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UnitedHealth's Expansion Into ASCs: Redefining the Operating Room
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Key Takeaways
UnitedHealth is growing its ambulatory surgery centers through Optum for cost-efficient care.
ASCs lower patient bills and recovery times while reducing claims expenses for UnitedHealth.
Optum revenues grew 5.8% in the first half of 2025, with 5M patients expected in value-based care in 2025.
UnitedHealth Group Incorporated (UNH - Free Report) , through its Optum segment, has been actively expanding its network of ambulatory surgery centers (ASCs), which reflects a significant shift in the way surgery is evolving beyond the traditional hospital boundaries. In the past, surgeries were generally linked to big hospital systems, which often meant higher costs and slower processes.
ASC provides same-day surgical procedures that cover a wide range of specialties, from orthopedics to gastroenterology. By broadening its ASC presence, UNH is shifting care delivery into more efficient, cost-effective environments that also cater to changing patient preferences.
For UNH, this shift directly reduces claims expenses, while patients benefit from lower bills and quicker recovery times. These dual benefits of ASCs make them an attractive choice in a healthcare system that is more focused on delivering value-based care. Additionally, they make things more convenient with shorter waiting times and specialized care settings.
With this strategic move, the company is strengthening its Optum unit, which will likely boost revenues and increase the number of people served while bringing costs down. UNH expects the number of patients served by the fully accountable value-based care model to increase to 5 million in 2025. In the first half of 2025, the company reported 5.8% year-over-year growth in revenues in its Optum business.
If executed well, its ASC push can reinforce Optum’s position as a key player in value-based care in the future.
How Are Competitors Faring?
Some of UNH’s major competitors in the value-based care space are Elevance Health, Inc. (ELV - Free Report) and Humana Inc. (HUM - Free Report) .
Elevance Health’s Carelon segment’s operating revenues rose 36% year over year in the second quarter of 2025. Elevance Health’s Medicare membership increased 7% year over year in the same period.
Humana’s CenterWell segment’s revenues rose 11.9% year over year in the second quarter of 2025. As of June 30, 2025, the company has 3.5 million value-based care members. Humana expects adjusted income from operations of the segment to be in the range of $1.3 billion to $1.7 billion in 2025.
Shares of UNH have declined 40% in the year-to-date period compared with the industry’s fall of 31.7%.
Image Source: Zacks Investment Research
From a valuation standpoint, UnitedHealth trades at a forward price-to-earnings ratio of 17.42, above the industry average of 14.77. UNH carries a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for UnitedHealth’s 2025 earnings is pegged at $16.21 per share, implying a 41.4% drop from the year-ago period.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #5 (Strong Sell).
Image: Bigstock
UnitedHealth's Expansion Into ASCs: Redefining the Operating Room
Key Takeaways
UnitedHealth Group Incorporated (UNH - Free Report) , through its Optum segment, has been actively expanding its network of ambulatory surgery centers (ASCs), which reflects a significant shift in the way surgery is evolving beyond the traditional hospital boundaries. In the past, surgeries were generally linked to big hospital systems, which often meant higher costs and slower processes.
ASC provides same-day surgical procedures that cover a wide range of specialties, from orthopedics to gastroenterology. By broadening its ASC presence, UNH is shifting care delivery into more efficient, cost-effective environments that also cater to changing patient preferences.
For UNH, this shift directly reduces claims expenses, while patients benefit from lower bills and quicker recovery times. These dual benefits of ASCs make them an attractive choice in a healthcare system that is more focused on delivering value-based care. Additionally, they make things more convenient with shorter waiting times and specialized care settings.
With this strategic move, the company is strengthening its Optum unit, which will likely boost revenues and increase the number of people served while bringing costs down. UNH expects the number of patients served by the fully accountable value-based care model to increase to 5 million in 2025. In the first half of 2025, the company reported 5.8% year-over-year growth in revenues in its Optum business.
If executed well, its ASC push can reinforce Optum’s position as a key player in value-based care in the future.
How Are Competitors Faring?
Some of UNH’s major competitors in the value-based care space are Elevance Health, Inc. (ELV - Free Report) and Humana Inc. (HUM - Free Report) .
Elevance Health’s Carelon segment’s operating revenues rose 36% year over year in the second quarter of 2025. Elevance Health’s Medicare membership increased 7% year over year in the same period.
Humana’s CenterWell segment’s revenues rose 11.9% year over year in the second quarter of 2025. As of June 30, 2025, the company has 3.5 million value-based care members. Humana expects adjusted income from operations of the segment to be in the range of $1.3 billion to $1.7 billion in 2025.
UnitedHealth’s Price Performance, Valuation & Estimates
Shares of UNH have declined 40% in the year-to-date period compared with the industry’s fall of 31.7%.
Image Source: Zacks Investment Research
From a valuation standpoint, UnitedHealth trades at a forward price-to-earnings ratio of 17.42, above the industry average of 14.77. UNH carries a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for UnitedHealth’s 2025 earnings is pegged at $16.21 per share, implying a 41.4% drop from the year-ago period.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.