The UnitedHealth Group Reports Astonishingly Irrational 2022 Profits
The time has come to stop calling UnitedHealth, Cigna, CVS/Aetna, and other commercial health insurance industry profiteers "healthcare" companies - Wendell Potter weighs in
This just in from Wendall Potter: The UnitedHealth Group, headquartered in Minnesota, has reported their profits for FY2022.
After analyzing UnitedHealth Group’s fourth quarter and full year 2022 revenue and profits this morning, it’s time to stop calling UnitedHealth and two of its biggest competitors, Cigna and CVS/Aetna, healthcare or health insurance companies.
All three private companies now net more money as drug supply chain middlemen, than they do by controlling, restricting and denying access to healthcare to premium-paying persons in the United States.
Revenues of $324.2 Billion Grew 13% Year-Over-Year, with Double-Digit Growth at both Optum and United-Healthcare:
• Cash Flows from Operations were $26.2 Billion or 1.3x Net Income
• Full Year and Fourth Quarter Net Earnings were $21.18 and $5.03 Per Share
• Full Year and Fourth Quarter Adjusted Net Earnings were $22.19 and $5.34 Per Share
UnitedHealth Group affirmed the 2023 growth and performance objectives established at its November 29th Investor Conference, including revenues of $357 billion to $360 billion, net earnings of $23.15 to $23.65 per share, adjusted net earnings of $24.40 to $24.90 per share, and cash flows from operations of $27 billion to $28 billion.
“We expect the efforts by the people of our company that led to strong performance in 2022 will define 2023 as well, especially delivering balanced growth enterprise-wide, improving support for consumers and care providers, and investing to make high-quality care simpler, more accessible and affordable for everyone.”
— Andrew Witty, Chief Executive Officer of UnitedHealth Group
By any measure—social, economic, ethical, medical, cultural or moral—these profits, extracted from the Commercial Health Insurance industry Denial of Care business model, are irrational, astonishing and unethical.
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