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Industries
Data & Analytics
Social Impact
Healthcare
Company Size
10,001+
Company Stage
IPO
Headquarters
Minnetonka, Minnesota
Founded
1980
UnitedHealth Group provides a variety of health benefits and services aimed at improving the well-being of individuals and communities. The company operates through two main platforms: UnitedHealthcare and Optum. UnitedHealthcare offers health insurance plans, including medical, dental, and vision coverage, catering to individuals, employers, and government programs like Medicare and Medicaid. Optum focuses on enhancing healthcare delivery through technology and data, offering services such as pharmacy care, healthcare consulting, and data analytics to healthcare providers and payers. Unlike many competitors, UHG combines both health insurance and health services, allowing for a more integrated approach to healthcare. The company's goal is to help people live healthier lives while also promoting social responsibility and diversity within its workforce.
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What You Should Know: – Healthcare providers who received emergency loans from UnitedHealth Group following the Change Healthcare cyberattack last year are now facing demands for full repayment, with some alleging aggressive tactics and potential withholding of future reimbursements, Reuters first reports.– The cyberattack in February of the previous year crippled payment and processing systems at Change Healthcare for extended periods, leaving many healthcare providers in dire financial straits. In response, UnitedHealth Group, the nation’s largest health insurer, offered approximately $9B in loans to help these struggling entities stay afloat.UnitedHealth Withholding Future Insurance ReimbursementsHowever, according to Wall Street Journal reports from two providers, UnitedHealth’s Optum unit has begun sending emails in recent months demanding immediate and full repayment of these loans. These providers, who spoke out about the situation, also claim the communications included threats of withholding future insurance reimbursements if the loan obligations are not met.Change Healtchare StatementChange Healthcare, in a statement, indicated its intention to “work with providers” on establishing repayment options. However, the affected providers revealed that the initial loan agreements contained stipulations that allowed for payments to be garnished in the event of non-repayment. They now contend that these terms exploited the vulnerable position providers were in following the disruptive cyberattack.New Jersey Pediatric Neuroscience InstituteCatherine Mazzola, CEO of the New Jersey Pediatric Neuroscience Institute in Morristown, New Jersey, detailed the financial impact on her practice. She stated that her practice had already seen $68k in reimbursements withheld between February 19th and March 29th
Giverny Capital Inc. makes new $1.20 million investment in UnitedHealth Group Incorporated (NYSE:UNH).
After a long and successful tenure of over two decades with Intel, Kanupriya Gupta has joined UnitedHealth Group as vice president-total rewards.
UnitedHealth Group sues tech giant Broadcom over 'exorbitant' price hikes.
HealthEquity competes with other companies in the financial services and healthcare sectors, such as UnitedHealth Group and Optum.
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Discover companies similar to UnitedHealth Group
Industries
Data & Analytics
Social Impact
Healthcare
Company Size
10,001+
Company Stage
IPO
Headquarters
Minnetonka, Minnesota
Founded
1980
Find jobs on Simplify and start your career today
Discover companies similar to UnitedHealth Group