UnitedHealth (UNH) 15 Apr 202020 Q1 Earnings call transcript

Good morning, and welcome to UnitedHealth Group First Quarter 2020 Earnings Conference Call. [Operator Instructions] And as a reminder, today’s call is being recorded.

Here's some important introductory information. This call contains forward-looking statements under U.S. federal securities laws. to differ uncertainties or materially subject actual could present are to results from statements risk that and cause expectations. These historical experience can our reports of found Commission, the including description some statements the periodic Exchange and A included filings. cautionary in of Securities and in and we that uncertainties the the file current with risk be

the A on This call filings company's is non-GAAP available the to reports the page section will also Investors of reconciliation reference www.unitedhealthgroup.com. at GAAP of non-GAAP SEC earnings amounts. and amounts

presented release on of page April accessed and Form this the Information be call is Investors dated we in the in contained company's X-K XX, earnings may the morning XXXX, website. which issued this from our

Executive ahead. UnitedHealth Please I David Wichmann. Mr. Officer of will the the now turn go Group, conference over Chief to

our COVID-XX members, we experience we're the support in unfold These and days more ahead. all morning what's still you thank going get government response we've our structured all joining today. health and actions crisis their communities, top team a anticipate to patients, family. With likely are businesses customers, care early the as events directly in of of partners, you, on, and on and us. taking We'll and Good we the differently for the bit impact of and things COVID-XX, to global to that providers, members is learn for will the months mind

social care, of by scientists today. stronger. others system has respond ingenuity, well the extraordinary healthcare Group care efforts and as been gratitude such lines being serve I'll and of representatives, challenges the transaction was clinical and The enduring doctors, admiration Group in UnitedHealth They to day. my supporting are built, to chain seeing and the XXX,XXX made never as experts, start nurses, of and front restless nonclinical restless and the compassion workers data we them, capabilities, sacrifices personal on engineers, with this communities. consciously and every processors, commitment, are workers supply today and pharmacists, our people other engagement as the for team adaptable and customer expressing technology UnitedHealth health the human values mindset, culture meeting

safety, risk, gear protective services healthcare analytics right they the predict to patients, getting keep improving for making around the The related to those is for workforce COVID-XX the pandemic where driving and is need right helping and and most digitally, and and behavioral and to They're therapies their helping evaluate COVID-XX innovative deeply safety with services connected most symptoms, all the are enhancing connected accessed, vulnerable properly us. people They're availability, right sure it, chronic patients, identify, engaging health essential them product to available when and They're and medical at COVID-XX. with the testing ensuring personal to solutions and system our of triaging are directly medicines individuals available working health supply coordinated, workforce. safeguard develop testing, and while critical applying advanced and health doctors. in combat and

safety and concerned team, clinical all and our Like and of environment about hardened homes. patients in more than the our for their we heroic they and our For families their friends. health providing of those X,XXX for have safety caring first own those workforce across medications us, people caring are further facilities for services

COVID-XX protected be more team. for crisis. away more ensure UnitedHealth fully proud is center employed, front on day they remains at remain have they provided their Every to many and serve their care can been supported, need. member families Group so and to humbled weeks, engaged I those most from in the Yet, to fully or each engaging in team selflessly never

provide distribute me and a add announced and leave COVID-XX. the to Organization to vaccine morning absence to for Witty, taking World Let Andrew find to of Health deep a a for acknowledge will of gratitude be has note this leadership of who efforts pause the

for to leadership and guide done his Our to for grounded who Andrew which all UnitedHealth effectively so enterprise new all talents in this he sensitively is we so phenomenal to apply is serve Optum assignment aptly he who gratitude at suited. has Group work and and all for this willingness the his and and

proud effort to this serve this see to more of We success own the company couldn't he in both done. our way his to before one reports in our of forward Organization. work once and we to to call and to his own be and leading Health one today us our World this call is available important the with your duty questions on return with respond He is to look

COVID-XX mobilized intact From fully performance entire at enterprise and highest the keep outset our of levels. outbreak, we to the functioning

our and all services businesses commitments products, our As across are we of all markets. we and of today, stand supporting

have patients system high from They our of more home working of able quickly as performing service been have nearly XXX,XXX well and were our person, move team remain We nonclinical the for a long and than to all to rest well. had strong and the we at proportion clients, broadly. our health levels members, home work

of through millions United people privileged we serve the HealthCare. to are For

to to We have care. step broaden access taken possible every

We those cost so speed to patients. care, declined and diagnose, to can related transitions redirect patient additional enrollment treat, and prior eliminated sharings sponsored previously employer authorizations health systems who offerings, of have COVID-XX opportunities removed offered all

from coverage to helping We have payment help meets displaced which to and to to people are affordable developed their revised job timeframes transition smoothly needs. sustain coverage their we people

to billion whose system, care health clinical nearly payments moved have $X to week accelerating the in to providers impacted. provide we liquidity Last been operations

