So when UHC’s CEO was assassinated yesterday morning, on his way to brag to his shareholders about record profits
IMO a lot of the discourse on this topic is based more on vibes that reality.
UnitedHealthCare's profits are down YoY- both in absolute #s and in terms of their operating margin. (from 6.6% down to 5.6%). But if you frame the assassination as "CEO who has reduced the degree by which his company profits from sick people", you end up with a whole different batch of theories and motives.
(note that UnitedHealthcare is a subset of UnitedHealthcare Group, so you have to dig into their filings to see UHC's numbers broken out)
What really triggers me is that private healthcare operation costs are so high in the US. Ok, 5% operating margin. So for every 100 dollars paid to private insurance, you should expect what, 80 dollars to be paid for medical expenses ? It's less than 70.
Honestly I bought into the 'private sector is more efficient' quite a bit. In healthcare this simply isn't the case. In my country, depending on the year, for every 100€ the state give to our public insurance, between 88 and 93€ go to pay for medical expenses.
Healthcare is private in name and profits only. You are required to buy their product by law, they set the amount they pay for healthcare, whether or not they will pay that amount, and they decide on a whim whether or not you need a lawyer to get what you paid for. That is not a private company.
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IMO a lot of the discourse on this topic is based more on vibes that reality.
UnitedHealthCare's profits are down YoY- both in absolute #s and in terms of their operating margin. (from 6.6% down to 5.6%). But if you frame the assassination as "CEO who has reduced the degree by which his company profits from sick people", you end up with a whole different batch of theories and motives.
(note that UnitedHealthcare is a subset of UnitedHealthcare Group, so you have to dig into their filings to see UHC's numbers broken out)
What really triggers me is that private healthcare operation costs are so high in the US. Ok, 5% operating margin. So for every 100 dollars paid to private insurance, you should expect what, 80 dollars to be paid for medical expenses ? It's less than 70.
Honestly I bought into the 'private sector is more efficient' quite a bit. In healthcare this simply isn't the case. In my country, depending on the year, for every 100€ the state give to our public insurance, between 88 and 93€ go to pay for medical expenses.
Healthcare is private in name and profits only. You are required to buy their product by law, they set the amount they pay for healthcare, whether or not they will pay that amount, and they decide on a whim whether or not you need a lawyer to get what you paid for. That is not a private company.
you forgot, they don't get to set their own prices. Those are set by the State department of insurance.
Citation requested.
As well as clarity: which prices? Service provision or premiums?