About the Rest
About the Rest
Joe Rodriguez
UnitedHealthcare $5.5B Profit, Another State Opts Out, and Why MIPS Is Dead
1 hour 3 minutes Posted Aug 18, 2026 at 9:00 am.
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Show notes
UnitedHealthcare posted $5.5 billion in profit this quarter. Another state just opted out of physician supervision requirements. And CMS quietly gutted what's left of anesthesia's quality reporting program.
Joseph A. Rodriguez, Co-Founder and Chief Growth Officer at Guide Anesthesia, is joined by Randy Moore, Chief Anesthetist Officer and Executive Vice President for Strategy, and Gary Keeling, VP Business Development at Coronis Revenue Cycle Management, for a wide-ranging read on where anesthesia economics are actually headed. They don't agree on how much of this changes practice on the ground. That's the point.
Ohio becomes the 27th opt-out state, and the three break down why the practical impact rarely matches the headline. CMS's 2027 proposed rule drops the conversion factor again and dismantles MIPS reporting, Gary explains why almost nobody hits the threshold anymore. UnitedHealthcare's quarterly numbers spark a sharper conversation about what a 7% margin on $112 billion in revenue actually signals about the system underneath it, and about the difference between a flawed idea and a poorly executed one. A new rural healthcare bill promising higher CRNA and anesthesiologist reimbursement gets a clear-eyed "it won't work" from all three.
Plus: the pre-op smoking conversation nobody has ever actually had, and why "productivity, not cost" might be the real headline healthcare keeps missing.
TAKEAWAYS
Opt-out status changes almost nothing for practice models outside of all-CRNA sites already considering the switch. The headline outruns the operational impact by a wide margin.
MIPS in anesthesia has become a check-the-box exercise with no measurable link to patient outcomes. Most providers no longer even hit the reporting threshold.
Every CMS reimbursement cut gets absorbed the same way: pushed onto facility subsidies, which raises the cost of entry for new and smaller groups and accelerates consolidation.
A rural anesthesia reimbursement bump sounds like an access fix but doesn't change the math for anesthesiologists or hospitals. Small percentages of small numbers stay small.
Extreme profit sitting next to a broken system is not proof that free enterprise failed. It's proof that execution failed. Confusing the two is what pushes public opinion toward bad solutions.
Healthcare's financial strain reads as a cost problem when it's actually a productivity problem. Fix throughput and OR utilization, and a large share of the "cost crisis" narrative disappears.
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Thanks for my co-hosts:
Randy Moore (EVP & National Chief CRNA, NorthStar Anesthesia)
Gary Keeling (VP of Anesthesia Services, Coronis RCM)
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