Brian Thompson (businessman)

Brian Robert Thompson[1][2] (July 10, 1974 – December 4, 2024) was an American businessman. He was the chief executive officer (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
DiedDecember 4, 2024(2024-12-04) (aged 50)
New York City, U.S.
Cause of deathGunshot wounds
(c.f. his killing)
Alma materUniversity of Iowa (BBA)
OccupationBusinessman
TitleCEO of UnitedHealthcare
Term2021–2024
SpousePaulette Reveiz
Children2

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

En route to an annual investors meeting, Thompson was killed in December 2024 by an unknown assailant.

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 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 said Thompson kept "a low public profile"; however, he received attention 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 after they get sick.[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]

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.[6][17][18] Data concerning these allegations and notice of its report to the Securities and Exchange Commission was initially published in the Minnesota Star Tribune in February 2024.[19]

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.[20] They had two sons.[21][22] At the time of his death, Brian Thompson and his family were residents of Maple Grove, Minnesota.[23] He visited Ireland on several occasions as UnitedHealthcare's sister company Optum has operations in the country, and he was known to have enjoyed playing golf in Donegal, Ireland.[24] He "was the honorary co-chair of the 2026 Special Olympics USA Games" and was noted to be a "passionate advocate for the Special Olympics movement and a steadfast supporter of our mission to celebrate the abilities of athletes with intellectual disabilities".[25]

Death

On December 4, 2024, Thompson was in New York for an annual UnitedHealthcare investors meeting.[26] He left a Marriott hotel where he was staying, which was across the street from the New York Hilton Midtown, where the meeting was held. As he was walking along West 54th Street toward the Hilton Midtown at around 6:45 am local time, he was shot by a person dressed in a hooded jacket.[27] Thompson was taken to Mount Sinai West hospital in Manhattan, where, at 7:12 am, he was pronounced dead.[28]

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 6, 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. ^ "Databank – Insider Trading". Minneapolis Star-Tribune. February 26, 2024.
  20. ^ Snowbeck, Christopher (December 4, 2024). "UnitedHealthcare CEO Brian Thompson killed in 'brazen, targeted attack' in NYC; manhunt underway". Star Tribune. Retrieved December 4, 2024.
  21. ^ Thiede, Dana (December 4, 2024). "Who was Brian Thompson? UnitedHealthcare CEO fatally shot in New York City". KARE. Retrieved December 4, 2024.
  22. ^ 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.
  23. ^ Sager, Monica (December 4, 2024). "Minnesota leaders react to UnitedHealthcare CEO shooting death". Newsweek. Retrieved December 4, 2024.
  24. ^ 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.
  25. ^ Halter, Nick (December 5, 2024). "Twin Cities shocked by killing of UHG's Brian Thompson". Axios. Retrieved December 8, 2024.
  26. ^ 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.
  27. ^ "What we know about NYC killing of healthcare executive". BBC News. December 7, 2024. Retrieved December 7, 2024.
  28. ^ "UnitedHealthcare CEO Brian Thompson killed: Who are the victim and suspect?". Al Jazeera. December 5, 2024. Retrieved December 6, 2024.