BREAKING: Big health insurer @UnitedHealthGrp is stiffing our most essential frontline health care workers during #COVID19 -- emergency room physicians -- while enriching its CEO in a way that demands scrutiny from Congress (CC: @FrankPallone). THREAD 1/12
April through June, the peak of the pandemic, was the most profitable quarter in United’s history. While our economy was in shambles and tens of thousands of us were dying, United’s $6.6 billion in profits were double what they were for the same period last year. 2/12
One way United is achieving its windfall profits in the middle of a pandemic: paying ER doctors less. 3/12
ER doctors have told me United and other insurers are automatically denying and down-coding ER claims in ways they say violates federal law. 82% of respondents to one group’s recent survey said they had experienced denials or down coding of ER claims over the past year. 4/12
As if that wasn’t bad enough, United and other big insurers have been refusing to renew contracts with ER docs unless they agree to accept major pay cuts. 5/12
These actions threaten patients. They force hospitals and physician groups to reduce the number of docs on the ER floor, which leads to delays in care and potential ER department closures. 6/12
Unlike other physician groups that were not considered essential during the pandemic, ER docs had to stay on the job. They were the only physician group practices that were required to stay open. 8/12
But while ER docs were risking their personal and family health to care for #COVID19 patients, CEO David Wichmann and United’s shareholders were getting richer by the day, so much so that United has become the darling of Wall Street. 9/12
That’s one reason why Wichmann is so highly paid. Wichmann’s $18.9 million pay last year was 348 times the average worker salary at the company, one of the biggest gaps in corporate America, according to Standard & Poors. 10/12
Wichmann’s pay was actually much higher than that. When you include the value of his stock that vested and the stock options he exercised, his total compensation in 2019 topped $52 million. 11/12 startribune.com/ceo-pay-watch-…
Please see my point about violating federal law, @FrankPallone, @RepKatiePorter, @SenWarren, @SenAlexander, @SenatorBraun. The future of emergency medicine in America is at risk. 12/12 END
