Health insurer reports second quarter numbers, boosted by performance of subsidiaries UnitedHealthcare and Optum Health.
The payer's Q2 results were highlighted by revenue growing from $71.3 billion to $80.3 billion year-over-year, while earnings from operations were $7.1 billion, representing a growth of 19% year-over-year.
"Customers are responding as we build on our five growth pillars, enabling us to move into the second half of 2022 with strong momentum serving ever more people more deeply," said Andrew Witty, UnitedHealth Group CEO.
UnitedHealthcare saw a growth of 280,000 patients served in Q2 thanks to community-based and senior offerings, which raises the total people served in 2022 to over 600,000. In domestic commercial benefit offerings, patients served grew by 80,000 in the Q2 and over 250,000 in the past year.
Member expansion resulted in revenue growth of nearly 12% year-over-year for UnitedHealthcare, increasing from $55.5 billion to $62.1 billion.
For Optum, revenue per patient increased 30% year-over-year, as people served under value-based care arrangements and continued expansion of the care services offered experienced growth.
Expansion in comprehensive managed services for health systems and a widening suite of information technology and data analytics propelled a revenue backlog increase of $2.3 billion.
On the Rx side, Optum reported 10% growth in Q2 behind new people served and expansion of pharmacy care services, including specialty and community pharmacy.
Overall, Optum's Q2 revenue increased from $38.3 billion to $45.1 billion, representing 18% year-over-year growth.
Jay Asser is the contributing editor for strategy at HealthLeaders.