December 5th 2024.
Early Thursday morning, a tragic event shook the bustling streets of Manhattan. UnitedHealthcare CEO Brian Thompson was shot and killed by a masked gunman outside of a hotel. The assailant, who is still at large, used ammunition with words like "deny," "defend," and "depose" emblazoned on them, according to a law enforcement official. As the news spread, the New York Police Department released photos and asked for the public's help in identifying a person of interest.
Thompson, who was only 50 years old, had an impressive career at UnitedHealth Group Inc, where he had worked for 20 years. He had recently taken over as CEO of the insurance arm in 2021, after successfully running their Medicare and retirement business. As CEO, he led a company that provided health coverage to over 49 million Americans, a number larger than the entire population of Spain.
UnitedHealth is known for being the largest provider of Medicare Advantage plans, as well as selling individual insurance and administering health coverage for thousands of employers and government-funded programs. Last year alone, the company brought in a whopping $281 billion in revenue, making it the largest subsidiary of the Minnetonka, Minnesota-based UnitedHealth Group. With an annual pay package of $10.2 million, Thompson was one of the highest-paid executives in the company.
Despite his success, Thompson was not a household name outside of the healthcare industry. Investors may have been more familiar with the face of the company's CEO, Andrew Witty, a knighted British triathlete who has even testified before Congress. However, Thompson did make headlines for his role in shaping the way Americans receive healthcare. He was a proponent of "value-based care," which focuses on keeping patients healthy rather than just treating them when they get sick.
At an investor meeting last year, Thompson spoke about his company's shift towards value-based care, saying, "Health care should be easier for people." He acknowledged the challenges, but believed that this approach would ultimately benefit families, who would no longer have to make difficult healthcare decisions on their own.
In 2021, Thompson also drew attention when UnitedHealth, along with other insurers, faced criticism for a plan to deny payment for non-critical visits to hospital emergency rooms. The American Hospital Association wrote an open letter to Thompson, expressing concern that this policy could discourage patients from seeking emergency care when needed. UnitedHealth responded by postponing the implementation of the change.
Thompson, a graduate of the University of Iowa, lived in a Minneapolis suburb with his wife and two high school-aged sons. He was in New York to speak at an investor meeting when the shooting occurred. As he was entering the building, he was shot in the back by a masked assailant who then fled on foot before escaping on an e-bike into Central Park. The New York Police Department is currently investigating the incident and looking into Thompson's social media accounts and interviewing employees and family members. According to Chief of Detectives Joseph Kenny, there were no apparent issues or threats towards Thompson leading up to the shooting. He did not have a security detail with him at the time.
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