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Insurance giant UnitedHealth Group (NYSE: UNH) is blaming providers and drug companies for the growing costs of health care in the U.S.
This came after the company faced a wave of public scrutiny for its denial practices following the tragic death of Brian Thompson, CEO of its insurance arm, UnitedHealthcare.
“Fundamentally, healthcare costs more in the US because the price of a single procedure, visit or prescription, is higher here than it is in other countries,” Andrew Witty, CEO of UnitedHealth Group, said during the company’s Q4 earnings call Thursday morning. “The core fact is that prices, more than utilization, drive system costs higher. Tackling that problem will require all parts of the system and policymakers to come together.”
Despite some challenges last year, including the massive cyber attack on Change Healthcare, UnitedHealth Group’s revenue grew 8% in 2024 to $400 billion. The company affirmed its 2025 outlook of $450 billion to $455 billion.
Value-based care arrangements could be one way to help change this structure, according to Witty.