Changes at UnitedHealthcare
Well, the scandal must have been too much for even his money to overcome. As reported on every major news channel, Chief Executive William W. McGuire was forced out of the CEO position for UnitedHealth Group. He was forced to resign from the company and was required to give up a portion of the $1.1 billion he holds in the much criticized stock options.
UnitedHealth Group continues to face potentially negative reactions from customers and possible legal fallout from federal investigations because of stock options granted McGuire and other senior executives. But even with this, the health insurer is likely to record 15% to 20% annual earnings growth according to some analysts
Also dismissed were its general counsel and a member of its board in an overhaul of the leadership and governance.
Maybe this is the beginning of a system-wide overhaul that is drastically needed.
UnitedHealth Group continues to face potentially negative reactions from customers and possible legal fallout from federal investigations because of stock options granted McGuire and other senior executives. But even with this, the health insurer is likely to record 15% to 20% annual earnings growth according to some analysts
Also dismissed were its general counsel and a member of its board in an overhaul of the leadership and governance.
Maybe this is the beginning of a system-wide overhaul that is drastically needed.
posted by Anonymous at 6:05 AM
5 Comments:
More of a shareholder issue than a customer issue.
Thinking about taking United Health Care back?????????????????
Most people have no idea what is happening with insurance companies' management, and don't care to know. It is an issue that is for someone else to deal with some other time. Whether that's good or bad is up for debate, but reform is unlikely until the issue becomes more personal to the general public. As screwed up as the system may be, there is not enough support for major reform because people see the status quo as safe--maybe not the best, but at least it is familiar. We saw how successful Hillary Clinton's health care reform initiative was in the 90s. It is what it is, and it will probably stay the same for some time.
Acutally, some shareholders of United were reluctant to see McGuire go, but knew it had to be done. Remember, if you had invested $1.00 in United in 1989 when McGuire assumed leadership, it would now be worth something like $8,000.
bdmd, Do you really think that if the Dems come up with a universal or national healthcare plan that one of the objectives of it will be to make sure that doctors make more money?
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