health protocols critical tracking as COVID-XX professionals supply-demand and simplifying identify partnering to will leverages frontline, been the workforce. the been to area system. healthcare This more testing and this of new academic in test have the We have new validate provide infectious ensure capability self-administered and developed, future. a we the every processes we surveillance statistical with to to pattern metropolitan equities innovation disease other and to disease in emerge which safe U.S. full This institutions major availability in rapidly enhanced technology develop resource frequently needs on and applying companies and across and is collection

help as Our while grant high-risk levels food have of members care, have surrounding reduce are And them in aid homes, afflicted, identified provided and geographies them been isolation initial address impacts to homelessness and global $XX support and over as to social million services physical those their with funding workforce we seniors of we in access behavioral communities the safe possible. keeping security. safety, rising and and to most in domestic their and health and advance investments included on

we traditional seen has our a postponed weeks, impacting which elective seen businesses. care procedure surgery recent both demand UnitedHealthcare in services. businesses these been system health broader delivery at-risk is lower reduction the at UnitedHealthcare delivery SCA benefits work for care, the OptumCare the Most have in Likewise, Optum centers. and Like have ambulatory the and

business, outlook driving business timeframes our being response. for membership for increasing have and seeing employers are which Benefits may in affect our We the individual Medicaid focus furlough most and ultimately to unemployment, opportunities had Many lines discussions levels while growth in partners of Group higher employees, new coverage’s. extended crisis on business as

earnings our about the outlook reasonable release; offsetting of and potentially times this press these established factors business on businesses, at share XXXX while factors assessing to Conference. across months be the most related Investor grow as our we talking clear multitude at The as our We well. diverse view uncertain in the financial These While will saw enterprise. it moment, maintaining you feels become clarify as come. operate continue posture our uniquely earnings in this to our we are outlook per our to baseline awkward effects will

they of even providing do, we As uncertainty the going consider swift the we to forward. environment commit as relief,

clear are addressed much all that still to situation, you today this proactively be we and reconciled and that which ensuring can fairly serve. imbalances, is timely there understand, arise we very to from committed those are any financial we While for with

made more operating than them to actions Optum than the way by the We underway agencies, our additional requirements UnitedHealthcare. on of come. physicians was digital test actions at for few than work to categories clinics These these long-term Let care me for more continuation possible in and swift Optum allowing of and policies. share commend is quickly has XX,XXX the sites than the COVID-XX across X,XXX regulatory now responses clinicians service rapid our We directly and and cared country. and OptumCare the more a state thank weeks to licensure these state lines. more of encourage shifted for to-date across XX,XXX in patients flexibility XXX specific

consumer health directions. in has accelerated engagement digital many Our

for clinical to pathways COVID-XX and monitoring new care. follow-up identify based high-risk For prioritize our example, applied remote we’ve individuals to services device

on newly we’ve and Our are checker based peer which with provides people to to COVID-XX the coping tools help proceed, services, symptom depression. content, developed on-demand for results. behavioral give to support on stress, healthcare digital And provided our and anxiety, clients All recommendations free everyone. access how

everyone medications, early home delivery providing needed their extended options. critical refills, it’s receives Because are authorizations increased we and

those pharmacies with for health receiving has clinic adherence abuse infusion in created the medication traditionally extended risk and of challenges. our for hospital hospital administered The a spread at those also hours mental ensure significant to settings. health life-sustaining health We services behavioral virus the or substance

our Optum our suites patients, Infusion these through providing homes infusion For through and ambulatory nurse infusion services their specialists. we’re in

and this innovating developing full Finally, the with hospitalizations to protocols global health UnitedHealthcare likely share patients emergency. system across screening current to partners to knowledge. care well health and care is the Optum with identify delivery, the address of organizations working as delivery to need at is are speed on frontlines collaborating who

to than easy opened administrative advantage has in coverage advantage enrollment of to health the experienced and benefits, took to special obtain eliminating X gaps no people treatment have and million more Tens care, simple of UnitedHealthcare of and testing requirements. for those offer consumers cost prescription taken For made consumers, period ensure one we refills COVID-XX and many waiving for our treatment. drug for it early needing of sharing access thousands

extensively care telehealth emotional to home the digital and prevention, UnitedHealthcare free access directly services with about get partner as by hours a and platforms, connect either a personalized delivery and quickly result, talk UnitedHealthcare our a which and to refill and through Medicare or expanding simple is especially doctor. for own careful as with access information can used to a a members nurse, patients’ and coverage care XX Medicaid attention way up-to-date care. to and paying support provide vulnerable were digital People prescriptions safe in to schedule day. ready, providers,

next and Brenner and One the are main Community State also two Dr. with them by address Kathleen of State with are working how helping who the a leaders, few health have experience. for authorities UnitedHealthcare establish a many every local Stillo, of UHC system. they state exclusively New challenge. operating of Optum the this We involves hospital just supporting needed the Jeffrey and day. federal, shortages capacity people system happening several critically are example and and Jersey, months public more are to field-based now to mobilized There respond to are These examples

John it I’ll to our Financial over Now, Chief Rex, turn Officer.

