David S. Wichmann is the head of UnitedHealth Group, which is a position that he has been occupying since September of 2011. He has had considerable experience with said corporation even before his latest promotion. Here 10 things that you may or may not have known about David Wichmann:
1. David Means “Beloved”
Most people in the West should be familiar with the name David, not least because it still sees common use in a wide range of western countries. However, fewer people will be familiar with the fact that David means something along the lines “Beloved.” Moreover, it is interesting to note that while some Biblical names weren’t used in the Christian world until later on, David was one of the ones that started seeing use from some of the earliest centuries.
2. Wichmann Means “Combat Man”
Wichmann is Germanic in origin. For those who are curious, it is formed from two components, which translate to something along the lines of “Combat Man.” Wichmann is a family name of some note in Prussia, which was a historical region in what is now Poland, Lithuania, and Russia but tends to be best-known because of the powerful German state that encompassed it at one point in time.
3. He Is Involved with UnitedHealth Group
Currently, Wichmann is running UnitedHealth Group. For those who are unfamiliar with the name, said corporation specializes in what is called managed healthcare, which refers to a collection of practices intended to improve two purposes when it comes to for-profit healthcare. First, managed healthcare is supposed to reduce costs. Second, managed healthcare is supposed to provide better healthcare. Suffice to say that these two purposes can make managed healthcare rather challenging to say the least.
4. He Runs One of the Biggest Healthcare Companies in the World
UnitedHealth Group stands out because it is one of the biggest healthcare companies in the United States as well as the rest of the world. In fact, when measured by revenue rather than some other measurement, UnitedHealth Group claimed the first position in 2016 with a total revenue of $184 billion. As a result, this means that Wichmann possesses enormous influence in the field.
5. Graduated From Illinois State University
Wichmann studied at Illinois State University, which can be found in a town called Normal in said state. In particular, it is famous for being the first public university in the state. Furthermore, Illinois State University is interesting in that it produces a high number of teachers, so much so that it is one of the top ten institutions in the United States in this regard.
6. Responsible for the Strategic Direction of UnitedHealth Group
Currently, Wichmann oversees the strategic direction of UnitedHealth Group, meaning that he has to take a long-term perspective because he is responsible for its long-term health. This makes sense because he is the CEO of such a huge corporation, meaning that he would not have the time needed to focus on tactical matters.
7. Used to Be President of UnitedHealth Group
Before he was promoted to the position of CEO, Wichmann served as UnitedHealth Group’s President. In that position, he was responsible for overseeing the corporation’s operations in both the United States and other markets in other countries. In particular, Wichmann paid close attention to the performance of the corporation as a whole.
8. Served As CFO
Previously, Wichmann has served as the CFO, which stands for the Chief Financial Officer. For those who are curious, the CFO is responsible for making sure that the financial reports contain fair and accurate information about the corporation’s operations. This is critical because without fair and accurate information, neither internal nor external parties can make the informed decisions needed to ensure the best results.
9. Used to Be an Accountant
Perhaps unsurprisingly, Wichmann used to be an accountant. To be exact, he was a partner at Arthur Andersen, which was once one of the biggest accounting firms until it became involved in the Enron scandal. Technically, Arthur Andersen was free to continue operating afterwards. In practice, it collapsed because its reputation was ruined.
10. Member of the Board of Directors
Wichmann is a member of the Board of Directors for UnitedHealth Group. However, while some corporations choose to make their CEOs and their Chairpeople of the Board the same people, that isn’t the case for this particular corporation.