Tim Noel has been named the new CEO of UnitedHealthcare following the tragic murder of his predecessor, Brian Thompson.
Before his high-profile murder in December, Thompson had been navigating rising medical costs, criticism of the U.S. healthcare system and calls for reform.
Noel, a company veteran who joined UnitedHealth in 2007 and previously led its Medicare and Retirement division, has stepped into the CEO role during a challenging time, Forbes reported.
UnitedHealthcare has reported rising medical costs, particularly within its Medicare Advantage plans, contributing to its lowest annual net income in five years.
Despite the issues, the company saw an 8% revenue increase in 2024, reaching $400.3 billion.
Noel will focus on addressing rising healthcare costs while navigating the backlash against industry practices and strengthening UnitedHealthcare's position in the market, he said.
UnitedHealth Group CEO Andrew Witty has emphasized the need for systemic reforms to make healthcare less expensive and less complex for consumers.
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