opportunity circumstances, you’ve look an given I’ll results our first morning. unique such, be Thank the had you, about Dave. brief this I financial the quarter quarter. And know as through to

while financial is what of situation, understand to said, know you speaking need the of feels this to your this somewhat we for As it be work. uncomfortable challenging Dave aspects

United COVID-XX the of in impact the timing limited. first was the quarter and outbreak its progression financial Given States,

only know, moving month. impacted trends you meaningfully later rates elective did meaningfully begin U.S. in in mid-March. care in until started the And be to As the incidence not

first going Insight, reported the earnings and Rx OptumHealth, in businesses level, with into At all the segment that quarter own and expectations line year. were UnitedHealthcare our the operating

we our Looking earnings maintaining outlook. XXXX per ahead, share are full-year

patterns a view on activity to duration intensity runs incidents business and as this and we out, economic, extent sure yet disrupted considerations that and of of the and ultimate key including number I’m play expect course. would the the experience, impact employment, its full levels to and care As you fully virus is levels, duration subject the

progression outlook, Investor maintained vary likely key we will than other our likely out play share patterns. metrics we anticipate expected quarterly will that historical per differently at time. from our earnings Beyond Conference And

half the elevated. of year, elective meaningfully anticipate the care demand example, care could ratio medical meaningfully suggests second could impact, with medical potentially, be For Offsetting this we quarter restrained. the today still ratio environment the so care would the second lowest be

care some consider, the half more hopefully the Among factors of people we will have of access comprehensive by the second year.

whom we with Individuals currently are among those the environment. restored. considerable concern be of care this have can some chronic And deferred for conditions in

intensive the system resulting in mistreatments more reopens. While aggravate care as we through status, means, health initially impact are mitigating needs other the can

serologic them quickly are of must work We are These and will and likely expansion care into testing you just coverage few of more. to and all factors the proactively we of help I’m seek these confident as the tests. probe and eager areas consider, such impact to a

We the regard and appreciate our evolving defer at estimates of mini given their and interdependencies for the providing need today, your and multi-variables on situation. views will that ranges play even understanding the to our situation, the thoughtful shape point

both size Our quarter debt-to-capital enable markets an corporate strategic about XX.X%. our capital we liquidity month balance our ending cash ratio. This during needs. a the operational debt intentionally to strong to we at We March. higher to financial and excess prudent considering saw ended and response excess higher financial quarter was and more volatile position, of normal than position When of our fully meet total us cash with ratio the what in a

become return to leverage we normal, position. markets and As our more cash will previous management

delivery liquidity needed care for more support Given quickly $X providers. providers, our to to nearly by important critical to provide actions healthcare billion the help financial of partners, with system. payments, relationship and stability moved provide health in implement to care systems we for types provided These policies individual enhanced accelerating are our

together. be and We result medical through impacted claims that move some be as expect flow transitory such days these this as a situation in will actions. Well, metrics we payable will of as cash

back With it that, to turn Dave. I’ll

you, I into during system to this the people, the seeing actions John. what we unprecedented are and are you and times. serve Thank gives insight some we taking hope communities health these

world. people to enterprise full our customers, and committed applying not of the of nation the our around but impacted of serve, millions hundreds We across and to the the capacity also patients, just are members,

others to their of to serve time capabilities We team crisis. apply and members in our protect will our skills, and aid continue broad and families, energy this

emerging for and mission is help this people the and to you proof the health live This of UnitedHealth resolve to achieve make the XXX,XXX moment mission, fully generation everyone. conscious to men to expect be better our on can of respond to the side ready to health in to and adapt demand in development of strategic us Group women work system lead Our of lives healthier to resources priorities COVID-XX, excel other way. and for challenge of to is prepared socially of system also system next health opportunities the a the

Let’s as person, open it questions One per get up to possible. so we as can many you. please. to Thank

go Taylor to Morgan. your JP line with open. Instructions] [Operator We’ll go Please is Gary first ahead,

OptumHealth’s to performance business? could risk-based how added for of of end you'd I'm is in XXXX in the quarter how OptumHealth Thank on we expect it good performed fee Thanks. back if terms And much. the different wondering morning. comment But just crisis? IBNR businesses. you versus get track financial more the service before business Hi, very today the if You've some how you could Ad XXXX? performance quarter. to from the

question Gary, you first – you clarify could part your can the please? of

hoping medical just claims payable IBNR you typically up I’m in us the number the that could Yes. give the queue? shows number within

Do you estimate? want dollar the

dollar The amount. Yes.

on follow-up quickly if with this here. can Rex our you that is for Gary, Brett cue particular color We up very you. And that any John have you we'll very, and metric. need So get also

year-over-year for you slightly then – as consistent payable also see well. think our last as with so, are quarter quarter end And can days that I and elevated

you the terms and continued business with also can end, development in gone its how year records and conservative something end quarter what's IBNR of generally year – of then take the from other So think posture it just I on And that. speaking, estimates.

