UnitedHealth Group Post Strong Results

In this iPMI Global company results article, iPMI report author Ian Youngman, takes a look at UnitedHealth Group Full Year 2023 Financial Results.

UnitedHealth Group affirmed the 2024 performance objectives excluding the potential impacts from the pending sale of its Brazil operations, which is expected to close in the first half of 2024.

2023 results in USD

UnitedHealth Group Full Year 2023:

• Revenue 371.6 billion up 15% from 324.2 billion.
• Earnings from operations 32.4 billion up 14% from 28.4 billion.
• Cash flow operations 29.1 billion from 28.4 billion.

UnitedHealthcare

• Global revenue 281.4 billion up 13% from 249.7 billion.
• Earnings from operations 16.4 billion from 14.4 billion.

UnitedHealthcare Global

• Revenue 9.3 billion from 8.7 billion.
• UnitedHealthcare Employer & Individual.
• Revenue 67.2 billion from 63.6 billion.

UnitedHealthcare Medicare & Retirement

• Revenue 129.9 billion from 113.7 billion.

UnitedHealthcare Community & State

• Revenue from 75.0 billion from 63.8 billion.

Optum

• Revenue 226.6 billion up 24% from 182.8 billion.
• Earnings from operations 15.9 billion up 13% from 14.1 billion.

Optum Health

• Revenue 95.3 billion up 34% from 71.1 billion.

Optum Insight

• Revenue 18.1 billion up 30% from 14.6 billion.

Customer numbers

Group customers at 31-12-2023

• United Health Group total 159 million individuals.
• United Healthcare customers 52.8 million.

UnitedHealthcare Global

• 5 million health.

27.4 million Commercial USA total includes:

• 2 million risk based customers.
• 2 million fee based customers.

19.9 million USA community and senior customers.

• 7 million Medicare Advantage.
• 8 million Medicaid.
• 4 million Medicare Supplement.
• 3 million Medicare Part D stand-alone plans.
• OptumHealth 103 million.

CEO Andrew Witty comments, “UnitedHealth Group enters 2024 well prepared to build on our efforts to improve patient care and consumer experiences broadly, and to continue delivering strong and balanced growth.”

Analysis

• Excellent growth.
• UnitedHealthcare customer numbers grew by one million.

About the Author

Ian Youngman is an independent writer and researcher specialising in insurance. He writes regularly for a variety of magazines, newsletters, and on-line services. He publishes a range of market reports, and undertakes research for companies. To read his latest report, International Health Insurance 2023, please click here, or visit the REPORTS section of iPMI Global.