UnitedHealth Group CEO: US health care needs to be ‘less confusing, less complex and less costly’

In its first results since its insurance unit CEO was fatally shot in New York City, UnitedHealth Group reported Thursday weaker-than-expected fourth-quarter revenue, prompting its shares to fall in early morning trading despite quarterly profit beating projections.

In its first financial results since its insurance unit CEO was fatally shot in New York City, UnitedHealth Group reported Thursday weaker-than-expected fourth-quarter revenue, prompting its shares to fall in early morning trading despite quarterly profit beating projections. Andrew Witty, UnitedHealth Group’s CEO, defended the company’s commitment to its consumers following the murder of Brian Thompson, CEO of UnitedHealthcare, the company’s health insurance division. The attack provoked a withering public outcry, slamming UnitedHealth and other insurers for denying and delaying crucial patient care in the quest for increased profits. Witty, who praised Thompson for striving to make the health system work better for people, cited the strengths of health care in the US, but also pointed out its flaws. “It needs to be less confusing, less complex and less costly,” he said on the earnings call. Witty also cast blame on drug makers and hospitals for high health care costs, specifically pointing to pricey GLP-1 medications used for diabetes and weight loss. He noted that one of those anti-obesity drugs costs $900 in the US but is one-tenth of that price in Europe. “Ultimately, improving health care means addressing the root cause of health care costs,” he said. “Fundamentally, health care costs more in the US because the price of a single procedure, visit or prescription is higher here than it is in other countries.”