Brian Thompson (businessman)

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

Brian Thompson
Born
Brian Robert Thompson

(1974-07-10)July 10, 1974
United States
DiedDecember 4, 2024(2024-12-04) (aged 50)
New York City, U.S.
Cause of deathGunshot wound
Alma materUniversity of Iowa (BBA)
OccupationBusinessman
TitleCEO, UnitedHealthcare
Term2021–2024
SpousePaulette Reveiz
Children2

Education

Thompson was born on July 10, 1974.[3] He attended South Hamilton High School in Jewell Junction, Iowa, graduating in 1993 as class valedictorian.[4][5] Thompson graduated from the University of Iowa in 1997, where he studied business administration and accounting.[5][6]

Career

From 1997 to 2004, Thompson worked at PricewaterhouseCoopers LLP as a manager in the transaction advisory services group of the audit practice.[7] Thompson joined UnitedHealth Group in 2004 and was named CEO of UnitedHealthcare government programs that included Medicare and retirement, and community and state divisions in 2021.[8] Under his leadership profits at UHC went from $12 billion in 2021 to $16 billion in 2023.[9]

Controversies

The Associated Press described Thompson as keeping "a low public profile". However, he had a few moments in the public spotlight, such as during an investor meeting in 2023 when he announced UnitedHealthcare was shifting to a "value-based care" model by paying doctors and other caregivers to keep patients healthy rather than focusing on treating them when they get sick.[10]

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.[11] 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.[12] The investigation revealed that in 2019, UHC's prior authorization denial rate was 8.7%. Thompson 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 at a rate double the industry average.[11]

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.[10]

A lawsuit was filed against Thompson, UnitedHealth chairman Stephen J. Hemsley and two other senior executives in May 2024 for alleged fraud and insider trading due to failing 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.[13][4][14]

Personal life

Thompson's father was Dennis Thompson, a grain elevator worker, and his mother was Pat (Hunter) Thompson. He had one brother, Mark.[3] Thompson was known to friends and colleagues as B.T.[15] Brian was married to Paulette Reveiz Thompson, a physical therapist and fellow University of Iowa graduate.[16] They had two sons.[17][18] They resided in Maple Grove, Minnesota.[19]

Assassination

Security camera footage of the killing

On December 4, 2024, at 6:45 a.m. EST, Thompson was in New York for an annual UnitedHealthcare investors meeting having arrived on Monday.[20] As he was walking along West 54th Street toward the New York Hilton Midtown hotel which was hosting the meeting, he was shot by a gunman dressed in a black hoodie and armed with a silenced 9mm pistol.[21] The gunman waited outside the building for several minutes, which led the New York City Police Department (NYPD) to believe it was a targeted attack, and shot Thompson several times from approximately 20 feet (6 m) away, striking him in the back and right calf.[22] Police initially said that the gunman fled the scene on an electric Citi Bike, but Lyft, Citi Bike's parent company, later said NYPD officials retracted that claim.[23] Thompson was taken to Mount Sinai West Hospital, where he was pronounced dead at 7:12 a.m. Both the NYPD and Mayor Eric Adams said the attack appeared to be a targeted hit and was not a random attack. The gunman has yet to be found.[24][21]

The words "delay",[25] "deny", "defend", and "depose" were found written on shell casings at the scene.[26] Police believe this may indicate a motive, as they are similar to "delay, deny, defend", a popular insurance industry phrase about not paying out claims.[25]

Thompson's wife said that he had received threats in the past, citing lack of coverage as a possible reason for the threats.[27] Thompson's killing has been described as an assassination.[28][failed verification] Following the killing, Thompson's house was reported to have been swatted.[29]

