Tim Gruber for STAT

Bob Herman covers health insurance, government programs, hospitals, physicians, and other providers — reporting on how money influences those businesses and shapes what we all pay for care. He is also the author of the Health Care Inc. newsletter. You can reach Bob on Signal at bobjherman.09.

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Hello, dear readers. This is the last Health Care Inc. of 2025, so I thought it was only fitting to look back and see which companies, characters, and storylines defined the year. What did I miss? I hope you all have a great holiday season, and I’ll see you in 2026.

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The UnitedHealth fallout

We entered 2025 with a grim storyline: UnitedHealthcare CEO Brian Thompson had just been murdered on a Manhattan sidewalk, and many Americans used the event as an opportunity to voice frustration with the “inherent unfairness” of the health care system. It was this generation’s version of the discontent seen earlier in movies like “John Q.” (2002) and “As Good As It Gets” (1997).

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