Optum has reported total revenues of $226.6 billion for the fiscal year 2023, a 24% increase compared to the previous year, according to UnitedHealth Group's fourth quarter earnings report released Jan. 12.
Five things to know about Optum's financial performance:
- Optum Health, Optum's healthcare services arm, emerged as the driving force behind the substantial growth. Overall, Optum brought in revenues of $59.5 billion in the fourth quarter alone.
- Total earnings from operations in 2023 reached $15.9 billion, reflecting a substantial year-over-year growth of 13.4%. The fourth quarter contributed significantly to this increase, with earnings reaching $4.6 billion. The operating margin for the entire fiscal year was reported at 7%.
- Optum Health reported revenues of $95.3 billion in 2023, a growth rate of 33.9%. Notably, the division served a substantial customer base of 103 million in the fourth quarter.
- Optum Insight, Optum's data analytics arm, reported revenues totaling $18.9 billion in 2023. This represents a year-over-year growth of 29.8%.
- Optum Rx, the pharmaceutical services arm of Optum, reported revenues reaching $116.1 billion in 2023, marking a 16.4% growth. The division also processed 1.54 billion adjusted scripts over the course of the year.