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The
Optum business, which offers healthcare data analytics services,
has been driving growth for the company when U.S. health
insurers are wrestling with fluctuating medical costs since the
coronavirus outbreak.
For the three months ended Sept. 30, UnitedHealth reported a
medical loss ratio - the percentage of premiums paid for medical
services - of 83.0%, worse than 81.9% a year earlier. Analysts
had expected 83.5%.
A jump in infections in the country in July and August due to
the fast-spreading Delta variant prompted hospitals in some
states to again postpone non-urgent medical procedures, while
COVID-19 cases and hospital admissions declined https://covid.cdc.gov/covid-data-tracker/#new-hospital-admissions
in September.
Revenue from the Optum unit rose 13.9% to $39.8 billion. The
segment has reported revenue growth for at least the last four
consecutive quarters.
UnitedHealth's core business that sells health insurance plans
brought in $55.9 billion in sales, an 11% rise from a year
earlier, buoyed by higher enrollment across health plans,
including its Medicare Advantage plans for older Americans and
the disabled.
Excluding items, the company reported earnings per share of
$4.52, beating analysts' estimate of $4.41, according to
Refinitiv IBES data.
UnitedHealth raised its 2021 adjusted earnings per share
forecast to a range of $18.65 to $18.90, from $18.30 to $18.80
earlier.
The company's shares rose 2% in premarket trading.
(Reporting by Manojna Maddipatla in Bengaluru; Editing by Sriraj
Kalluvila)
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