give 0 about your health and well-being
Take in premium money,
pay out zero claims money,
Profit Profit Profit and CEO Bonuses!!!!
Exactly 💯
that's what I thought, isn't it one of the worst?!
Wrong I have UHC and Aetna I barely pay for anything with UHC free Dental plus eye Doctor 😂😂
I work for a small doctors office as the biller. More often that not I see claims being paid by UHC then “reprocessed,” by UHC and then retroactively denied leaving me and the patient to appeal the retroactive denial.
We need national healthcare.
@@fitsom-one ??? What about having claims denied sounds good to you?
@@fitsom-one Did you read the comment? Claims denied cannot be good..can it?
Sounds like a pain. I try to avoid UHC
Never ever buy UHC as insurance, there are far better options like BCBC, Aetna etc,
Really easy to make money hand over fist when you take in premiums and then refuse to cover anything
This is what happens when multiple interests converge on an industry
Government, capitalist companies and corporations, medical groups, providers, etc
It’s neither full blown market capitalism, and it’s not full blown socialism. I do think a hybrid can work better than what we currently have, but the way we’re doing it is benefiting everyone except the consumer. The average every day American citizen
The ones who keep this country moving. The ones you want healthy and well, for years to come, so they can be healthy and work, for a while, AND, create families
Political interests and lobbying, insurance companies and pharmaceutical and medical companies having to mostly emphasize profits over actual *_HEALTH, CARE_* , is an inherent conflict of interest
Exactly. They are raking in premiums and copays, have high deductibles, and take government subsidies for people who are eligible for subsidies. Medical insurance companies are awash with money.
@Leaf Blower When the government came in to “help” with Obamacare they were handing out fines sometimes amounting to $7,000 for having no insurance. Some people were forced into buying insurance they couldn’t afford. Some people were paying $1,000\month for insurance they didn’t want. Do you have a better plan or the same Brain dead plan as the last?
Makes me wonder why I pay for health insurance. I pay for half of my policy while my employer pays the other half. It's tempting to pay for health care out of pocket for everything because the health insurance companies will screw me over anyway. Why pay them anything?
Thank you for the video, I found out that investing is not for everybody, you just need a strong stomach too see your portfolio go down. It might be wiser for a novice to start with copy trading investing, but it is not easy. To invest in growth stocks it is another level, definitely you need to know what are you doing.
From my own point of view, you need to invest smartly if you need the good things of life. so far i've made over $255k in raw profits from just 6 months into the market from my diversified portfolio strategy and i believe anyone can do it you have the right strategy, mutual funds takes long time but investing smartly is the key for short term. Most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.
This is a phenomenal advice for a new stock traders and investors who want that quick short term game, but don't see the light at the end of the tunnel.
I've been solely investing in real estate. But with the recent hyper home pricing i've liquidated a few things and have $45k in cash laying around idle. Would love to get your recommendations, I'm in search of something lucrative in the current crazy markets, i will be glad.
@@katrinatyler675My portfolio is very much diversified so it's not like i have a particular fund i invest in, plus i dont do that by myself. i follow the trades of Mrs Karen Gaye Gray.
She is a popular broker you might have heard of. I can correctly say she's worth her salt as a financial advisor as her diversification skills are top notch, because i see that in her results as my portfolio grows by averages of 10 to 15% on a monthly basis, unlike i can say for my IRA which has just been trudging along, my portfolio just mirrors what she trades and not just on some particular industries of my choosing.
I'd never buy into a United Health insurance policy because I've had so many bad experiences with them when I was younger. It's too bad that the majority of people under 65 have to depend on their employer to provide health insurance. Most employers just look at the how much the policy costs. They have to get an awful lot of complaints before they'd consider ditching the lowest cost provider. But employees figure they need their job, so they don't always complain to their employer.
If we all had to buy our own health insurance coverage, I'd bet United Health would lose a lot of that market cap really, really fast.
FedEx uses United healthcare because they're cheap and they don't cover anything. We used to have Blue cross and that was a lot better than UH
God help us.
there is no god
Who is God?
Now you know why Covid stimulated the economy
Optum RX is HORRIBLE. If you thought customer service was bad before the pandemic- they take it to a whole other level.
I swear OptumRx and most 'new-age' heatlhcare startups are scammy as hell
yep! Optum Rx is awful awful awful!!!
