The model vertically integrated payer

Gist Healthcare March 15, 2024
The Gist Weekly Team

In this week’s graphic, we take a closer look at UnitedHealth Group (UHG)’s 2023 financials to show the success of its vertical integration strategy. The company reported $367B in consolidated revenue in 2023, earning more than three quarters of that from its UnitedHealthcare insurance arm. While its Optum health services arm—which includes Optum Rx, Optum Health, and Optum Insight—earned $88B of consolidated revenue, an additional $136B of revenue from its insurance arm was redirected into its Optum businesses in the form of intercompany eliminations. This figure, up 26 percent from last year, represents over 60 percent of Optum’s total revenue. These payments from UnitedHealthcare to Optum allow...

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