Optum’s data and analytics division experienced a 35% year-over-year revenue growth following its acquisition of Change Healthcare for $13 billion. This was highlighted in UnitedHealth Group’s third-quarter earnings report released on October 13th. The report also mentioned that the revenue backlog surged by over $7 billion, reaching a total of more than $31 billion compared to the previous year. The growth in revenue was attributed not only to the acquisition but also to the technology products and services from Optum Insight that are marketed to health systems, payers, and life sciences organizations.
For the third quarter, Optum’s overall revenue stood at $56.7 billion, marking a 22% increase year over year. Specifically, Optum Insight’s revenue was close to $5 billion in the third quarter, a rise from $3.7 billion during the same timeframe the previous year. After the federal government’s unsuccessful attempt to challenge the merger between Optum and Change, UnitedHealth acquired data from millions of healthcare transactions, encompassing a significant portion of the U.S. population. At the time of the acquisition, most payers had ties with Change, and the company was connected with thousands of providers. Post-merger, UnitedHealth announced plans to invest a minimum of $100 million to integrate Optum Insight with Change Healthcare. CEO Andrew Witty expressed optimism about the merger, anticipating the emergence of a “new Optum Insight” from this integration in the upcoming quarters.