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The company posted an adjusted profit of $6.14 per share for the second quarter ended June 30, above analysts’ expectations of $5.99, according to Refinitiv IBES data.
Some health insurers have noted a spurt in recent months in the demand for outpatient services and elective surgeries such as hip and knee replacements, which patients had delayed due to COVID-related restrictions and a shortage of hospital staff.
The increased demand has led to industry bellwether UnitedHealth (NYSE:UNH) and smaller rival Humana (NYSE:HUM) warning of a jump in their medical costs for this year.
UnitedHealth’s medical loss ratio – the percentage of spend on claims compared to premiums collected – was 83.2%, compared to analysts’ expectations of 83.37%.