You have disclosed SSN of the patient in the video. It’s sensitive information and can cause identify theft. Please blur the image asap at 3:26 mins.
So I went to high school with the daughter of one of the original founders of United Healthcare. For her 16th birthday, she got a 100k Range Rover. Two months later she totalled it, a month after that, her dad bought her a new one with more features in it. Meanwhile, one of my classmates’ mom had just lost her job while her little brother was going thru medical complications leaving them uninsured. That was the day that I told myself I would do everything in my power to make sure that company goes under…
spread awareness.. thats all we can do. maybe one day we can get people in government who actually represent the peoples interest and flush these turds down the toilet
As opposed to any other large business founder? UnitedHealth Group is around the 5th largest company in the US. You think Walmart or CVS founder would do differently?
@@steflift5165 personally I don’t care about Walmart or CVS or Apple because those are products people choose to buy and they can go elsewhere if they like. Health insurance is something you have to have and often times you don’t have a choice in the marketplace and they’ve stopped universal healthcare from passing.
Depressing. This pretty much puts a permanent boulder on any kind of HC reform. 😭
By "reform" you mean Socialist takeover I presume.
@@R3tr0v1ru5 breaking up monopolies is socialist? do you even know what socialism is?
@@R3tr0v1ru5 be a moron somewhere else.
@@R3tr0v1ru5 just say you dont want lower class and middle class people to get affordable, quality healthcare. either you've been misled to work against what would benefit you or you're already rich and just dont care about anyone else.
@@ihakker1416 They aren't monopolies. The only true monopoly occurs under Socialism.
The one thing that takes away from the USA is their fundamental "hustle until you get rich and don't care about anyone else because that takes away from your own advance". That as a strength for economic growth, also subtracts from the other end... insurance, specifically health insurance. Unless this can be worked out by the "high end of town" with coverage from above and not side-stepped by those who don't want it - only then will the pool be large enough to cope with those that draw on it, and those who pay for it.
I agree. The sentence "I don't begrudge UnitedHealth Group for doing this" is crazy. Why would you not shun those who empower and profit of these exploitative ventures.
It seems the US attitude is "there is good money in it so it's understandable". The culture says that anything that is legal is fair game. No business can be immoral unless it's illegal. 🤦
Healthcare in the USA is a business, not about health lol.
tax collector
Hillarious how in the US healthcare is a business first of all and not a neccesity
"We don't want redundant services"... In an industry that people depend on being available to stay alive.
This year I'm dumping United Health as my MEDICARE supplement for MODA - a Pacific NW company. Large health-care systems have turned into large death panels that utilize AI to determine whether or not patients need/deserve the care doctors their doctors prescribe.
Universal Healthcare now! Too many people dying, too many families going bankrupt.
Doctors, remember your oath to help ALL. Fight for healthcare for ALL!
1:34 Wow. You know what would entirely eliminate redundant services & profit markups? Universal health care
You must not understand how government works vs private sector.
@@Crack146215 literally works just fine in every developed nation in this world, even works in tons of developing nations
@@willinton06 Yea, but not for Americans. Americans are different, so it wouldn't be feasible
@@John_Smith_86 True, Americans are too stupid to implement simple things that every other remotely advanced country takes as a commonplace. Can go to the Moon, but can't cross the street, lol.
@@willinton06 You pay for Socialism in other ways. Namely poor services, high taxes, less freedom.
The data they have access to through their Optum business is the key. Most of United Healthcare's competitors use Optum and Change Healthcare clearinghouse and payment services, and so run large quantities of their data through UHG (as demonstrated by the impact the Change Healthcare Hack has had throughout the industry). Seems like DoJ has found evidence that the "firewall" between UHC and Optum wasn't airtight. If the largest player also happens to have direct access to all of their competitor's internal data, that is a big anti-trust issue.
The federal government should simply purchase UHC, Cigna, Humana, and other health care insurers. Merge them and consolidate all administrative functions under the CMS. And provide Medicare for ALL. Health care should not be a profit-focused service. It should be health-focused. Government may be arguably terribly inefficient in some areas, but in this regard, I'd trade some inefficiency for the high profit focus that corporations such as UHC bring to the table.
Some countries have a private/public option for healthcare that helps to drive cost and cost controls set by the government that way companies always have to compete with uncle sam.. Government offers a health insurance plan but your private companies can exist along side that since the government isn't incentivized by vested interests it makes things more cost competitive in the overall marketplace.
