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Name: Patrick Conway
Previous title: Chief executive officer, Optum Rx
New title: CEO, Optum
UnitedHealth has named Conway the new chief executive officer of Optum, the healthcare behemoth’s health services division.
Effective May 6, Conway will replace Heather Cianfrocco, who is being promoted to UnitedHealth’s executive vice president of governance, compliance and information security, the company announced Tuesday.
The executive changes are meant to help develop a leadership team “with a range of experiences across its diverse portfolio of businesses and in ongoing service to its mission and the people it serves,” UnitedHealth said in a statement.
Conway has been with UnitedHealth for five years, joining in 2020 as CEO of Optum’s care solutions business before being promoted to CEO of Optum Rx in 2023.
Prior to joining the Minnetonka, Minnesota-based company, Conway had a long career in both the public and private health payment sectors, including a stint at the CMS during the Obama administration.
Optum has been a consistent performer for UnitedHealth, even as the company reported fluctuating performance in its health insurance division stemming from rising medical costs over the past year. However, in the first quarter Optum’s results also came in below analysts’ expectations, despite being up 11% year over year to $3.9 billion.
Optum has also struggled with legislative and regulatory scrutiny of its major PBM business and the ramifications of a massive cyberattack last year.
Conway is also stepping up as Optum CEO during a time of public focus on UnitedHealth executives following the killing of UnitedHealthcare’s CEO Brian Thompson late last year.
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