Yet another major health plan hopes to grow revenues and profits through a new mix of products and services beyond the core medical insurance business.
UnitedHealth Group (Minnetonka, MN) said it hopes to expand its healthcare services businesses – adding that these non-health insurance lines could eventually account for 30% to 40% of company operating earnings, up from 20% today.
United also announced the formation of an “emerging businesses group” led by Rick Jelinek, most recently CEO of United’s Medicaid business. Jack Larsen takes over Medicaid, while Tom Paul becomes CEO of United’s Medicare business.
I have to admit, Jelinek has landed a cool job — pulling together new product ideas from across the enterprise, identifying new business opportunities resulting from reform, and leading a kind-of entrepreneurial research and development arm.
Extended coverage appears in the July 26 issue of Carl Mercurio’s Health Plan Market Trends Letter.
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