Absolutely. I used the number of administrative personal * administrative salaries because it's a quick mental visualization. I just reviewed United Healthcare

Absolutely. I used the number of administrative personal * administrative salaries because it's a quick mental visualization. I just reviewed United Healthcare's 2022 10k. In 2022, they had $324B in revenue, and paid $210B in medical expenses. Of the $114B remaining, $85.5B was various operating costs, $28.5B (25%) was corporate profit / operating income (before interest & taxes). Even if all 40,000 employees of UnitedHealth Group were making 200k (they're not), that'd only account for $8B of their $85.5B in non-medical costs. https://www.unitedhealthgroup.com/content/dam/UHG/PDF/invest https://www.unitedhealthgroup.com/content/dam/UHG/PDF/invest...