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Brian Thompson (businessman)

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Brian Thompson
Born
Brian Robert Thompson

(1974-07-10)July 10, 1974
Ames, Iowa, U.S.
DiedDecember 4, 2024(2024-12-04) (aged 50)
New York City, U.S.
Cause of deathGunshot wounds
EducationUniversity of Iowa (BBA)
TitleCEO of UnitedHealthcare
Term2021–2024
SpousePaulette Reveiz
Children2

Brian Robert Thompson[1][2] (July 10, 1974 – December 4, 2024) was an American businessman who was the chief executive officer (CEO) of UnitedHealthcare, the insurance arm of UnitedHealth Group, from April 2021 until his killing in December 2024.

Thompson was born in Ames, Iowa, and received a bachelor of business administration with a major in accounting at the University of Iowa in 1997. From then until 2004, Thompson was a manager at PwC, then moved to UnitedHealth Group, becoming the CEO of their UnitedHealthcare unit in 2021.

Thompson was killed in New York City in December 2024 by an assailant while he was on his way to an investors' meeting.

Education

Thompson was born on July 10, 1974, in Ames, Iowa, one of two sons born to Dennis and Pat (née Hunter) Thompson.[3][4][5] His father was a grain elevator worker.[3] He was raised in the nearby area, and graduated in 1993 as the class valedictorian of South Hamilton High School in Jewell Junction, north of Ames.[4][6][7][8] He then attended the University of Iowa in Iowa City, where he received a bachelor's degree in business administration with a major in accounting in 1997, and met his future wife.[7][9] At the University of Iowa, he was also valedictorian.[10]

Career

From 1997 to 2004, Thompson worked at PricewaterhouseCoopers (PwC) as a manager in the transaction advisory services group of the audit practice. He joined UnitedHealth Group in 2004 and was named the CEO of UnitedHealthcare government programs which included Medicare and retirement as well as community and state divisions in 2021. His total compensation was $9.6 million in 2021, $9.8 million in 2022, and $10.2 million in 2023.[11] Under his leadership, UnitedHealthcare's profits increased from $12 billion in 2021 to $16 billion in 2023.[12] At the time of Thompson's death, the company was the largest health insurer in the United States.[13]

The Associated Press reported that Thompson generally kept "a low public profile" but he received attention for an announcement at a investor meeting in 2023 that UnitedHealthcare was shifting to a value-based health care model of payment to health-care providers, as opposed to a fee-for-service model.[14]

Controversies

Claim denial rates by insurance companies, as of December 5, 2024

Reports of increasing rates of prior authorization denials prompted investigations by ProPublica and the United States Senate, investigations which were described as a "stain" on Thompson's time of leadership by Fortune.[12] The Senate report, published by the United States Senate Homeland Security Permanent Subcommittee on Investigations, focused in particular on denials for Medicare Advantage plans serving the elderly and disabled.[15] The investigation revealed that in 2019, UHC's prior authorization denial rate was 8%. He became CEO in 2021, and by 2022 the rate of denial had increased to 22.7%. For both Medicare and non-Medicare claims, UHC declines claims at a rate which is double the industry average.[12]

In 2021, Thompson was criticized in an open letter from the American Hospital Association regarding a plan from UnitedHealthcare to start denying payment for what it deemed non-critical visits to hospital emergency rooms. UnitedHealthcare responded by delaying rollout of the change.[14] Additionally, under his leadership, UnitedHealthcare began using artificial intelligence to automate claim denials, resulting in their customers either incurring significant out-of-pocket medical bills or being unable to receive needed medical treatment.[16]

In May 2024, the Hollywood, Florida Firefighters' Pension Fund sued Thompson and two UnitedHealth Group executives (CEO Andrew Witty and executive chairman Stephen J. Hemsley), alleging fraud and insider trading. The plaintiff alleges that the defendants failed to disclose an antitrust investigation into the company by the United States Department of Justice and by selling stock options before the probe was made public.[6][17][18][19] Data concerning these allegations and notice of its report to the Securities and Exchange Commission were initially published in the Minnesota Star Tribune in February 2024.[20]

Personal life

Thompson was known to friends and colleagues as B.T.[3] He was married to Paulette (née Reveiz) Thompson, a physical therapist and fellow University of Iowa graduate.[21] They had two sons.[22][23] At the time of his death, Brian Thompson and his family were residents of Maple Grove, Minnesota.[24] Brian and his wife had been living in separate residences in Maple Grove.[25]

Thompson visited Ireland on several occasions as UnitedHealthcare's sister company Optum has operations in the country, and was known to have enjoyed playing golf there in Donegal.[26] He was an active supporter of the Special Olympics movement and was honorary co-chair of the 2026 Special Olympics USA Games.[27]

Death

Main article: Killing of Brian Thompson

On December 4, 2024, Thompson was in New York for an annual UnitedHealthcare investors meeting.[28] He left a Marriott hotel where he was staying, which was across the street from the New York Hilton Midtown, where the meeting was to be held. As he was walking along West 54th Street toward the Hilton at around 6:45 am local time, he was shot from behind by a person dressed in a hooded jacket.[29] Thompson was taken to Mount Sinai West hospital in Manhattan, where, at 7:12 am, he was pronounced dead.[30]

