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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