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 Gabriel, Trip (December 4, 2024). "Brian Thompson, Health Insurance Executive, Dies at 50". The New York Times. Retrieved December 4, 2024.
  4. ^ 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.
  5. ^ a b "University of Iowa alum and UnitedHealthcare CEO Brian Thompson fatally shot in Manhattan". KGAN. December 4, 2024. Retrieved December 4, 2024.
  6. ^
  7. ^ "Our leadership". UnitedHealthcare. Archived from the original on December 4, 2024. Retrieved December 4, 2024.
  8. ^ "Brian Thompson". UnitedHealth Group. Archived from the original on December 4, 2024. Retrieved December 4, 2024.
  9. ^ Rogelberg, Sasha. "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.
  10. ^ 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.
  11. ^ a b Rogelberg, Sasha. "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.
  12. ^ "Words on ammo in CEO shooting echo common phrase on insurer tactics: Delay, deny, defend". AP News. December 5, 2024. Retrieved December 5, 2024.
  13. ^ "UnitedHealth chair, execs sold $102M in stock before DOJ probe became public". Crain's New York Business. April 16, 2024. Retrieved December 5, 2024.
  14. ^ 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.
  15. ^ Wilde Mathews, Anne; Bauerlein, Valerie (December 4, 2024). "Slain Health-Insurance Executive Brought Small Town Geniality to Big Job". Wall Street Journal.
  16. ^ Snowbeck, Christopher (December 4, 2024). "UnitedHealthcare CEO Brian Thompson killed in 'brazen, targeted attack' in NYC; manhunt underway". Star Tribune. Retrieved December 4, 2024.
  17. ^ Thiede, Dana (December 4, 2024). "Who was Brian Thompson? UnitedHealthcare CEO fatally shot in New York City". KARE. Retrieved December 4, 2024.
  18. ^ 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.
  19. ^ Sager, Monica (December 4, 2024). "Minnesota leaders react to UnitedHealthcare CEO shooting death". Newsweek. Retrieved December 4, 2024.
  20. ^ News, A. B. C. "UnitedHealthcare CEO Brian Thompson shot dead in Midtown Manhattan, masked gunman at large". ABC News. Retrieved December 5, 2024. {{cite web}}: |last= has generic name (help)
  21. ^ a b Mascarenhas, Lauren; Chowdhury, Maureen; Yan, Holly (December 4, 2024). "UnitedHealthcare CEO fatally shot in New York City". CNN. Retrieved December 4, 2024.
  22. ^ Breen, Kerry (December 4, 2024). "Gunman who killed Brian Thompson, UnitedHealthcare CEO, is on the loose. What we know about the suspect". CBS News. Retrieved December 5, 2024.
  23. ^ Offenhartz, Jake; Matthews, Karen; Sisak, Michael (December 4, 2024). "Police hunt for UnitedHealthcare CEO's masked killer after 'brazen, targeted' attack on NYC street". AP News. Retrieved December 5, 2024.
  24. ^ *Marcius, Chelsia (December 4, 2024). "C.E.O. of UnitedHealthcare Is Fatally Shot in Midtown Manhattan". The New York Times. Retrieved December 4, 2024.
  25. ^ a b Miller, John; Musa, Amanda; Riess, Rebekah; Goldman, David; Gingras, Brynn (December 4, 2024). "Gunman at large after UnitedHealthcare CEO fatally shot in 'brazen targeted attack,' police say". CNN. Retrieved December 5, 2024.
  26. ^ Katersky, Aaron; 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.
  27. ^ Burke, Minyvonne; Li, David K.; Fonrouge, Gabrielle (December 4, 2024). "UnitedHealthcare CEO fatally shot outside NYC hotel in 'premeditated, preplanned targeted attack'". NBC News. Retrieved December 4, 2024.
  28. ^ Wilson, Michael; Marcius, Chelsia; Cramer, Maria; Rennison, Joe (December 5, 2024). "Manhunt Enters Second Day After Health Executive Is Gunned Down in Manhattan". The New York Times. Archived from the original on December 5, 2024. Retrieved December 5, 2024.
  29. ^ Walsh, Paul (December 5, 2024). "Fake bomb threat targets 2 Maple Grove homes owned by family of slain UHC executive Brian Thompson". www.startribune.com. Retrieved December 5, 2024.