AskBiography Logo   Latest News  Follow Us on Twitter  Follow Us on Google Buzz  Became Fan - Facebook  Subscribe to RSSRSS   Bookmark and Share

UnitedHealth Group

Company nameUnitedHealth Group Inc.
Company typePublic
IndustryHealth Insurance
HeadquartersMinnetonka, Minnesota, USA
Key peopleStephen Hemsley, CEO
ProductsUniprise, Golden Rule, Health Care Services, Specialized Care Services, and Ingenix
Revenue(+) US$87.1 Billion (FY 2009)
Net income(+) US$3.82 Billion (FY 2009)
Total assets(+) US$59.0 Billion (FY 2009)
Total equity(+) US$23.6 Billion (FY 2009)

     Home | Company | UnitedHealth Group

UnitedHealth Group Incorporated NYSE - UNH is a diversified health and "well-being" company. Headquartered in Minnetonka, Minnesota, UnitedHealth Group offers a spectrum of products and services through two operating businesses: UnitedHealthcare and Optum. Through its family of subsidiaries and divisions, UnitedHealth Group serves approximately 70 million individuals nationwide. In 2010, the company posted a net income of $4.6 billion.

UnitedHealth Group is the parent of UnitedHealthcare, a large health insurer in the United States. It was created in 1977, as UnitedHealthCare Corporation (it was renamed in 1998), but traces its origin to a firm it acquired in 1977, Charter Med Incorporated, which was founded in 1974. In 1979, it introduced the first network-based health plan for seniors. In 1984, it became a publicly traded company.

J.D. Power and Associates recently gave UnitedHealthcare the highest employer satisfaction rating for self-insured health plans . UnitedHealthcare also received high marks from the American Medical Association (AMA) in its 2011 National Health Insurance Report Card. . The fourth annual report card evaluated seven national health insurance companies on the timeliness and accuracy of their claims processing based on a variety of payment, approval and process metrics. UnitedHealthcare moved into the top spot among its industry peers on two metrics: Contracted Fee Schedule Match Rate, which indicates how often an insurer's claim payment matches the contracted fee schedule; and Electronic Remittance Advice (ERA) Accuracy, which measures the rate at which the insurer's allowed amount equals the physician practice's expected allowed amount. And in a recent insurance industry publication, Business Insurance, United was named "readers choice" winner 2010 for "Best health plan provider". .

To contrast, however, in a 2010 survey of hospital executives who have dealt with the company, United received a 65% unfavorable rating. While this marks a 33% improvement over the prior year's survey, UnitedHealthcare still ranked last among all listed.

In 2010, UnitedHealth Group spent more than $1.8 million on lobbying activities to work to achieve favorable legislation, and hired seven different lobbying firms to work on its behalf. In addition, its corporate political action committee or PAC, called "United for Health," spent an additional $1 million on lobbying activities in 2010.

Warning: simplexml_load_file( [function.simplexml-load-file]: failed to open stream: HTTP request failed! HTTP/1.0 410 Gone in /home/askbio/public_html/index_bio.php on line 257

Warning: simplexml_load_file() [function.simplexml-load-file]: I/O warning : failed to load external entity "" in /home/askbio/public_html/index_bio.php on line 257

Fatal error: Call to a member function children() on a non-object in /home/askbio/public_html/index_bio.php on line 260