Who was UnitedHealthcare CEO Brian Thompson?

Brian Thompson, CEO of health-insurance giant UnitedHealthcare, was fatally shot Wednesday morning in Midtown Manhattan outside the locale of a company investor conference, law enforcement officials said. New York City Police Commissioner Jessica Tisch called it a “brazen, targeted attack.”

Police launched a manhunt for the shooter, who remained at large Wednesday afternoon.

Here’s what to know about Thompson and UnitedHealthcare.

Who was Brian Thompson?

Thompson, 50, was CEO of UnitedHealthcare, the nation’s largest health insurer, which is based in Minnetonka, Minnesota.

He joined the company in 2004 and rose through top leadership posts to become the CEO of the insurer in 2021, according to UnitedHealth.

He was also a top executive of the parent company though not its public face, typically playing a supporting role to CEO Andrew Witty in calls with financial analysts.

“BT was whip-smart and affable — a guy who could grasp the complexities of health care and explain them in simple, relatable terms true to his Iowa upbringing,” Matt Burns, a former UnitedHealth executive, wrote on LinkedIn on Wednesday. “In his plainspokenness, he wasn’t shy about using four-letter words nor did he suffer fools lightly, sizing up people quickly.”

Other posts on social media lauded his focus on improving the nation’s health system. In a statement, UnitedHealth Group said Thompson “was a highly respected colleague and friend to all who worked with him.”

He lived in the upscale Whistling Pines neighbourhood of Maple Grove, a small city outside of Minneapolis, according to public records. Thompson’s compensation package last year was valued at $US10.2 million, the fourth highest among top executives at UnitedHealth Group, the insurer’s parent company.

Thompson was in New York for UnitedHealth’s annual presentation of its outlook to analysts. He was walking toward the entrance of the hotel where the event was scheduled when he was shot, prompting the event to be cut short.

“I’m afraid that, as some of you may know, we’re dealing with a very serious medical situation with one of our team members,” UnitedHealth group CEO Andrew Witty said, according to a transcript by S&P Global Market Intelligence. “And as a result, I’m afraid we’re going to have to bring to a close the event today, which I apologise for. I’m sure you’ll understand.”

What is UnitedHealth?

UnitedHealth Group is the nation’s largest private health insurer and also the largest employer of physicians. UnitedHealthcare is the single biggest business unit of UnitedHealth Group.

The umbrella company, which has nearly $400 billion in annual revenue and roughly 2200 subsidiaries, helps run hospitals, has rapidly acquired outpatient surgery centres, employs middlemen that handle pharmaceutical prescriptions and payment processes, and is expanding into home health services.

It’s so big that when one of its subsidiaries fell victim to a cyber attack earlier this year, the US health-care system was brought to its knees and Congress held hearings demanding answers. Some health-care providers say they are still struggling to recoup payments that Change Healthcare, UnitedHealth Group’s subsidiary, froze after the hack.

UnitedHealth ranks as the nation’s fourth-largest company by revenue this year, just behind Apple and ahead of tech giants Alphabet and Microsoft. The insurance subsidiary which Thompson ran, UnitedHealthcare, brought in more than $280 billion last year, accounting for about 75 percent of the parent company’s revenue.

About 50 million Americans receive health coverage through UnitedHealthcare, according to the company. Of those, more than 9 million people are enrolled in UnitedHealthcare’s Medicare Advantage plans — an offshoot of traditional Medicare that allows older Americans to enroll in private health plans - according to a data analysis by nonprofit think tank KFF.

Has UnitedHealth been in the news?

The company’s size and sprawl have been criticised by lawmakers and federal officials, who have blamed the company and its subsidiaries for contributing to higher costs for consumers and frustrating people seeking health-care services.

The Justice Department has repeatedly investigated UnitedHealth Group’s acquisitions and last month sued to block the company’s $3.3 billion acquisition of Amedisys Inc., a home health and hospice services provider, arguing that it would be anti competitive because it would allow UnitedHealth to corner too much of the home health-care market.

In addition, a Senate report released in October said the company repeatedly denied Medicare Advantage patients’ requests. Patients, advocates and lawmakers have complained that the company has too aggressively used prior authorisation to reject treatment that should be covered under patients’ health plans.

UnitedHealthcare said the report mischaracterised the Medicare Advantage program and their clinical practices.

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