The Fortune 500, released on June 5, features the top 25 corporations in the U.S. based on revenue. Among them, the top 5 payers are UnitedHealth Group, CVS Health, Cigna, Elevance Health, and Centene. These companies reported substantial revenues for the 2022 fiscal year, with growth ranging from 3.7% to 14.7%. They hold prominent positions on the list, highlighting their significant presence in the healthcare industry.
The 69th Fortune 500 was released on June 5, 2023. Five payers were included in the top 25 on the annual list of the largest corporations in the U.S. ranked by revenue for the 2022 fiscal year.
Here are the top 5 ranked payers with their revenue and percentage change to annual revenue:
| Rank | Payer | Revenue ($B) | Change to Revenue |
|---|---|---|---|
| 1 | UnitedHealth Group | 324.16 | 12.7% |
| 2 | CVS Health | 322.46 | 10.4% |
| 3 | Cigna | 180.51 | 3.7% |
| 4 | Elevance Health | 156.59 | 13% |
| 5 | Centene | 144.54 | 14.7% |
UnitedHealth Group is the largest payer on the list, with revenue of $324.16 billion in 2022. The company’s revenue increased by 12.7% from the previous year. UnitedHealth Group offers a variety of health insurance products, including employer-sponsored health insurance, Medicare, and Medicaid.
CVS Health is the second-largest payer on the list, with revenue of $322.46 billion in 2022. The company’s revenue increased by 10.4% from the previous year. CVS Health offers a variety of health care services, including pharmacy, retail health clinics, and Medicare Advantage plans.
Cigna is the third-largest payer on the list, with a revenue of $180.51 billion in 2022. The company’s revenue increased by 3.7% from the previous year. Cigna offers a variety of health insurance products, including employer-sponsored health insurance, Medicare, and Medicaid.
Elevance Health is the fourth-largest payer on the list, with revenue of $156.59 billion in 2022. The company’s revenue increased by 13% from the previous year. Elevance Health was formed in 2021 by the merger of Anthem and Cigna’s Medicare business.
Centene is the fifth-largest payer on the list, with revenue of $144.54 billion in 2022. The company’s revenue increased by 14.7% from the previous year. Centene is a managed care company that offers a variety of health insurance products, including Medicaid, Medicare, and employer-sponsored health insurance.
The growth of these payers is being driven by several factors, including the aging population, the rising cost of health care, and the increasing demand for value-based care.