as rely that also well. consistently not the but ability things Just always it's just on best to formed claim by and the applied fact lags, of then our other as

just right this our I some to So commentary is about I morning, on was rather there's responding OptumHealth on it our know that on your directly than might it but I suggest expectations. expectations. definitely question, it suggest

that about revenues this two-thirds for service risk-based fee chronic and its I that is What think are are business third of them business elective realized the in of deferrals has both disease our and management space. people, a ways work don't business,

adapted. that can, think team this might of want the expectations to proud has Wyatt how examples you I'd Decker performance of as So of the how business you want forward. a ask they've to And I few about about this I and and performed. just I'm provide team very think you with they've going served how if –

the doctors, for Optum from use question. do centers. front of and COVID on David would the adjectives, and advanced characterize to you collaboration stood I to Gary XX,XXX nurses Yes, response four over and this The Dave you others testing of spirit. up the you, had courage, a has Thank been lines team compassion, COVID-XX OptumHealth, of and response and as can the XXX over practitioners earlier heard and thank

ability vehicles, our month to end scaled XX,XXX dramatically telehealth this on will have over of patients have including and care providers telehealth platforms the for through We solutions. digitally, by and

cities up to stood with the We closely a XX solutions. urgent very with lines within COVID. States also in an have over New the to Jersey, host solution example sites effectively been we them of to including New Jersey and collaborating New York proud through care work And front just R&D to on first and the of the centers for drive testing XXX respond of on as care whole those and be innovation, continued state and

care digitally sophisticated and enabled delivering serving Thank to this, much is on national even other healthcare. emerge provider the anticipate Dave. we value-based come, to on patients So health you, of focused more a that more our of side

Dr. Wyatt was So Decker. that

enough Decker of flagship emergency having showed is for reminder, strongest the been now most in was middle know have which of well by about an had through say crisis with room he CEO He a Dr. just let's showing in honor think their today. you of if us this intensely to an and as a locations. they've Mayo, while. just obviously one right this the But through numbers deal to been of also with Scottsdale, clearly with us is physician, which crisis. he things or privilege calm here think crisis, in and the him is it's the And you I

question, Next please.

to go Wolfe with We'll ahead. go Justin Research. next Please Lake

morning. Good Thanks.

uncertainty to I furloughed? both early have to commercial on How love membership. the collected what trying commercial premium dig trends your We'd We're April risk, in in seeing unemployment. understand into been versus terms instance, in First you of wanted of much to month, hear collections furlough right? through impact you how versus a all think And mid the given the you're typical in have many collection? of here April, members just for

lot weeks; you And going you're then four in how of to et relative if COVID to there for know set price bid to Medicare the flu renewals coming year, for possibility back on out promotional be during XX priced bids a set to go I or six deferred questions that next of have lot cetera. return a is of season and but utilization next into potential to a the there, uncertainty have

any So, really well on can Thanks. be give you pricing color will helpful. us as

Dirk? Okay,

question. for Justin, the Yes. Thanks,

to bit employees continue basis can payment with So, our a That context. about have periods customers. give I'll of on on extend we find to numerical ensure represent premium our to month, X.X% their you need. working to to customers of the a a grace plans or In access offer care we're base. relief, typical right the little a daily solutions they premium

premiums kicking to we For extensions of of the to March really most impact increased premiums, prior in. the these And base. about X% premium our one COVID collected

premium the So far, amount our have for April base. X extensions to grown premium so of X% about of

on them for options So, plans work going continue the but to give payment we're our a elevated, little they customers to coverage with to need. that bit

question. your to second me switch Let

talked You pricing. little bit a about commercial

the claim in pricing process COVID-XX have procedures. been experience the XXXX. the of information from and our closely well other things as emerging who as We're developing including monitoring Of with like members diagnosed the course, abatement we're disease, the for of our

our to of commitment of We're well vaccine. the as continue going to testing costs, like to as pricing hopefully including things increased cost of forward-look significantly the costs our estimates

continue as The of Our member virus. should the note months after learn September. about our the to we are evolve view really of will XXXX costs majority that priced more

what to look the So, we'll will have like. XXXX get time a view on environment better

okay, needs what if more for Dirk, of on pricing as doing immediate one Yes. Medicare. we're And as it's the well the

want do it? Tim, to you take So,

question. Good morning, Justin. Thanks for the

know, CMS As XXXX of you were the only some bid process the inputs by week. published Advantage key to last Medicare

process and always, really this to stage. the we harden that in and position strive members XXXX, early the So, our serve. benefits never as we provide we for In at consistency

in long years stable-to-improving circumstances We that dynamics of have in challenging the some a benefits out are and an have track played record example. this HIT The accomplished over past.

too our So, extremely there. to to early and the always some important detail But a our time assumptions stability. Stability it's at members is our and this. is important talk especially goal like in of clear benefits about

Good, thank you.

please. question, Next

go Steven Please next go ahead. We'll Barclays. with Valiquette to

and is thanks. everyone question. for the morning, Great, staying Good taking safe. everyone, thanks Hope

And guess to curious XQ expectations. XXXX, follow-up out I the enrollment curious trends. shook around a relative how for just I'm commercial your further So own membership that

overall the yet wasn't the overall for claimed related that And may there those thinking know to in that late as the about XQ in the you I some March membership think you in numbers. well. company gain progresses? Medicaid members unemployment impact book Thanks. rise I in as recapture any unemployment year are impact or how you

that? Dirk, you want to take

Yes.

