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October 14, 2020 at 05:34 PM
UnitedHealth Group provides or administers health coverage for about 43 million people in the United States, and about 5.3 million people in the rest of the world.
Managers at the Minnetonka, Minnesota-based company can see where the COVID-19 pandemic is spiking in the company’s health insurance claim figures.
Resources
- Links to UnitedHealth earnings documents and conference call recordings are available here.
- An article about UnitedHealth’s earnings for the third quarter is available here.
John Rex, UnitedHealth’s chief financial officer, talked about what he’s seen in the UnitedHealth COVID-19 claim data observatory today, during a conference call with securities analysts.
UnitedHealth held the call to go after its earnings for the third quarter with securities analysts. Securities analysts are people who help investors understand what’s happening at companies that sold large amounts of stock to ordinary investors.
The third quarter ran from July 1 through Sept. 30.
David Windley, an analyst with Jefferies, asked UnitedHealth executives about reports that, in the spring, COVID-19 lockdown rules and other factors were leading to a sharp reduction in use of non-pandemic-related health care services.
Rex said health care utilization returned to at least about 95% of the expected levels throughout the company’s insurance businesses and health care delivery businesses.
Patients’ use of physician services is still at less than 95% of the expected level, use of outpatient surgery is at about 95% of the expected level, and patients’ use of inpatient hospital services is above 95% of the expected level, Rex said.
