That total then dwindled to about 2,000 hospitalizations by March, as the omicron surge of virus faded. That marked the highest total of any month since the pandemic started more than two years ago. Overall, UnitedHealth earnings grew more than 3% to $5.03 billion in the first quarter, even though the company's largest expense, medical costs, climbed 17%.Ĭompany leaders told analysts Thursday morning that UnitedHealth started the quarter with about 40,000 COVID-19 hospitalizations in January. It's an approach gaining favor with bill payers like insurers and employers. The idea is that regular care will keep patients with chronic health problems like diabetes healthy and out of expensive hospitals. UnitedHealth and competitors like the drugstore chains CVS Health and Walgreens are all trying to become regular sources of care for more customers, especially those with Medicare Advantage plans.
That involves reimbursing doctors based more on the patient's health instead of for each service provided. UnitedHealth said the revenue it drew per customer from its care-providing Optum Health business grew by 33% as the company expanded deeper into value-based care. First-quarter operating earnings, which don’t count interest expense and taxes, slid for the company's health insurance business but jumped almost 20% to $3.2 billion for Optum compared to last year.
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