So, thanks for question. the

areas to expecting in membership first we gain self-funded both we to year. as in the expected for be the But through I January, both fully quarter. in and membership down insured paced As were said we that

tell say this value and I the the payroll group crisis, pricing COVID we'll early current for for will you continue what with can't Again, the to associated expect delivering employers down remain discipline both reduced our I in With as unique proposition and closed focused on will business be At and be. consumers. attrition. that customers we stage, year driving is our

to you experienced the in expect group in and commercial to ultimately products the offset noted, We see, do of increases losses our some we as business. Medicaid individual

Okay.

confirmation quick one Just question.

that's on commendable on much Just receiving providers, accelerated very billion care and $X appreciated the certainly that of end. payments to

Just accounting that recognition from Or impact of the an standpoint, in does perspective your from cost on any XQ? the does in P&L that around? XX% have a MLR timing, change reported

didn't this John any No, Rex Hi, here. have it impact on that.

Okay.

Just wanted to make sure.

It maybe could in QX. it. affect to flows think our cash the That about the way

Next Steven. Thank you, question please.

And Suisse. go next Rice is Please A.J. with Credit ahead.

I'll everyone assume about that I your respect sense And impact seeing safe. insurance the that mentioned that that, impact selling. that What face-to-face sales when big some RFPs. everybody. side, staying selling Hi, you the echo in is? also an the And sale businesses have considering those of bit large activity? makes people about maybe season how re-contracting they're you're little deals. the OptumRx slowdown OptumInsight would meetings group John, and more a just big comments can potentially in with on out to Can you flesh different in

[Indiscernible]. A.J., So, it's Dave.

yes, to reestablish expect. commercial folks where to were markets, isn't So, to at of let's work a employees come as as hit, if other the at as lot. that home, of And of here in kind expect or get COVID-XX a this that, relates would will was call safe as It everything least and activity of markets, side it, back online it slow would lot at get to dried down a time. you our we up, operations commercial trying their place, just to the as I least the period but for did there it

other on would impact want of commentary systems the a the might COVID-XX with the I little place on Where I their been bit availability to for to you like plans has Andrew think mean and if the about what others, appetite health well. health business have be for as and Witty, Andrew I'd talk

question. thanks A.J., very And the Yes. much Dave. Thanks for

by very pipeline interesting very said, Rx it's just say would situation. and obviously as Dave meetings for timings the crisis, for As I strong. opportunities to. Dave COVID disrupted of referred The OptumInsight,

significant innovation the seen the improve how announced focus to general improve now players interest try and to and in how just system start more John in seeing interest, a actually of the step-up on and We've really healthcare under actually of thinking in deal as particularly delivery, we're engagement last Our OptumInsight different I'd terms Muir for pipeline, say we system. through more engaged portfolio type interest the and pressure. year, more become that their economics comprehensive to

timing well, expressed would needs just of clients by say of appropriateness time. terms of is clients are good of led needs are at the We about OptumInsight that hearing feel in our working don't know. that. team in But we're So, some unpredictable. express, the offering, super offerings this the very customers at our I that our Robert being by and also And hard Musslewhite the terms innovating our in new to response

be wait before these go and bit timing say of for to I when for more things opportunities unpredictable overall, a closed. So feels certain can of meaningful some time we we OptumInsight, to get would continued like by a have little

Thank you, A.J.

value view Optum’s that other side strong my is So to proposition, demand we a once situation. we'll the for of see get this

Next question please.

next The go America. Kevin with Bank question Please of Fischbeck from is ahead.

whenever it into how long to and for is in I back have QX do half actually just Great, come get does a target, that's general comes take seasonality that normal, back back disruptions higher commentary and of framework system? the but any things the lower still this deferred you deferred about, I guys the and year. what in know in appreciate of actually moving how much Do about when volume thoughts MLR, then to like the you see back the thanks.

you are at question. stage, and be have it'd have to that uncertainties for get all call, the to really great this know, better the out difficult add? time there. view all Kevin, given second that to it's want a a we You would going anything John, very to project closely that quarter monitor think us something the It's of do we're by I probably we that. you

is the system it up quite actually I operating. look back some when seen we add situation It's this a other hurricane, the event. would just haven't times the prior when system than and long that this before seen quickly anything that, when opens demand a through where of back situations, at down as shuts either. different just we've But you've different everything's just before, so we it's is been up, event one in comes cessation demand, as where and it's a

So of up out us systems operating, systems when are haven't understand, open are certainly in terms with both when that reengage comfort step to trying and to elements yet. experienced there levels and are we

