UnitedHealth Group, Inc. (UNH)
MGT211 (Section 1) FINAL PAPER
December 2, 2013
Fortune ranked the company No. 103 on the Forbes Global 2000, a list of the world’s largest companies based on sales, profits, assets and market value.United Health Group, which is a Minnesota corporation, incorporated in 1977 as the name of United Healthcare Corporation (renamed in 1998). In 1984, it became a publicly traded company. United Health Group Incorporated is a managed health care company that is No. 17 on Fortune magazine's top 500 companies in the United States. It is “a diversified health and well-being company” that provides health care and wellbeing services to Americans. It is also the second largest health insurer in the United States serving more than 70 millions people. The company operates its business both nationally and internationally. Richard T. Burke established United Healthcare in 1974 to manage the not-for-profit Physicians Health Plan of Minnesota. Then, the company was incorporated in Minnesota in 1977. However, the United health Group did not become a public traded company until 1984. Through out its 30 years of history, the company has expanded its business by acquiring many other companies. Main mission and value
The company's mission is to help people live healthier lives and to help make the health system work better for everyone. They seek to enhance the performance of the health system and improve the overall health and well being of the people they serve and their communities. They work with healthcare professionals and other key partners to expand access to quality health care so people get the care they need at an affordable price. They also support the physician/patient relationship and empower people with the information, guidance and tools they need to make personal health choices and decisions. Primarily operating business and segment
United Health Group offers a broad spectrum of products and services through six operating businesses: United Health care, Ovations, AmeriChoice, OptumHealth, Ingenix, and Prescription Solutions. The company provides diverse and comprehensive services to improve health and well-being and its customers. The company operates its business primarily in the four business segments: 1.Uniprise – it delivers customized, integrated benefit services to more than 300 large organizations, representing more than 9 million individuals. It provides health care services to large, multi-location employers and other organizations in three units: a. Uniprise Strategic Solutions.
b. Definity Health.
c. Excante Financial Service.
2. Health Care Services –is the leading national provider of health benefit plans and services to small and mid-sized employers. It consists of the company’s business in United HealthCare, Ovations and AmeriChoice. a. United HealthCare – provides health services for small and mid-sized employers, and individuals in the U.S. b. Ovations – provides specialized health and well-being services to customers who are 50 years old or older. c. AmeriChoice – provides services to beneficiaries of state Medicaid, Children’s Health Insurance Programs, and many other government sponsored health care programs. 3. Specialized Care Services -- offer a “comprehensive platform of specialty health and wellness and ancillary benefits, services and resources to specific customer markets nationwide” Some of its services include dental and vision benefits and services and groups insurance services. 4. Ingenix – is an international leader in the field of health care data, technology, and analytics. Some of its services include database and data management services, software products, publications, consulting services, outsourced services and pharmaceutical development and consulting services on a nationwide and international basis. Key Executives:
1. Stephen J. Hemsley
President and Chief Executive Officer
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