UnitedHealth Group's Optum earned $63.9 billion in total revenue in the third quarter of 2024 — an increase of 11.7% year over year, according to the company's financial report.
Optum has a portfolio of more than 90,000 affiliated physicians and is the parent company of ASC chain SCA Health.
Here are five things to know:
1. Optum reported $4.5 billion in earnings from operations for the quarter, up from $3.9 billion last year.
2. Optum reported $63.9 billion revenue for the third quarter of 2024, up 12% from the year prior. Operating margin for the three month's end was 7%, higher than the average hospital margin of 4.2%.
3. Optum Health's revenue hit $25.9 billion for the quarter, up $2.1 billion year over year, driven by growth in the number of value-based care patients and clinical support for patients in all sites of care, including in-home and clinic.
4. Optum Insight hit $800 million in operating earnings for the quarter and revenue backlog grew by more than $1 billion in the last year.
5. "The Optum Health value-based care businesses that we have been building for well over a decade are beginning to approach the very early stages of their potential … and will be a key differentiating growth factor in the years ahead," UnitedHealth CEO Andrew Witty said in the third quarter earnings call.