I has step of the out to events of we've when that past kind And so something past that. that all like seen the predictive occurred this and want predict wouldn't are at

what have are unknowns So, at timeframes do to pace, just now, it whether in the many lot what it'll online with comes are Kevin. so there back whether come fall, a the elective back right procedures off, wearing the

question I wish guys to provide you going we fully answer guidance forward. So your able more hope and we could to more be

please. question Next

Research. next go Josh we'll go to Raskin with ahead. And Please Nephron

morning. Good Thanks.

just anything this simply is view guidance to overall? was one saying to that is the first be you two-thirds of at huge physician of dollars change payments Or then the the about this COVID to talking you but question you're physicians obviously total of so help United is to, want of OptumCare despite to to providers, talked did when parts two-thirds about or moving, a capitated, the going from being And just providers? HealthCare you on OptumCare real is offsetting? we're perspective groups, the dollars a two-thirds impacts metrics moving from and Just the unchanged liquidity my wait that's just point the the a clarification, the the that just

cost Its entire the business, Josh.

John of its revenues, with are Josh, Rex, capitated two-thirds OptumHealth And premium revenues. revenues our

Okay.

an deferrals capitated as of utilization So is services, lower obviously against example. there's base their their

what to John said is the going about about articulated or we are have to economics committed it about committed not We're possible. COVID-XX across be guidance swiftly that what whole stage, that as at imbalances system. costs. So forward, go any see based one relates that's suggest but how it, lot making guidance are the of in which this drives to maintaining we're the But well, we that today upon performance to think today that. as those more extent that, the to offsetting commitments to rectifying of thoughtful that Obviously And really we is we terms deferrals a elective I today. as the be we're

data number communication. direct and tools use kind that have we the surveillance clearly Josh, of the both and of a we

inform patients, and We and have are our to continue going members, clinical workers, response these forward all to our planning. our

Thank you, Josh.

Next question please.

And we'll Giacobbe with Citi. Ralph go to Please ahead. go next

Thanks. Good morning.

what commentary financial understand of there? reconciled. Does said the of around just beyond potentially and Thanks. that this sort to are imbalances more ensuring clarify wanted that triggered Just or mean understand to the a you back year terms in bit just hoping any rebating context MLR

be. Yes, it could

delivery is issues there we put liquidity to at and a things insecurity There dollars our take own beginning, and the with our evolving, to of with the clearly and sure health protected. of broadly to including country, a amount workforce, to capacity There so system health challenges was not shortage stays $X broadly the number resolved remained and funding workforce across of making that but so committed consideration, fair put a that. we care health into work. only were was billion homelessness we PPE there's So

on also did the capacities So PPE well we use testing globe. PPE, broadly safe innovative health workforce new we’re the and across keep as generating focused that source not only as resolve would but

all And, there's they possibility financial occur obviously of people having imbalances examples so as as to think those, in characterize furlough revenues throughout about the imbalances need want those I'll So of and employers well. to that no we what employees, good have keep today, as coverage. they and occurred are are

relief extent, seeing normal very MLR able doing. to or and it to not It premium is but situations, those what in the remains we services provide well situations ourselves in to rebate to could committed position find not COVID-XX we we're under be to that some but something deeply we very do be can those it where additional whether clients. so are deferrals there well outweigh be that of And only may costs, circumstances, would a in

Next question please.

question Fidel ahead. next Scott Stephens. with The is from Please go

ACA about and given My you is your I to And thought that now, there's that the individual period assume and of for need of the question going when uncertainty lot your appetite you in about had Hi, commercial footprint just now. timing impacts the to time the guys how probably right business process exited. guess now thinking just for thinking potential persist of submit even is right And that's morning markets, in I there assume current those would if group that exchange right probably on that? thinking are thanks. that, about Good a impacts decision just start interested just everyone. your we economic a and interested you reentering filings, to the enrollment, have though

reactions make you markets. this into what count about the to thought Group all. through comment? and considerable to to no making you crisis it up this But going can we Well, Dirk, terms strategic is, will of on staff leading in want it have decisions would situation given

Dave. Thanks to the in prior more we to exchanges sure. COVID-XX began Yes, participating crisis. at look Yes,

our the and in still process like Medicaid. going of our market-by-market, ability efficiency we're extend compete through the to we of where so evaluating states relative would network, And to

quarter call. individual we’ll that the exchange second more intentions hardened have view me earnings on asked our You a of

Okay.

Next question please.

We'll with Ricky Stanley. go go to ahead. Please Morgan next Goldwasser

morning. Good Hi. Yes.

question follow-up real one and question. So, a

fall But back or catch second it's about XQ procedures, how spill quarter? to kind obviously So we're the to is the, end into to predict catch very versus when are going capacity to see capacity of the by first this of going if up system of might is much to think a when up you there, just come coming what phenomenon, things that to of difficult all, procedures year on back. over elective understood now

XQ on follow-up provided question of some in the midyear guidance assume membership the the pricing, level was your And, renewals.

