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Optum was formed as a subsidiary of UnitedHealth Group in 2011 by merging UnitedHealth Group’s existing pharmacy and care delivery services into the single Optum brand, comprising three main businesses: OptumHealth, OptumInsight and OptumRx. [2] In 2017, Optum accounted for 44 percent of UnitedHealth Group's profits. [3]
Formed in 2011, Optum says that it provides "data and analytics, pharmacy care services, population health, healthcare delivery, and healthcare operations". [78] It is organized into three businesses: OptumHealth – provides primary and secondary care. [78] [79] OptumInsight – provides data analytics, technology, and operations services. [78]
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Rechtin worked for Bain & Company for over a decade, and was then president of UnitedHealth Group's subsidiary Optum. [1] In 2023, Humana announced that Bruce D. Broussard would step down as CEO in 2024, to be replaced by Envision Healthcare president and CEO Rechtin, after which Broussard would continue in a strategic advisor role into 2025. [4]
In July 2018, Witty became CEO of Optum, a division of UnitedHealth Group. [22] In November 2019, he was named president of UnitedHealth, in addition to his role as CEO of Optum. [23] From April 2020 to December 2020, Witty took a leave of absence from Optum to assist the World Health Organization in developing a vaccine for COVID-19.
As of 2023, PBMs managed pharmacy benefits for 275 million Americans and the three largest PBMs in the US, CVS Caremark, Cigna Express Scripts, and UnitedHealth Group’s Optum Rx, make up about 80% of the market share covering about 270 million people [4] [5] with a market of almost $600 billion in 2024. [6]
Dhivya Suryadevara is an Indian-American executive and the CEO of Optum Financial, part of UnitedHealth Group. She is the former chief financial officer of Stripe , an American e-commerce payments company and the former executive vice president and chief financial officer of General Motors .
Burke founded UnitedHealth Group and played a significant role in the development of the HMO and Physicians Health Plan (PHP) while he worked at InterStudy, a think tank focused on health care with Dr. Paul M. Ellwood Jr. [2] [3] [4] Burke took the view that healthcare should be economized and hospital admissions should be limited, sometimes at the protest of doctors.