Here is a look at how parent company Optum has performed financially in 2023:
First quarter
• Optum saw double-digit growth in its first quarter with $8 billion in total consolidated earnings on revenue reaching $54.1 billion, a 25% increase year over year. The company attributed the growth to increased revenues in almost all of its health services business lines.
• Optum Health, the company’s provider arm, saw its revenue per customer served grow 35% compared to the first quarter of 2022.
• Optum Insight, the company’s data analytics business, brought in a revenue backlog of $30.7 billion, a 35% increase year over year.
• Optum Rx, the company’s pharmacy benefit manager, saw a 15% increase in revenue.
Second quarter
• Optum saw big gains in the second quarter of 2023 with a 25% increase in revenue to $56.3 billion.
• Its operating earnings grew 13% to $3.7 billion.
• Optum Health’s revenue per consumer served increased 33% year over year.
• Optum Insight’s revenue backlog increased nearly $8 billion, hitting more than $31 billion.
• Optum Rx saw revenue growth of 15%.
Third quarter
• Optum earned $56.7 billion in total revenue in the third quarter of 2023 — an increase of 22% year over year.
• Its operating earnings in the third quarter were $3.9 billion, compared to $3.7 billion in the same period last year.
• Revenue increased 29% year over year.
• The group’s revenue per patient increased by 27%, which it attributed to growth in patients treated under value-based payment models and Optum’s expansion into different levels and types of care.
• Optum Health’s third-quarter revenue grew from $18 billion in 2022 to $23.9 billion in 2023.
As of October, Optum has earned $70.8 billion this fiscal year.
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