So the puts any off color about and pricing from midyear in takes the light all situation? of

to second Dirk. Yes, the give I'll question

online revenues in which on about then elective think the about exactly evolution possibility this I States, come broadly come The of first, of But where of think and given then the deferrals disease, and the evolution will them that we for our are across the circumstances, capacities the think United overall just of just came you coming what to it think how our about or online is the don't know fast not. company. it XX% are, back when and the tail

things just the number to be taken just future around uncertain questions into the the things, to like you specific asked. other they of to And timing need get that our and of vaccine an create that consideration to respond ability

the for I apologize details. that but to you difficult to kinds those very we it's us just can't, So of responses give

you mid-years? to talk Dirk, about want

our the we begin like months, said, start I well, Yes, be to off for months the to member pricing after with, majority September. our with to going are XXXX of were member for of majority – priced

So bit we'll better have a view. little

Now, the out are of the sort renewals going midyear many of door.

in. we're So scenario that's of sort the

health treatment, which that get our we telehealth well. been general centers they pharmacy our are who relates federally care ensuring and that and attended high as those to as delivery the ensure solutions qualified have the in compliant OptumRx let's we've pharmacies in care to these which practices, evolving who that to way option members And make provide deferred it sure needs treatment are capacities, on in to health that working their patients the we're chronic and through they also have available and have to ways with say, way which centers the are community mental

underneath, would that ways. and respond that of operations to to ready that when demands is are we're the what's get then COVID-XX, only we all opening make capacities So in there's the I here And there. side evolutions be say that standing our might sure up going to the other are happened new on different other to thing

be immediately number will respond to surgical do for of well. ambulatory our up demands exist so and to replacements that So care pent the the they available things centers joint that other will the demands,

but So the also the get this to to immediate things demands, through learned making that ready. And what we're only and Thank crisis. business side, other ready we're when we ready to to to part you. to respond respond that we've doing of is, evolve sure the strategies adjust not our we're

please. question Next

And with go next ahead. Charles please is Rhyee Cowen,

thanks. Yes, for the taking Thanks question.

this yesterday there a noted third coming year, to know a the down its thoughts to that said some put calling have numbers things situation about I you’re fairly other seems elective about the to be quarter what’s This behind hard know And really is sort procedures been really XX%, they’re think how looking back, in back of give was but or procedure on because assumptions? of on of that, this than presentation second in perhaps? And & your like disasters, expect kind hasn’t elected XX%. in how in might hesitant better of conservative Johnson particularly like of you can on around or you Johnson slide about the of bounce is not guys but Is So quarter, the the gone more baseline rebound you crisis around how earnings John, – be you of Maybe proxy XQ volumes rebound XX%, the at down to terms away. back? natural the on thoughts sort like financial us of also Thanks. above XX% back kind rebound I with looking your in noting. your quickly obviously, then situations; may coming demand of a kind we something procedures at then, half

Charles. thanks, Hey, Sure.

put me there. won’t a So and try anyone of let I they to else’s, But you give of a comments. of few company’s on then any other opine just out kind thoughts, couple our comments

business co-dependencies terms one the all situation of the think very in mind us, you’re important a interplays in like I and this describing. are things extremely keep different to across things in of the the

impact make also of differently virus levels, Intensity right deferral about, durations the to of this. when intensity so, factors we’re the enterprise a a some calls are we try going in lot like diverse in not there’s know talk don’t we mind duration elective now procedures. actually to And the of that Keep to of there those. that and and move

range options factors multi-variable are we as considering you at the factors that that interplay. of our we go the consider in there that So, there when look outlook across

even yes, think we play would how And consider about of how think out. kind Dave that, to examples, perspective you certainly, informs aren’t – mention our other that these of way measures that as that a continued the that we we those as all mentioned, that did have are still about instructive just we did so, April. necessarily of think And But some use kind to from things trying trying financial different volumes crisis and measure, activity seen the quite in reasons starting like a And March this in into those also are and and – and very, this. I saw we in procedural is of mentioned before late we activity seen for declines duration cessation very in different also cessation the haven’t we different. because those

measure I as for that one kind us. So, as I’d don’t know that go even to instructive – the of

you, John. Thank Great.

Next question please.

with ahead. Windley Jefferies. And next we’ll Dave go go to Please

this around Thank that taking how two specific is the I your deployment. impacting thought thoughts, opportunities? corporate crisis consolidation with comment crisis So, wondered, conservation of at like on opposing morning. Hi, and on around some I might the perhaps wondered of capital you also providers the but being your wondering comment level, on questions. strain if my might a say presenting larger on health comments maybe systems being responding for good you question’s deployment. capital around one liquidity you then some the if capable my more thinking to

John.