Yes yes. Goverment imposed price controls? What could go wrong?
@@RM-jb2bvit’s not a price control, it’s a state run business. Private companies would have to drop prices in order to compete. Free market
@@patricklooney3598 You don’t compete with government in a free market dummy. The “free” in free market means free from government interference.
I currently own UNH (UnitedHealth Group) stock but that doesn't mean I don't despise their business practices. I have heard they routinely deny people insurance claims and make life hell for people with health issues. Whilst I do think UNH is a good stock to own if you want to make money you must be also aware of the bad practices of the business and together as shareholders its important to improve the experience of customers and ensure genuine claims are paid promptly without delay.
You have blood on your hands. Giving empty lip service here to make yourself feel human is pathetic. Are you actively voicing your opinion, do you even attend, or vote? Stockholders can make them accountable. Miserable excuses for human if not because all olf you profit off the backs of the suffering sick.
I have Humana Medicare Advantage. I generally hate insurance corporations, but Humana has been great. I had cancer and paid very little. On the other hand, I once saw an "Optum doctor." He spent 3 minutes with me, called me a liar, and charged me $300.
Humana, BCBS and Aetna are the best insurance companies out there
Nah, optum owns part of humana
It would be beneficial for the U.S. to adopt a healthcare system similar to those in Europe or Canada, and doing so may lead to a reduction in the profits of companies that currently capitalize on human health. Private healthcare should be available only to those who choose and can afford it, rather than being mandated as part of a national healthcare system. This issue is a result of excessive lobbying efforts, and it is important to address it in a way that provides the best outcome for everyone.
Also the GOP wants to keep it privatized.
American healthcare has qualified professionals hindered by the worst privatized profit-first system imaginable. It makes me sick.
It's like they are trying to be like Walmart--one stop shopping.
But instead of trying to give you the best price, you get the opposite
Health care should not be for profit.
They have a very clear strategy with how they run their outpatient medical clinics, Optum. They recruit foreign doctors who went to medical school outside of the U.S. and therefore can't get hired at the more reputable medical groups. Basically, the PPO version of Kaiser.
Healthcare is sick care in the USA. It is a system that is more interested in profits than results. This a docuadvertising to protect they lucrative investment.
The most profiting has to do with diabetes and weight loss. But neither are diseases since there's no cure.
This should scare the hell out of most of us….
I work in medicine. My office does not accept UNH as a payer because their negotiated rates are not worth working for. Participant's premiums are being collected, but not distributed fairly. This is the reason I bought their stock, which has served me well.
Wanna fix the system? One way we could do it it make them publish the Master Charge Book for each medical provider….
I work in Revenue Cycle. UHC is just another health insurance payor crook, and they’re trying to run a trust, and have conflicting interests as a matter of their business plan.
I have UHC , and I’m not big fan at all. You thinking everything will be paid , two mouth later an unexpected bill comes in mail. Most local government agencies are move away from UHC, it’s to expensive
If you're thinking about them as an investment because of all this positive news, then its already too late.
Good news are bad news.
It's sad how these companies take advantage of Americans while we suffer...
I think one of the biggest issues in healthcare is employers are typically the ones who provide healthcare. This might seem good at first but in reality it leads to limited plan options and it’s easier to monopolize as you only need to get tens of thousands of customers to go with your plan (the employer) rather than the millions of people who will actually benefit from the insurance. I think we should have a government mandate pan for those on governmental assistance and children, then for adults healthcare would work more similar to car insurance. More flexible options could be created so depending on your health. Money is typically taken out of your paycheck already for insurance so they money for these plans could go back into your pocket so you can choose how to use it.
I tried to get a Threpist but they rejected my health insurance because despite the fact that they said they support "United Health Care" They kept telling me it had "Medicaid" when in reality that is suppose to be a "Prescription Drug Coverage". This US Health Care System is so broken.
They'll help you with your money problem by removing the burden from you.
@@robertagren9360 That makes no sense.
Strategic vision+ strategic investment? Code of making money. No mention of patient care.
If a if the only things a corporation did was sexually abuse children and torture puppies, but offered an 18% return on investment, people would flock to buy that stock, without question.
This demonstrates how broken the USA Healthcare system is. Long live the NHS!
