- The stock price of UnitedHealth Group Inc (NYSE: UNH) has received a price target of $405 by Barclays. These are the details.
The stock price of UnitedHealth Group Inc (NYSE: UNH) has received a price target of $405 by Barclays. And Barclays analyst Steven Valiquette reiterated a “Buy” rating on the shares.
Recently, UnitedHealthcare announced it launched virtual primary care for employer plans. And UnitedHealthcare is expanding its telehealth offerings for employers with a new virtual primary care service, which offers access to doctors with low co-pays for routine visits over the phone or computer.
“Prior to Covid, we worked with large primary care practices… and it was really hard to get uptake. Patients wanted it, but doctors were really uncomfortable with the whole idea of seeing patients virtually,” said Dr. Donna O’Shea, Chief Medical Officer of population health management at UnitedHealthcare (the health insurance arm of UnitedHealth Group) in an interview with CNBC.
In general, doctors have been slow at adopting telemedicine largely due to reimbursement rates for virtual visits often being lower compared to in-person care. However, the COVID-19 pandemic accelerated the pace of digital adoption in the medical industry. And Government Medicare plans for seniors and private health insurers had increased reimbursement rates during the pandemic.
UnitedHealth is also partnering with telehealth company Amwell. Amwell is going to provide a platform for virtual care along with clinical services through its medical group. And the virtual primary care program is going to initially be available for employers in 11 states.
Disclosure: I have a small UNH position in my stock portfolio.