Times Union: Commentary – St. Peter’s Health Partners deserves a fair shake from insurer

The Times Union recently published an op-ed from Steven Hanks, M.D., president and CEO of Trinity Health New York’s St. Joseph’s Health and St. Peter’s Health Partners. The publication summed up the contents of the piece with their headline: “While nonprofit health providers contend with rising costs and inflation, for-profit health insurers like UnitedHealthcare have been making record profits.”

From the letter:

We will not give up trying to reach a fair agreement with UnitedHealthcare that brings us back in-network for those who trust their care with us. But while not-for-profit health systems like St. Peter’s Health Partners have been left to contend with rising costs and inflation, for-profit health insurers like UnitedHealthcare have been making record profits.

In fact, last year, UnitedHealth Group, the parent company of UnitedHealthcare, made $22.4 billion in profits, earning more than any other large commercial health insurer that year – by far – and landing the No. 4 spot in the Fortune 500 list of the largest corporations in the United States, ranked by revenue. UnitedHealthcare contributed $16.4 billion in operating earnings to its parent company’s tremendous success.

UnitedHealthcare claims to be concerned about lowering costs for members, but it is growing its own bottom line by trying to pit patients and providers against each other. It rakes in billions by choosing to increase member’s monthly out-of-pocket costs, deny claims and underpay health systems like ours and others across the country.

Click here to read the full letter.