Reactions

Following his killing, public officials, which included Minnesota governor and former Democratic vice president nominee Tim Walz and Senator Amy Klobuchar, expressed dismay and offered condolences to Thompson's family. Walz said that he knew Thompson.[31] Democratic U.S. representative Dean Phillips wrote that he was "horrified by the assassination of my constituent, Brian Thompson, this morning in NYC and have his family in my prayers".[32]

The UnitedHealth group CEO Andrew Witty released a video to employees in which he stated that his company's mission was essential to U.S. healthcare, saying that they "guard against the pressures that exist for unsafe or unnecessary care to be delivered, in a way that makes the whole system too complex and ultimately unsustainable”, and praised Thompson for his dedication to that mission.[33]

In contrast, many social media users shared their contempt for Thompson, UnitedHealthcare, and the American health insurance system.[34][35][36][37] The Washington Post said that many people mocked Thompson's death and others felt satisfaction.[38] One lecturer at Columbia University was quoted by The Financial Times as tweeting "Today we mourn the deaths of 68,000 Americans who needlessly die each year so that insurance company execs like Brian Thompson can become multimillionaires",[39] while one physician told The Daily Beast that they sympathized with the family and said the perpetrator should be brought to justice for the killing, but also said that Thompson's role as CEO had led to a great number of suffering Americans "on the order of millions".[40]

