What is the likelihood of UnitedHealth layoffs in Minneapolis in 2016? Please let me know if you have any information.
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Believe it . Across the board, Cost-cutting layoffs are soon and in a big way .... Don't get caught sleeping
UnitedHealthcare in Indianapolis, In is downsizing it's Broker Service and IT employees. They were given no notice. More attrition is forthcoming, we just don't know when and in what areas.
I work at United Healthcare. They are laying off thoudands. See below and attached.
http://www.beckershospitalreview.com/payer-issues/dod-boots-unitedhealthcare-from-tricare-contracts-worth-58b.html
DOD boots UnitedHealthcare from TRICARE contracts worth $58B
July 26, 2016 | Print | Email
The U.S. Department of Defense unexpectedly dumped insurance giant UnitedHealthcare when it inked separate five-year contracts last Thursday with Humana and Health Net to manage TRICARE.
Minnetonka, Minn.-based UnitedHealthcare managed care for TRICARE's West Region since 2012, according to Military Times. Complaints surfaced about the insurer delaying provider payments and not resolving patient issues in its first year, though few complaints were filed since 2013.
In light of the Pentagon's announcement, a UnitedHealthcare spokesperson told Military Times the insurer was "evaluating the next steps and looks forward" to the department's explanation.
In addition to the contract changes, TRICARE consolidated its North, South and West Regions into two — East and West — with the East representing eastern states and areas and the West including western states and areas. The East Region combines former North and South Regions in an effort to streamline management and reduce administrative costs.
Companies were allowed to bid for more than one contract, but could only win one. No single company would be selected to manage both deals.
Louisville, Ky.-based Humana previously provided managed care to 3.1 million in TRICARE's South Region, which will grow to about 6 million in the reassigned East Region. Humana's contract is valued at about $40.5 billion.
Rancho Cordova, Calif.-based Health Net, a subsidiary of St. Louis-based Centene, previously managed care for beneficiaries in the North Region and will shift to the West Region. Health Net's contract is valued at about $17.7 billion.
The TRICARE contracts are some of the biggest spending agreements the Pentagon awards, according to Military Times. Congress is currently considering a number of changes to military insurance policies, including raising beneficiaries' annual fees and streamlining provider arrangements. Members of both the House and the Senate will continue to debate the Military Health system this fall.
TRICARE has 9.4 million beneficiaries. Under the new contracts, healthcare delivery will begin 2017.
As the company responds to large losses from the Obamacare exchange in 2015-2016, anything can happen. Fourth quarter 2015 earnings were reduced by $425 million due to the exchange program. According to announcements in Oct 2015, more losses are expected in 2016.
Innovation and electronic management make processes more efficient and reduces the number of people involved in the process. Any company has 'business as usual' until the event. To minimize the risk of sabotage and preserve integrity in business practices, there's rarely a heads-up prior to the layoff. All public companies have a duty to stockholders to improve value. Healthcare exudes change and in these times more than ever. Tighten your seat belt and continue to bring value to your position in the company.