UnitedHealth Published External Reviews as Part of Transparency Push

UnitedHealth Group has taken an early step toward rebuilding investor confidence by publishing the first externally commissioned reviews of business practices that have drawn sustained regulatory and public scrutiny. The assessments, prepared by FTI Consulting and Analysis Group, characterize the company's policies as robust in structure while acknowledging persistent challenges in areas already under pressure. Chairman Stephen Hemsley, who returned to the chief executive role this year after the company's profit outlook weakened, had committed to releasing the reviews during a June shareholder meeting as part of a broader effort to restore trust. The backdrop remains difficult, with the shares down 35% so far in 2025 and expectations pointing to the lowest adjusted earnings per share since 2019.Although framed in technical consultant language, the reports provide incremental insight into how the company operates across several key businesses. UnitedHealth said it plans to pursue close to two dozen follow-up actions, including updating and centralizing internal policies, though the measures may not fully satisfy critics calling for more sweeping change. One review found that UnitedHealthcare, the insurance unit, at times had unresolved issues and repeat violations in regulatory audits focused on patient care management, including prior authorization, a recurring source of friction for providers and patients. In response, the company said it will review all clinical policy-related audit findings and work toward full remediation.The reviews also examined how UnitedHealth conducts Medicare risk assessments, which influence federal reimbursement levels, and how Optum Rx manages discounts and rebates from drugmakers. These disclosures come as UnitedHealth and two peers contest Federal Trade Commission litigation targeting pharmacy-benefit managers, while the company is also facing criminal and civil investigations by the Department of Justice. UnitedHealth has said it is cooperating with authorities and stands by its practices, while emphasizing that the consultant reviews are not legal assessments and were not conducted under formal audit standards. Even so, Hemsley said additional reviews are expected to be published next year, suggesting the transparency push could expand as the company works to stabilize sentiment.