Amen! I’m cheering for NHS from here in the US!
i would prefer not to wait 6-8 months, there are good insurance in US too, like Aetna, BCBS and others, and plus its cheaper than the ridiculous tax u pay to the corrupt UK government to basically do nothing and provide the longest waiting times and low quality health care
Optum is a bigger player in the UK market than you'd think. And they're looking to get bigger - they're running out of growth opportunities in the US and the nature of being publicly traded demands continuous growth. Frankly I'd rather they not be in the UK health market and definitely not with the NHS but.. they claim they're best positioned to offer insights into populations and cost control. Which is obviously attractive to the NHS.
@@mohit4902 I've been insured by several different companies and at no point did I pay less than my UK based partner. Our wait times for PCP and specialist visits are comparable if not longer depending on specialty. British people will complain about a several week wait and paying £9 for prescriptions but I've gone to my pharmacy and gotten a bill for $60. One of my literal life saving drugs was denied and I had to forego it - it costs $10,000. Same medication in the UK w/o NHS cover? £295. The inflated costs are ridiculous and cannot be justified.
Seriously? Considering how NHS is currently unable to provide the standard of care? Like this is a bad PR period for NHS, I wouldn't use it as an example
This is not health insurance, it's a way not to get care.
I work for OptumServe (under UHG). We got govt contracts to pay claims on the VAs behalf. I got a lil bit of stock in UHG. I know my job is secure for the coming recession because while folks lost their jobs and businesses closed UHG grew even further by supporting Covid health programs.
Tldr i work for UHG as a cog because job security
Actually in 8/2023 they did a pretty big layoff in multiple parts of the organization.
The DOJ and the FTC need to breakup defense contractors, healthcare insurers and hospital chains, telecommunications, and oil companies
UHC is so big and owns so many working parts of our healthcare system...their universal denial or delay in paying claims is just a business model to them. Patient's lives be damned. UHC doesn't wait for their premiums. Doctors are forced into cash flow situations which drive them to use pay lending institutions owned by UHC. By buying up medical billing companies UHC gains access to what medicare/medicaid is paying other insurance company claims (giving UHC an advantage over other insurance companies). By buying pharmacy companies and home health care companies, UHC directs it's insureds to only use those companies, leaving little or no healthcare choices to the patient/doctor. UHC insureds need to be aware, UHC directs their care on so many levels, no matter what you and your doctor might think. Sure the stock is golden. Sure Wall Street loves them. Because it's all about profit. Not about healthcare. There ought to be a law.
I have an AARP supplement with United and have been pleased with them so far.
I heard a few people in this video basically say "we should trust United Health Care, because they super duper promised and pinky swore they wouldn't do anything monopolistic". That's not good enough. Of course they didn't stop their primary care physicians from accepting other insurances. Why would they? They'd only be locking their physicians out of like 70% of the insured market by doing that. They stand to make far more money by working with their competitors than they going it alone. That's how monopolies form. Oligopolies breed duopolies, duopolies breed monopolies. Break them up now.
The only time when a monopoly of the healthcare sector is appropriate or good is when that monopoly is owned and controlled by the people and the state and funded through taxes
3:24 listing ssn lol
Free security numbers to everyone
There are a lot of complaints in the comments. This probably explains why the employer I work for takes an active role in making sure we have good insurance. We also use UHC, but they have clauses in the contract that says things like "Must support such and such hospitals/service within certain regions". And we have 3rd-party services that will "deal with" insurance for us. We can literally call up this service, give them the details, and they will work on our behalf to figure out what needs to happen. And our HR is really great at backing us up. I've had it where there was a dispute between a local hospital and our insurance. I contacted my HR and the problem was resolved within 2 days. It's sad there needs to be such services.
@@SigFigNewton
What if I don't want to be part of the government healthcare system? Why can't we have both like we do in education. Public schools and Private schools. Would you be opposed to that?
When we go to single payer US health care system we can just add everything to this
So this is just exactly what Kaiser has done?
why do they decline every pre auth my Dr sends over??
WOW!
Yeah, you'll "navigate" your whole healthcare without ever leaving the UHG system, but somehow, your treatment won't be covered and all the doctors will be out of network, somehow.
AARP sucks! I quit insurance with them, so much trouble between patient, doctor and hospital!
Why you guys show a SSC number in the video?
