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Moderators delete Reddit thread as doctors torch dead UnitedHealthcare CEO
(www.thedailybeast.com)
this post was submitted on 05 Dec 2024
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But since there's no surefire way to determine what the most profitable course is, that's largely up to the CEO to justify his/her -- oh who am I kidding it's usually his -- actions and direction for the company.
There's also no law on the books about this "must be oriented to shareholder profits" crap, most investment in the market is idle investment from index funds, and many of the biggest public companies right now were not profitable for a long time.
It's an evil system. I get it, but that doesn't mean CEOs have no power.
Huh? Denying claims but maintaining subscriber numbers seems quite transparent.
It's not a law, it's in every company bylaw. They obligate executive staff to work towards certain goals.
You could instead claim to want to grow subscriber numbers by better service to either customers or the employers that often decide whether or not to use your company for insurance.
His was one path he pursued toward profitability and growth, but it isn't the only arguable path. The CEO determines what internal metrics are important as well as a strategy to try to hit them.
https://pluralistic.net/2024/09/18/falsifiability/
You can justify completely opposing company strategies on just about anything by appealing to "shareholder supremacy".
The board and shareholders determine the corporate goals. As the executive officer, the CEO enacts them.
That's the system we have, not the ideal.
Edit The entire insurance industry is predicated on the approach of denying coverage when possible. The agressiveness to which they do so reflects the needs of the business. If they are pean, you can be sure they will deny more.
Lol yeah the CEOs hands are completely tied. /s
In so much as they are "operating as expected" yes.
In so much as they are trapped in the job? Obviously not. I guarantee that if this dude enacted policy to the likes of folks here, minimal to zero denial of service, he'd be out in a week.
It's the system that is the root of the problem, and the politicians who build it.
This dude is a cog.
You can make completely opposite company-wide decisions as a CEO and justify them using shareholder supremacy. It's not a falsifiable position because you don't know what making the other decision would've done to your profitability. That's my point. They have agency in their decision making. Obviously, sure they're in service of profits, but there are numerous strategies to get profits. That's why CEO is a job.