All articles tagged with #optum
Originally Published 5 months ago — by Forbes
Despite strong earnings, UnitedHealth's stock is falling due to market concerns over structural issues, regulatory probes, and trust erosion in its business model, particularly around its vertical integration and Optum's operations, signaling a potential shift in investor confidence and valuation.
Originally Published 1 year ago — by TechCrunch
Optum, a subsidiary of UnitedHealth, restricted access to an internal AI chatbot after it was found publicly accessible online without password protection. The chatbot, used by employees to handle health insurance claims, did not contain sensitive information but its exposure raises concerns amid scrutiny over UnitedHealth's use of AI to allegedly deny patient claims. The chatbot was a demo tool and not in production, according to Optum, and was taken offline after the exposure was reported.
Originally Published 1 year ago — by NBC Boston
Steward Health Care's physician group has been purchased by OptumCare, a subsidiary of UnitedHealth Group, prompting state health care officials to review the proposed sale's potential impacts on health care costs, quality, access, and equity. The Health Policy Commission will assess the transaction and may initiate a full Cost and Market Impact Review if significant impacts are anticipated. Sen. Ed Markey expressed concerns about Steward's financial instability and urged Optum to prioritize controlling costs and preserving health care access in Massachusetts. Steward also indicated that it anticipates providing notices of material change regarding transactions involving its acute care hospitals and other provider operations in the next 12 months.
Originally Published 1 year ago — by The Boston Globe
Steward Health Care plans to sell its doctor network to UnitedHealth's subsidiary, Collaborative Care Holdings, prompting concerns from Massachusetts officials and community leaders about the impact on the state's healthcare system. The proposed deal, which includes Steward's primary care doctors and clinicians in nine states, is subject to review by state regulators and potential antitrust scrutiny. Critics worry about the potential negative effects on Steward hospitals and the growing market power of UnitedHealth's Optum, which has been aggressively expanding its presence in Massachusetts through acquisitions.
Originally Published 1 year ago — by BleepingComputer
A cyberattack on UnitedHealth Group's subsidiary Optum, impacting the Change Healthcare payment exchange platform, has been linked to the BlackCat ransomware group. The ongoing outage has led to widespread billing outages across the U.S. healthcare system, with Optum providing daily incident updates and assuring that its own systems have not been affected. While UnitedHealth Group suspects "nation-state" hackers, sources claim the attack is linked to BlackCat, known for over 60 breaches and $300 million in ransom payments. The U.S. State Department is offering rewards for information on the ALPHV gang leaders and individuals linked to BlackCat ransomware attacks.
Originally Published 1 year ago — by Becker's Hospital Review
Change Healthcare expects the cybersecurity incident to disrupt its operations for at least a day, suspecting a nation-state behind the attack, leading to manual processing of prescriptions at some hospitals and retail pharmacies. The American Hospital Association advises health systems to disconnect from Change Healthcare and Optum, with cybersecurity experts concerned about the broad impact due to the company's responsibility for massive amounts of patient data. The incident, believed to be a result of hackers exploiting vulnerabilities in a remote IT platform, is seen as an attack on the entire healthcare sector, with potential negative credit implications for Optum's parent company, UnitedHealth Group.
Originally Published 1 year ago — by BleepingComputer
UnitedHealth Group's subsidiary Optum was hit by a cyberattack, causing a disruption to its Change Healthcare platform, impacting 119 services and platforms. The attack, attributed to "nation-state" hackers, has led to widespread problems for healthcare organizations, pharmacies, and military pharmacies, with the American Hospital Association advising disconnection from Optum. The incident, suspected to be a ransomware attack, has prompted concerns about data theft, and investigations are ongoing.
Originally Published 2 years ago — by STAT
UnitedHealth Group and Optum are discontinuing the name of their tech-driven care management company, NaviHealth, following congressional criticism over the use of algorithms to deny payments for patients' care. The move is part of a broader rebranding effort by Optum's division, which provides services to people at home and in post-acute facilities. UnitedHealth aims to control every aspect of patient care outside of hospitals while distancing itself from controversial practices. Optum's post-acute-care companies will be renamed Home & Community Care starting in Q1 2024.
Originally Published 2 years ago — by Greater Baton Rouge Business Report
Home health and hospice company Amedisys has received a competing all-cash buyout offer from Optum, a diversified health services company, while still under a pending merger agreement with Option Care Health. The unsolicited offer from Optum would be worth $100 per share in cash, compared to the $97.38 per share in all-stock deal with Option Care Health. Amedisys' share price spiked 15.5% premarket following the news.
Originally Published 2 years ago — by ABC News
UnitedHealth beat first-quarter forecasts and raised its 2023 guidance, driven in part by growth from its Optum care segment, which saw a 25% increase in revenue and a 19% increase in operating earnings. The company's emphasis on value-based care, which bases doctor pay on patient outcomes rather than services delivered, contributed to a 34% increase in revenue per customer. UnitedHealth's insurance business, which covers over 50 million people, also saw growth in commercial, Medicare Advantage, and Medicaid coverage. The company's profit climbed over 11% to $5.61 billion, and it now expects adjusted earnings for the year to range between $24.50 and $25 per share.