The solution is non-compete. Vertical can be allowed for sake for service but that's not what's happening. The ACA limits margin in insurance so they're putting the margin on the providers side instead. An independent provider servicing clients based on contract with different insurance are like contractor, an employer of UHC providing service to a customer of another insurance should be a violation of his contract. Simply put, I bet there is an explicit rule in UHC HQ employment contract that wouldn't allow them to have a 2nd shift in another insurance company, this is just not implement in their subsidiary provider network because it's beneficial to them. The govt can implement non-compete such that UHC would only be able to expand their provider network if and only if these networks are only servicing their own customers which is unlikely enough for to them expand.
That's assuming people who works in the healthcare industry wants a 2nd shift. What if they don't want to?
@@horcruxz not about if they want to, matter of if they can. I'm just saying that's a potential solution to massive leverage some companies have
3:24 Am i the only one who noticed how they didn’t blur out the SSN? 😂
Email your senators and ask them to co-sponsor H.R.4968 - GOLD CARD Act of 2023. This bill, if passed, will eliminate the ability of Advantage plans to require prior authorization.
The stock market is a complex system that is influenced by a variety of factors, including economic indicators, political events, and global trends. The relationship between policies and the stock market can be complex and multifaceted, and it can take time for the full effects of policies to be reflected in market trends. Therefore, it is possible that policies implemented in the past may have a "lagged effect" on the stock market, as their full impact may not be felt until later on.
you're absolutely right, the stock market is a dynamic and constantly changing environment that can be influenced by a wide range of factors, including government policies. It is important to approach investing with a long-term perspective, also, understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional investment coach and to carefully consider the potential risks and rewards of any investment decision.
Does price per share matter though🤔
Whos here after the big data breach?!!!😢😢😢
Pitching healthcare monopolies like UHC as being something that is positive for the consumer is honestly one of the biggest lies I've heard someone tell in a while. CNBC is wildly transparent corporate propaganda.
They did it by not paying claims
I hate investing in conglomerates. Ill swich when im up. Most of the reasons why I dont actively invest in oil. Give me a fund that wants change and can prove it, that'll be better than gambling or ceos that promise everything and strip us of everything
6:51 I hate corporate speak like this. It's a fluff piece designed to sound good but basically boils down to, "We're going to continue to screw you over and extract all your money from you so that you are homeless and on the street, so get over it."
Ahhh your health in the US, *It's free real estate*
Stop corporate greed
Socialized healthcare now!
They’re an efficient company and know how to run a business. Which is NOT common
CNBC it’s a visible SSN in this video.
Vertical integration as a corporate strategy for market dominance, cost maintenance, and steady profits is nothing new. The same thing happened with major Hollywood studios with block booking before the landmark Supreme Court Antitrust Paramount Case of 1948. It's a strategic holdover rooted in the Modernist ethos of wanting to create monumental, all encompassing structures that function as new and complete systems in and of themselves. Companies will always try to do this.
It goes back to Standard Oil and J.D. Rockefeller in the 1800s. At the height of his empire, he personally owned about 1% of the US GDP -- every year. In current terms, that would be like if Elon Musk made $300 billion EVERY YEAR, not just as a total, net worth figure. So after only 3 years, Elon would almost be a trillioniare.
The robber barons back then were on a different level, mainly because we've enacted many legal reforms since that are specifically designed to stop it from ever getting that extreme again.
@@StochasticUniverse Yes.
this is perfect, the government can now easily take over and provide universal healthcare for a discount for tax payers
Even medicine is a business, in the usa.
How many more years until there are a handful of global companies and we can have roller ball ?
Can you say Monopoly!!! And the government knows it.
This almost comes off as a puff piece for United. Complete joke. They will do anything they can to deny claims.
03:23 Matt Johnson, how did you get your SSN stolen?
Damn
Love me some Bertha! Great video. I only knew of UH because they flooded sites like Monster, Dice and Indeed with job postings, which made me very skeptical. I had no idea they were legit until now 😂
I despise all big insurance equally. They all have gotten way too greedy for far too long, profiting billions of dollars while poor and middle class hard working people pay ridiculous premiums and about 30 million people aren't insured. I'm a dividend growth investor, I have been a HUC member, and I'll never buy their stock!
When Politicians are going to get over with insider trading they're going to have to make sure they have a stock they can invest in that will make them rich.
There's a reason Obamacare didn't let people buy insurance across state lines. All the new rules, but still barring competition (which is what actually matters).
Health Insurance can't be bought across statelines because each state creates its own regulations, states created there own rules I think because Insurance companies were screwing over policy holders by not covering certain things
They screw seniors