Care Deferral Dings OptumRx 2Q Earnings, Big RFP Wins

Although the steep decline in health care utilization tied to COVID-19 lockdowns proved to be an overall boon for UnitedHealth Group during the second quarter of 2020, that was not the case for the company’s PBM subsidiary.

OptumRx’s earnings declined 6% year over year in the second quarter as prescription volume dropped due to “lower care activity,” UnitedHealth Chief Financial Officer John Rex said during a July 15 earnings call. “Unsurprisingly, given the sharp drop in primary care and specialist visits, first fills of prescriptions declined by about one-third early in the second quarter,” he said, but added that first fills “began to recover as the quarter progressed and have continued to do so as care activity increases.”

© 2022 MMIT
Leslie Small

Leslie Small

Leslie has been reporting and editing in various journalism roles for nearly a decade. Most recently, she was the senior editor of FierceHealthPayer, an e-newsletter covering the health insurance industry. A graduate of Penn State University, she previously served in editing roles at newspapers in Pennsylvania, Virginia and Colorado.

Related Posts

workers-prepping-infusion-drug
May 12

Major PBMs Look Ahead to 2023 for Biosimilars Boom

READ MORE
wall-street-sign
May 12

Centene Plans to Sell Magellan Rx, PANTHERx Rare for $2.8 Billion

READ MORE
pills-and-dollars
May 12

Study: With High Prices, Rebate Revenue Is Growing for PBMs

READ MORE

GAIN THERAPEUTIC AREA-SPECIFIC INTEL TO DRIVE ACCESS FOR YOUR BRAND

Sign up for publications to get unmatched business intelligence delivered to your inbox.

subscribe today