Larger layoffs should be expected in 2024. Before I left a few months ago, I was in meetings discussing 2 year cost cutting roadmap following acquisition of ChangeHealth. Things could change but wanted to share what I was involved in.
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Uhg has done with chc what chc has done with other companies before, swallow and digest them.
Post ID @1zap+1ozGe2uR nailed it!!!
M&A easy $. Formula = Acquired. Keep temporarily. RIFs (redundant or not)/outsourced/offshoring. Rubber stamped by the Board on “well deserved” stock options/bonuses for the C level. This is why people are climbing the corporate ladder to gain personal wealth. Nothing more .. sadly majority of the staff suffered.
So laughable, he didn't "RETIRE" - he's "leaving to pursue other endeavors" - basically he was asked to leave. It's beyond ridiculous. They are just plucking former Change Healthcare leadership from their leadership positions. The BIG SHIFT.
Basically a slap in the face. We got what we want and no longer need your services. Neil likely got a real nice package. Waiting 3 pay periods to get his money won't really matter to him unlike the rest of us still waiting to receive our compensation. It's insensitive, unprofessional. Don't they know we have families to feed. Oh that's right, they don't care!
Read some of the other posts, when people make suggestions to leadership or challenge their thoughts, this is what happens. UHG, Optum, UHC does't really understand the businesses they buy, they just buy them because those companies are a threat or have something they need or want so they want to remove them from the playing field. They buy 'em, own 'em and destroy 'em and move on. It's that simple.
Whoever said that UHG is only looking for CHC clearinghouse data is inaccurate. With the cost transparency rules that have been put in place all payers in commercial lines of business must put their rates on their websites. All this data is public. Why would this company spend billions of dollars for something when they can mine it from the Internet with just IT resources?
Neil retired? I didn’t see this announcement. Where was this communicated? Any more info on this?
Looks like Neil Crescenzo just “retired” this morning. Not super familiar with Change Healthcare but apparently he was their CEO. Ruh ro Shaggy.
That about is the gist of things. This person hit the hammer right on that nail.
ChangeHealth is part of Optum Insight. I was pretty clear in that it was related to areas associated with ChangeHealth so not cryptic at all.
All contractors after this month are not being renewed unless you are on the approved vendor list (read: cheap, low quality labor like Wipro).
It is evident now that they only acquired Change Healthcare for one reason. They were the largest clearinghouse of insurance company data. That's what they wanted to get their hands on. This way, despite lying to the government, they would have all of the information on what the other insurance companies were paying for procedure codes etc. This would give them competitive advantage in the market to undercut or raise rates, etc. After all, UHG is the largest insurer.
The government failed in their efforts to make a case and the judge was obviously in cahoots with UHG; I am sure at some point, all will learn that he way paid off etc. In the meantime, as consumers, we will all pay the price for this corporate greed. UHG is in violation of their agreements with the government and has the data they need and are using it the way they said they would not.
Now that UHG has what they were after, they no longer need Change Healthcare or its very smart and talented people. They are laying off and destroying the very business that Change Healthcare built. Change Healthcare cared about it's customers, cared about its products and developed incredible relationships with every size facility and company. They had a great name in the marketplace BUT then they became UHG. Their CEO also tainted by greed sold them out.
So now, limb by limb, the UHG henchmen are dismantling the Change Healthcare regime, laying off individuals with the history, background and intrinsic knowledge needed to keep growing. Oh wait, they didn't want the business; they only wanted the data. Now that they have it, they don't need the smart people because smart people are a threat. They layoff and they don't even care about a transition plan, succession plan; they lay off and bid you farewell.
Good riddance. So much healthier to be out of that toxic environment, not having to listen to their condescending, rude, pushy, mean, demeaning, people who are allowed to treat the acquired company's staff like cr-p every minute of every day.
No one is safe! No one is valued; people are a dime a dozen. Remember, whatever job you do, Offshore can do cheaper. You know the people they employ who work for pennies on a dollar, don't understand our culture or healthcare system, and work like robots. Those are the people they want, the ones who are quiet, subservient, slaves who work for cents and don't question, understand, or know what they are doing. It's easier for the company.
They will continue to acquire and then layoff the acquirees, they will continue to Offshore or Globalize, and employ these companies and people in third world countries. This is how America will fail. The greed of corporate America at the expense and Health of it's citizens as they profit from illnesses of US citizens. Healthcare should not be so expensive or for profit. We are an advanced country with the highest rate of cancer, and other diseases.
They acquire any company that threatens their stronghold on the market. Any company that is a competitor with a large market share. Any competitor who has the data they want or need to give them the competitive edge. It is these companies that they see as a threat so they use their money to swallow them up. This needs to stop.
It is companies like United Health Group who are the problem or part of the problem and not the solution.
Run Forrest Run and don't look back! You will be all the better for it.
So let’s not be cryptic or incognito. If you have real pull Or information you should know to disclose what segments of Optum will see and face this directly and be impacted by it directly since you speak as if you know the intimate details of the “2024 Roadmap”