What "healthcare" companies made the Fortune 500 List in 2024?
While mired in multiple criminal investigations and class action lawsuits Minnesota-based UnitedHealth Group's 2023 revenue topped $371.6 billion | June 7, 2024
(Andrew Witty, CEO of UnitedHealth Group.)
Class action lawsuits are moving forward against UnitedHealth Group as legal teams in the United States wait for the Judicial Panel on Multi-District Litigation to decide where the multiple cases against Optum - Change/UnitedHealth Group will be consolidated and adjudicated. Mental Health therapists and physicians in Tennessee, Minnesota and California are well positioned to fight and win cases against UnitedHealth Group. The Panel had a hearing on this issue in Utah last week. Mental Health therapists and physicians have led the way on this effort in Minnesota.
While UnitedHealth Group defends its criminal practices on multiple fronts, seven Commercial Health Insurance companies have landed among the wealthiest 25 “healthcare” companies on the Fortune 500 in 2024.
UnitedHealth Group is the largest “healthcare” company on the list. The investment banking firm and Private Equity fund giant, best known for breaking Mental Health Parity laws, breaking Antirust laws, breaking over-billing laws, and lying to investors on Earnings Calls, rose one spot to No. 4 this year, landing just behind Walmart, Amazon and Apple.
In the fall of 2023, UnitedHealth Group Chairman Stephen Hemsley and three senior executives committed felonies punishable by up to 20 years in prison for netting a combined $101.5 million from stock sales made over four months leading up to when the public became aware of a federal antitrust investigation. The sales occurred between Oct. 16, a week after they received notice of the Justice Department probe into their ongoing white collar crime, and Feb. 26, the day before Bloomberg News (reported by John Tozzi) published a story about the investigation.
Elevance Health, Humana and Centene rose slightly in the rankings for 2024. The list ranks companies according to their 2023 revenue.
THE NUMBERS
These year-over-year increases are extracted by denying medical care to paying American consumers and patients in need to guarantee ROI for shareholders who benefit from illness, injury, disability and death:
UnitedHealth Group (No. 4)
2023 revenue: $371.6 billion
Change to revenue 14.6% increase
2023 rank: No. 5
CVS Health (No. 6)
2023 revenue: $357.8 billion
Change to revenue: 10.9% increase
2023 rank: No. 6
The Cigna Group (No. 16)
2023 revenue: $195.3 billion
Change to revenue: 8.2% increase
2023 rank: No. 15
Elevance Health (No. 20)
2023 revenue: $171.3 billion
Change to revenue: 9.4% increase
2023 rank: No. 22
Centene (No. 22)
2023 revenue: $154 billion
Change to revenue: 6.5% increase
2023 rank: No. 25
Humana (No. 38)
2023 revenue: $106.4 billion
Change to revenue: 14.5% increase
2023 rank: No. 42
Molina Healthcare (No. 128)
2023 revenue: $34 billion
Change to revenue: 6.6% increase
2023 rank: No. 126
MOUNTING PRESSURE on ANDREW WITTY
Meanwhile, Senate Finance Committee Chair Ron Wyden, D-Ore., has sent a letter to Federal Trade Commission (FTC) Chair Lina S. Khan and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler urging the agencies to hold UnitedHealth Group (UHG) accountable for negligent cybersecurity practices, which caused substantial harm to consumers, investors, the health care system, and U.S. national security. Read the letter here, which scolds UnitedHealth Group CEO Andrew Witty for throwing his cybersecurity point under the bus during testimony.
Who is protecting American patients and ethical medical professionals? It remains to be seen if the United States Department of Justice, the Chairwoman of the Federal Trade Commission or the Office of Minnesota Attorney General Keith Ellison will be able to indict and convict the unstoppable Andrew Witty and UnitedHealth Group’s Board of Directors.