Insurers had been benefiting from a delay in non-urgent surgeries due to the COVID-19 pandemic and hospital staffing shortages, but UnitedHealth's comments show that the gains may be waning.
Meanwhile, stocks of medical device makers and hospital operators gained, as increased frequency of surgeries mean more revenues for them. UnitedHealth, at a Goldman Sachs healthcare conference on Tuesday, said it saw increased demand from patients in Medicare health plans for those aged 65 and above, particularly related to knees and hips.
"We're seeing that more seniors are just more comfortable accessing services for things that they might have pushed off a bit like knees and hips," Tim Noel, CEO of UnitedHealth's Medicare and retirement business, said late Tuesday.
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