Sure.

our strategies think I deployment So, long-term remain. capital

March, markets we about in responded, order allocation of M&A some the position in dividend opportunities, able and of growth partners into the capital play delivery you to cash reliable part for being what we of like we being how we as absolutely fortify clearly, health in also. in organic is the think and fortunate care And that, in financial long-term our our share kind things strategy in position community. saw in repurchase given increasing we about saw, businesses, terms that to we respond and new into to think by as are deployment the Our capital role opportunities, broad of instability and

we very and things that kind about allocation of And so, of that think about be they we’ll part how they’re be respectful near sure of may understand that term, And financial kind different the important, you to fluidly in consider capital we’re behaving, markets activities. respectful and functioning of how of as is and impact and that elements. think markets, timing that as being the we are functioning those those continue we can

provide that to because of We’re going for security serve be the delivery enable the respectful and the to health of role reliable care health be community our health obligations super in to the partners – broadly. be ready, we important for and and we system that play people

Thank you.

an capital And consistently of we Thank and you. one think maintained would the with going today have strengths My to structure the that integrity. it’s the organization have comments It’s be high capital the the backing is that structure, been broadly. of into been with company. financial capitalized situation maintained very exceptionally well I

please. question Next

Next question ahead. with go Bernstein. is Wilkes Please Lance from

system. a the it I of Yes, job I contributing that good appreciate the are are to you number was thought morning. guys you things outlining doing. all that great

couple to it’s related. one just more of really ask And questions, wanted OptumHealth of Just a variant question. OptumCare same the

delivery you’re care within now, right you up and services? virtual how enablement For could describe the telehealth standing

to period back with as up transition as like that quickly back? service, scale you you you as before how physician back post-COVID, of and to come then to that the a economy the businesses? – back into try Meaning, doing perhaps things you And some thinking you’re guys patients, be masks ASC get business are the will sense kind to get can ramping of start how to ramping is have other temperatures, in of the about for you’re ramp you going

appreciate your and timeframe. comments during Great. performance Decker? Thank Dr. you, this Wyatt Lance company’s the about

nation’s extensively your which our side, leveraging including platform. question. the for and that’s we on internal capabilities, Yes. Lance, digital health Thank telepsychiatry, the largest telepsychiatry both have we’re And telemedicine you,

that partners the created vendors and us we personal healthcare is very stand working national add with and intimate We’re partners, telemedicine nature also and over believe I dozen would we’re on up all also have a that quickly. to half equal alive not of and collaborators who well. solutions keeping assisting focused are and

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to continue leverage we’ll this. So,

accelerating solutions. AI-enabled caring home really and of people symptom examples for digital we’re of also We’re as their the health checkers dramatically leveraging other Things, Internet in how our

other your of and do And we evolving. Obviously, that’s to side second is that your question adapt? this then around how the of something part

procedures. have is We safe course, federal and and working local, authorities it will, and with and recommendations on and when elective scheduled resume work of been care state hand-in-glove to

We differentiator. our a really are as mentioned, will so they quickly, health great which we Dave workforce, that taking resume to expect of be activities care care are also, able to

the And the diversified then and one is is. say I’d things is it resilient thing final care that you what remarkable health look OptumHealth, when a at of business

XX So, states. we’re in

we to the ambulatory across United we this primary surgical out Thank States, we’re communities keep and pandemic environment. feel busy, changing COVID is well positioned we the differently have really serve, have and our care have centers, able because workforce while care, the been contributing specialty you. We playing we care adapt epidemic to they to have and

is setting. all, created capability, was, self-administration swabbing the of of leveraging a we that And in testing did a part so allows one clinical things – it for as we

but new I was it on know applied each able to alongside health as services, them. were they is available apply is part every fully procedures that safe which their a that ensure also, workforce one testing And possible, were of – and that to of of to for developed protocols, ensure of top workforce. and also that mind for the we the technologies as test We set that

going also setting that course a likely only not its business find find that technology, well, those that as forward. So into was protocols, essential but developed, other could way into normal its settings process a clinical of business as way

frankly industry. but see those across OptumCare concepts the we So, of across types applying could

one for question, time please. more have We

Frank Please go And Capital next with we’ll ahead. go Morgan Markets. RBC to

you. Thank

will physicians the of model? Thanks. You’ve with do And success taking risk engaging in had lot just physicians a the to of pandemic I’m curious interest impact participating from risk. think in the long-term you how affect this

relates have align it standing. least important performed remind at have And would think number certain financial fine. it I with so just UnitedHealth probably it as will how them Optum is partners of one, to strong characterize those entities. about as far, being kinds and that Obviously, of I in a this they Group, OptumCare to a particular,

is do seek based choose business dimensions. the of done of has a a they strength in And a hope with a upon of different partners their way I with job building great or of I alignment So, them partners strength. towards, Wyatt think in that multi-dimensional multiple sense they what greater great number

greater UnitedHealth see we’ll alignment hopefully to So, Group.

you Thank your you today. questions and your for for thank your questions and all time

you technologies, breadth team our of resources, as full apply safe health to every our time global As health compassion our and broader through system the our each shared innovations, be and the going for one we’ve you, with continue Please this together. we’re patients, of today. to your provider support and see our crisis and members, thank partners, we to way you

this And your participation. will program. today’s for Thanks conclude

You disconnect, day. have and great now may a