In a significant step towards greater accountability and improved operations, UnitedHealth Group Inc. has publicly unveiled a comprehensive 23-point strategy based on the initial findings of an in-depth, independent assessment of its business functions. This initiative, framed as a commitment to enhanced openness and efficiency, reflects the company's proactive response to increasing industry scrutiny.
This strategic overhaul is being overseen by the company's internal audit and advisory services department, with the majority of the planned actions anticipated to be finalized by the close of 2025 and all points concluded by March of the following year. The announcement follows a period of heightened public discussion regarding the practices of private insurers, particularly concerning aspects such as coverage decisions, costs, and patient access to healthcare services, areas where UnitedHealth, as a prominent player, has been a focal point. The independent evaluation was initiated in July, coinciding with revelations of Department of Justice inquiries into the company's Medicare billing procedures. This program is among the first major undertakings under the tenure of CEO Steve Hemsley, who assumed leadership earlier this year.
Two consulting firms, FTI Consulting and the Analysis Group, conducted the independent reviews, with FTI's assessment of UnitedHealthcare's Medicare Advantage risk and care management finding general outperformance compared to peers but also highlighting areas needing improvement, such as authorization timeliness and regulatory responsiveness. The Analysis Group, reviewing Optum Rx's policies on manufacturer discounts, found no deficiencies requiring immediate corrective action, but suggested enhancements in dispute resolution. Further findings from these reviews, including those on diagnosis coding and evidence-based medical policies, are slated for release in the coming year. This proactive disclosure underscores the company's dedication to establishing a new benchmark for transparency and accountability within the healthcare industry.
This decisive action taken by UnitedHealth Group signals a forward-thinking approach to corporate governance and public trust. By actively engaging with independent evaluations and implementing clear, measurable improvements, the company is not only addressing past concerns but also setting a precedent for future industry standards. This commitment to transparency and operational excellence demonstrates a dedication to serving patients and the broader healthcare system with integrity and a focus on continuous betterment.