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UnitedHealth 3Q profit slips as medical costs rise
San Francisco Chronicle

UnitedHealth Group Inc.’s third-quarter net income edged slightly lower as medical costs climbed and some health care use picked up, but the insurer’s revenue grew and it raised its 2011 earnings forecast.

The Minnetonka, Minn., managed care company’s medical claims paid rose 7 percent to $18.41 billion compared to last year’s quarter, mainly due to price increases. UnitedHealth also said Tuesday it saw a “modest increase” in utilization trends for doctor’s offices and outpatient care.