Responding to investor worries over a 6% drop in company stock on Thursday, UnitedHealth (NYSE:UNH) CEO Andrew Witty underlined the necessity of a less complicated and more easily available healthcare system.
Speaking at an investor conference, Witty noted continuous difficulties with access and affordability. "It's not just about cutting expenses but also making healthcare easier to navigate," he said. After top CEO Brian Thompson's December shooting, UnitedHealth's stock is still under pressure, which helped to wipe off $100 billion in market capitalization by virtually 20% loss in share value.
Further adding to the volatility, President-elect Donald Trump promised to target middlemen in the drug business, including OptumRx of UnitedHealth. Investor fears have also been stoked by the company's declining than-expected Q4 income and growing medical loss ratio.
Emphasizing that any change will need cooperation throughout the healthcare system and government, Witty pointed to high U.S. medical and medication prices as main cost drivers.
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