UnitedHealth slides on report of nursing home kickbacks
Wall Street Breakfast
Seeking Alpha
3.8 • 950 Ratings
🗓️ 21 May 2025
⏱️ 5 minutes
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Man United bears rooting for Spurs
Episode transcripts: seekingalpha.com/wsb
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis. |
| 0:10.0 | Good afternoon. Today is Wednesday, May 21st, and I'm your host, Kim Kahn. Our top story so far. |
| 0:16.2 | United Health Group is under pressure again, after the Guardian reported that the managed care giant secretly paid nursing homes that helped it win Medicare enrollees and cut hospital transfers |
| 0:25.6 | for sick patients. The paper said that UNH paid thousands of dollars and bonuses to the facilities |
| 0:31.3 | as part of cost-cutting drives that saved it millions of dollars, but in some cases put |
| 0:36.1 | residents' health at risk. |
| 0:41.5 | The payments were linked to a company program under which its own medical teams were operating from nursing homes, helping the facilities to cut expenses attributed to its |
| 0:46.0 | enrollees, the Guardian reported. The report was based on thousands of secret corporate |
| 0:50.3 | and patient records, and two whistleblower declarations presented to Congress this |
| 0:54.8 | month. More than 20 current and former United Health and nursing home employees also gave |
| 0:59.8 | details of the alleged practices. The company denied the allegations, noting that any suggestion |
| 1:04.9 | implying that its staffers were involved in preventing hospital transfers, quote, is verifiably |
| 1:09.9 | false, unquote. Its payments to nursing homes help avoid unnecessary hospital transfers, quote, is verifiably false, unquote. |
| 1:11.3 | Its payments to nursing homes help avoid unnecessary hospitalizations, and its partnerships |
| 1:16.0 | helped the facilities to improve health outcomes, United Health added. |
| 1:20.1 | Last week, UNH shares ended an eight-day losing streak amid insider purchases following the |
| 1:25.4 | abrupt resignation of former CEO Andrew Whitty |
| 1:28.2 | and a Wall Street Journal report about a DOJ criminal probe against the company. |
| 1:33.4 | HSBC cut the stock to reduce, citing concerns related to the leadership change, |
| 1:38.2 | the fact that 2025 guidance was pulled, and alleged Medicare fraud. |
| 1:42.7 | Analyst said, the downside risk on 2025 adjusted EPS has increased |
| 1:47.5 | post-guidance cancellation, giving the new CEO a kitchen-sinking opportunity. We also see potential |
... |
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