See also

References

  1. ^ "Q2 2024 Unitedhealth Group Inc Earnings Call". Thomson Reuters StreetEvents. July 17, 2024. Retrieved December 5, 2024 – via Yahoo Finance.
  2. ^ Tozzi, John; Miller, Myles (December 4, 2024). "UnitedHealth Executive Fatally Shot in NYC, Sparking Manhunt". Bloomberg News. Retrieved December 4, 2024.
  3. ^ a b c Wilde Mathews, Anne; Bauerlein, Valerie (December 4, 2024). "Slain Health-Insurance Executive Brought Small Town Geniality to Big Job". Wall Street Journal.
  4. ^ a b Gabriel, Trip (December 4, 2024). "Brian Thompson, Health Insurance Executive, Dies at 50". The New York Times. Retrieved December 4, 2024.
  5. ^ "Births". Ames Tribune. July 11, 1974. p. 10. Retrieved December 8, 2024 – via Newspapers.com. To Mr. and Mrs. Dennis Thompson, Stanhope, a boy born at 1:01 p.m. on July 10 at Mary Greeley Hospital.
  6. ^ a b Towfighi, John; Goldman, David (December 4, 2024). "Who was Brian Thompson, the CEO of UnitedHealthcare fatally shot in Manhattan?". CNN. Retrieved December 4, 2024.
  7. ^ a b "University of Iowa alum and UnitedHealthcare CEO Brian Thompson fatally shot in Manhattan". KGAN. December 4, 2024. Retrieved December 4, 2024.
  8. ^ James, Kayla (December 5, 2024). "'He was the smartest, great friend': Childhood friend of Brian Thompson recalls their friendship". KCCI. Retrieved December 6, 2024. Thompson grew up with his family southeast of Stanhope.
  9. ^ Multiple references:
  10. ^ "Who was Brian Thompson, the UnitedHealthCare CEO, Iowa native murdered in New York City?". Des Moines Register. December 5, 2024. Archived from the original on December 5, 2024.
  11. ^ Czachor, Emily Mae (December 5, 2024). "After fatal shooting of UnitedHealthcare CEO Brian Thompson, here's what we know". CBS News. Archived from the original on December 6, 2024. Retrieved December 7, 2024.
  12. ^ a b c Rogelberg, Sasha (December 5, 2024). "Slain UnitedHealthcare CEO Brian Thompson's tenure was marked by rocketing profits—and myriad accusations of insider trading and coverage denial". Fortune. Retrieved December 5, 2024.
  13. ^ Florko, Nicholas (December 5, 2024). "Murder Is an Awful Answer for Health-Care Anger". The Atlantic. Retrieved December 7, 2024.
  14. ^ a b Geller, Adam; Murphy, Tom (December 4, 2024). "UnitedHealthcare CEO kept a low public profile. Then he was shot to death in New York". AP News. Associated Press. Retrieved December 4, 2024.
  15. ^ Murphy, Tom (December 5, 2024). "Words on ammo in CEO shooting echo common phrase on insurer tactics: Delay, deny, defend". AP News. Retrieved December 5, 2024.
  16. ^ Luhby, Tami; Duffy, Clare (December 6, 2024). "Following killing of UnitedHealthcare CEO, stories flood social media of denied insurance claims". CNN. Retrieved December 6, 2024.
  17. ^ Tozzi, John; Melin, Anders (April 16, 2024). "UnitedHealth chair, execs sold $102M in stock before DOJ probe became public". Crain's New York Business. Retrieved December 5, 2024.
  18. ^ Graig Graziosi (December 5, 2024). "UnitedHealthcare CEO gunned down in Manhattan sold company stocks just before DOJ probe made public". The Independent. Retrieved December 5, 2024.
  19. ^ "Hollywood Firefighter Pension Lawsuit Alleges Insider Trading by United Health Execs, Including Slain CEO". Chief Investment Officer Magazine. December 6, 2024.
  20. ^ "Databank – Insider Trading". Star Tribune. Minneapolis, Minnesota. February 26, 2024. p. D2. Retrieved December 8, 2024 – via Newspapers.com.
  21. ^ Snowbeck, Christopher (December 4, 2024). "UnitedHealthcare CEO Brian Thompson killed in 'brazen, targeted attack' in NYC; manhunt underway". Star Tribune. Retrieved December 4, 2024.
  22. ^ Thiede, Dana (December 4, 2024). "Who was Brian Thompson? UnitedHealthcare CEO fatally shot in New York City". KARE. Retrieved December 4, 2024.
  23. ^ Walrath-Holdridge, Mary; Cann, Christopher (December 4, 2024). "Who was Brian Thompson? CEO of UnitedHealthcare fatally shot in Manhattan". USA Today. Retrieved December 4, 2024.
  24. ^ Sager, Monica (December 4, 2024). "Minnesota leaders react to UnitedHealthcare CEO shooting death". Newsweek. Retrieved December 4, 2024.
  25. ^ Chaffin, Joshua; Matthews, Anna Wilde (December 5, 2024). "Murder at Dawn: A Top Executive's Final Moments in Manhattan". The Wall Street Journal. Retrieved December 9, 2024. Thompson and Paulette had been living in separate homes less than a mile apart in suburban Maple Grove for several years, according to property records, voter registration data and neighbors.
  26. ^ McNulty, Chris (December 4, 2024). "Optum staff in Letterkenny briefed after CEO of sister company shot dead in New York". www.donegallive.ie. Retrieved December 6, 2024.
  27. ^ Halter, Nick (December 5, 2024). "Twin Cities shocked by killing of UHG's Brian Thompson". Axios. Retrieved December 8, 2024.
  28. ^ Katersky, ByAaron; Shapiro, Emily; Cohen, Miles (December 4, 2024). "UnitedHealthcare CEO Brian Thompson shot dead in Midtown Manhattan, masked gunman at large". ABC News. Retrieved December 5, 2024.
  29. ^ "What we know about NYC killing of healthcare executive". BBC News. December 7, 2024. Retrieved December 7, 2024.
  30. ^ "UnitedHealthcare CEO Brian Thompson killed: Who are the victim and suspect?". Al Jazeera. December 5, 2024. Retrieved December 6, 2024.
  31. ^ Helsel, Phil (December 4, 2024). "Minnesota Gov. Walz, Sen. Klobuchar call killing of CEO tragic and horrifying". NBC News. Retrieved December 5, 2024.
  32. ^ Premo, Cole (December 4, 2024). "Gov. Tim Walz, other Minnesota leaders respond after UnitedHealthcare CEO fatally shot in NYC". CBS News. Retrieved December 5, 2024.
  33. ^ "UnitedHealth Group chief complains about media coverage of Brian Thompson shooting". The Independent. December 7, 2024. Retrieved December 9, 2024.
  34. ^ Novak, Matt (December 4, 2024). "Bitter Americans React to UnitedHealthcare CEO's Murder: 'My Empathy Is Out of Network'". Gizmodo. Retrieved December 5, 2024.
  35. ^ Klee, Miles (December 4, 2024). "Social Media Has Little Sympathy for Murdered Health Insurance Exec". Rolling Stone. Retrieved December 5, 2024.
  36. ^ Oliver, David. "The UnitedHealthcare CEO was killed and many had little sympathy. Why?". USA TODAY. Retrieved December 5, 2024.
  37. ^ Hall, Richard (December 6, 2024). "Reactions to the killing of insurance CEO reveal a deep anger over US healthcare". The Independent. Retrieved December 6, 2024.
  38. ^ Diamond, Dan (December 6, 2024). "The UnitedHealthcare CEO was killed. Why did some people celebrate?". The Washington Post. Retrieved December 6, 2024.
  39. ^ Barnes, Oliver (December 6, 2024). "UnitedHealth shooting stokes mourning and glee on social media". Financial Times. Retrieved December 6, 2024.
  40. ^ Craig, Sean (December 5, 2024). "Moderators Delete Reddit Thread as Doctors Torch Dead UnitedHealthcare CEO". The Daily Beast. Retrieved December 5, 2024. One medical doctor, whose identity the Daily Beast confirmed, commented with sympathy for Thompson's family and said the killer should be charged with murder, but then wondered about the damage the CEO had done. "I cannot even guess how many person-years UHC has taken from patients and their families through denials," they wrote. "It has to be on the order of millions. His death won't make that better, but it's hard for me to sympathize when so many people have suffered because of his company." "What has bothered me the most is people that put «fiduciary responsibility» (eg profits) above human lives, none more so than this company as run by him," wrote another medical doctor, who also spoke to the Daily Beast to confirm their identity. "When other's human lives are deemed worthless, it is not surprising to have others view your life of no value as well.
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