(Reuters) – UnitedHealth Group Inc on Friday reported a quarterly profit that beat Wall Street estimates, helped by lower medical costs, boost from its Optum health services unit and strength across its large health insurance business.
Health insurers’ costs have varied during the pandemic, but due to nationwide vaccination program COVID-related hospitalizations have reduced over the last one year, thereby easing medical cost.
Optum includes UnitedHealth’s pharmacy benefit management business that helps negotiate the terms of coverage between health insurers, their clients and drug manufacturers.
Excluding items, the company reported a profit of $5.34 per share for the fourth quarter ended Dec. 31, beating the average of analysts’ estimates of $5.17 per share, according to Refinitiv IBES data.
(Reporting by Leroy Leo and Khushi Mandowara in Bengaluru; Editing by Shailesh Kuber)
