Reported about 21 hours ago
In its latest earnings call, UnitedHealth Group's CEO, Andrew Witty, addressed public concerns regarding claim denials, particularly following the tragic shooting of insurance executive Brian Thompson. The company fell short of revenue expectations, reporting $100.8 billion, and faced higher medical costs with a medical loss ratio of 87.6%. Despite these setbacks, Witty emphasized that efforts are being made to improve claims processing, suggesting that up to 85% of process-related claim rejections could be reduced with better tools. The company is also under scrutiny due to a class-action lawsuit related to its AI claims processing.
Source: YAHOO