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How will UnitedHealth Group's stock price change by end of 2024 following the investigation?
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Story
STAT Investigation Reveals UnitedHealth's Profit-Driven Practices, Likens It to Modern-Day Standard Oil Amid Lawsuit
Jul 25, 2024, 12:19 PM
A recent investigation by STAT News has revealed how UnitedHealth Group, a major healthcare insurer, is leveraging its extensive network of over 90,000 physicians to maximize profits, often at the expense of patients and doctors. The investigation, which includes interviews with over two dozen current and former doctors and executives, health policy experts, and patients, as well as reviews of court records and a 600-page medical coding document, highlights the company’s practices in the Medicare Advantage system. UnitedHealth is accused of encouraging clinicians to diagnose more, and sometimes dubious, illnesses to boost profits through bonuses and performance reviews. The company has been likened to a modern-day Standard Oil due to its dominance in the healthcare sector. Additionally, 39 healthcare providers have filed a lawsuit against UnitedHealth Group over a cyberattack related to its subsidiary, Change Healthcare.
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