Police were reportedly closing in on the whereabouts of the alleged gunman who fatally shot the CEO of UnitedHealthcare on Wednesday morning in the city. WRCR market analyst Connor Mahoney of Mahoney Asset Management says the shooting has put the spotlight on the American healthcare system itself…
UnitedHealthcare provides coverage for more than 49 million Americans and made more than $281 billion in revenue last year. It is the largest provider of Medicare Advantage plans in the U.S. and manages health insurance coverage for employers, and state- and federally-funded Medicaid programs. The Associated Press reported that two months ago, UnitedHealthcare was named along with Humana and CVS in a Senate report detailing how its denial rate for prior authorizations for some Medicare Advantage patients has surged in recent years.