FINANCIAL STRUCTURE

Financial Structure and Payment System of a Healthcare Organization

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Financial Structure and Payment System of a Healthcare Organization

Introduction

This descriptive paper presents an analysis of the interview conducted with John Thomas, an employee of UnitedHealth Group Inc. He is working as a Financial Analyst in the company for the past four years. His office is located in the 9900 Bren Road East Hopkins, MN 55343, United States. This paper presents a description of interview regarding the opinions of the various health insurance plans and the impact they have on the UnitedHealth Group Inc. in the past few years. Interview began by enquiring general overview about the company, its operations, which followed by asking him about the impact of health insurance plan on the company operations and financial position.

Healthcare Organization Overview

United Health Group (UHG) is a diversified health and well-being group. It has operations in the United States and Puerto Rico that provide healthcare services and health benefits to more than 75 million people. The group derives its revenue from premiums on risk-based products; fees from management, administrative, technology and consulting services; sales of a range of products and services related to health and well-being; and investments. UnitedHealth Group is a leader in both the commercial and government health plan markets. UnitedHealth Group was built as a healthcare delivery company. The company has achieved its success through both organic growth and acquisitions. On the health plan side, the company's numerous acquisitions over the past two decades have built a significant presence in all US regions. In the other segment, acquisitions are opportunistic and usually expand the company's expertise in a specific capability or niche market. UHG separated its enterprise into two main segments in mid-2010: United Healthcare and Optum. United Healthcare contains all of the benefit businesses while Optum is a set of healthcare services and technology assets. The United Healthcare segment represents more than 90.0% of the company's total revenue, but only 75.0% of operating profit.

Opinions about the Health Insurance Plans

John Thomas provided a detailed overview about the company. Following this I asked him about his views and opinion for the health insurance plans, especially after the impact of Obama's health care reform on the healthcare operations industry. In response to this question, John stated that America's health care system is one of the best in the world. Renowned U.S. hospitals and treatment ...