The country’s largest health insurer recorded a large, consolidated profit in the third quarter mostly due to lower medical claims and, consequently, lower medical costs. Medical costs increased 5.8 percent, from $18.4 billion in the third quarter of 2011 to $19.5 billion this year. UnitedHealth’s total revenue in the third quarter, by comparison, increased 8 percent, from $25.3 billion in 2011 to $27.3 billion this year.
For the nine months ended Sept. 30, 2012, UnitedHealth posted a profit of $4.28 billion, compared with $3.88 billion in the first nine months of 2011. Total revenues shot up 7.8 percent, from $75.9 billion in the first nine months of 2011 to $81.8 billion this year.
Earlier this month, UnitedHealth also announced it was expanding its operations abroad, as it intends to buy a 90 percent stake in Amil Participações, the largest hospital and health insurance company in Brazil. The total transaction is valued at $4.3 billion.
More Articles on UnitedHealth Group:
UnitedHealth Group to Acquire 90% of Brazil’s Largest Healthcare Company
UnitedHealth Becomes Part of Dow Jones
UnitedHealth 2Q Profits Surge 5.5% to $1.3B
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
