United Healthcare Essay - 1136 Words

UnitedHealth Group is a diversified health care company, and a worldwide leader in helping people live healthier lives and taking the necessary steps in making the health system work better for everyone. The UnitedHealth group serves more than 85 million individuals worldwide with health benefits and services. In 2012, they produced revenues of $110.6 billion and were ranked number 17 in the Fortune 500. The economic and political segments would rank the highest in influencing the UnitedHealth Group. The economic segment includes factors such as interest rates, inflation, trade factors, personal, and business savings. These factors affect the income received by individuals, business, and the company in question in this discussion.†¦show more content†¦The health sector is among the most important sectors in the United States economy. The government has enacted certain laws that affect the corporation’s activities and the insurance industry in general. The regulation affects competition among the health insurance companies, and the insurance industry in general. Among the five forces of competition; existing competitive rivalry between suppliers, threat of new market entrants, bargaining power of buyers, power of suppliers and threat of substitute products, the most significant for UnitedHealth Group are threats for substitute products and rivalry among competing firms. Given the fact that there are numerous healthcare insurance firms in the world; there are also a number of substitutes for the corporation products and services. In recent years, the banking industry has become involved in insurance activities. They provide some medical plans, which act as substitutes to the UnitedHealth Group products. Banc assurance, otherwise known as the bank insurance model, is a very common phenomenon in this global world. Banc assurance is an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank’s client base. This type of partnership can be profitable for both , the bank and the insurance company. Banks can earn additional revenue by selling the insurance products and insurance companies areShow MoreRelatedHealthcare Organization Study: United Healthcare1682 Words   |  7 Pages Healthcare Organization Study: A Case Study over United Healthcare Grand Canyon University- NRS-451V March 30, 2014 Healthcare Organization Study: A Case Study over United Healthcare The United Healthcare is recognized as a â€Å"Charter Medical Incorporated founded by a group of physicians and other health care professionals† in 1974 used to expand health coverage choices for clients whose commission is â€Å"helping people live healthier lives and helping to make the health system workRead MoreHealthcare Of The United States1927 Words   |  8 PagesIt is clear that healthcare in the United States was financially out of control, and fundamentally failing. Healthcare needed to change to protect its future, just as everything else must change. 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