UnitedHealth (UNH) 14 Oct 212021 Q3 Earnings call transcript

Please standby, we're about to begin. Good morning, everyone, and welcome to the UnitedHealth Group Third Quarter 2021 Earnings Conference Call. A question-and-answer session will follow UnitedHealth Group's prepared remarks.

As a reminder, this call is being recorded.

Here are some important introductory information. statements forward-looking contains call under U.S. This laws. securities federal uncertainties These actual cause or expectations. and from statements subject to present are that results experience could historical risks to materially differ be of with filed Securities filings. in and the and A our that including the the Commission, statements of the reports some uncertainties description can cautionary found Exchange current in we periodic risks included and reference This amounts. also non-GAAP call will amounts company's is reports reconciliation Relations available the to of A earnings the the financial unitedhealthgroup.com. section at GAAP of Investor non-GAAP page and on presented this release page Relations October accessed and Form Information on in be call the Investor dated we in of is earnings the X-K XX, contained may the morning XXXX, company's which issued website. this from our Chief UnitedHealth Dirk I will now turn the conference Officer and McMahon. Group, Operating over President to for the Please go sir. ahead,

thank kidney All And I'm this with not our back but straightforward quite night joining Andrew, him few expect us listening procedure had urgent confident in for well us colleague, and fully just you now. days. an stone. today. a last CEO went a morning. very Unfortunately, and is we morning he's he since Good for

our Andrew I and I for opportunities see today here John results hope the boss. and third-quarter as and this to with team looking Rex expanding morning we your you're we subbing be So questions. We're us, will doing ahead. have usual, management with well, help to discuss

UnitedHealthcare, Optum to As XXXX have a share. a to result XXXX and our we of per XXXX of both at earnings range progress increased adjusted outlook the

the Andrew foundational growth enterprise. has our We discussed continue before to things to are prioritize of X which

of and Optum all. within potential for UnitedHealthcare collaborative the the unlocking benefit First,

run and the data in patient to aid further care system and our to experience Second, platform developing science help better. technology

you. capabilities, Third, and briefly for a consumer strengthening experience, couple of items values. highlight our I'll

patients new we the XX% for be for high members Medicare a plans advantage/quality from XXXX You XXXX. individual highlight Medicare XXXX, grown up over the the XX% year our four-star encouraged enforced which in behalf seen be XXX,XXX and employer likely plans in Care has of with our Company. important were showing serve quarter, second by now better XX% with Optum will many of better and have we up on for ratings of by our payers, in for business, Advantage ongoing people rated X% our will or revenue this CMS UnitedHealthcare or strength A year-over-year. the

continue heading the product encouraged offering We Savers see into as momentum level-funded innovations, are to our market our and and 'XX. in in competitiveness our active All interest such by

elevated period of offerings momentum OptumHealth We Medicare accountable by and connectivity million fitness people the also consumer portfolio. incorporating from for in open Entering year be to record 'XX expect build well. another physician-led, more have key enrollment expansion than arrangements, X.X we partners. our continues served this under advantage, of industry-leading fully as to part

care clinical home-based efforts outcomes home, primary social central broad and care near people initiatives and for UnitedHealthcare include Our with behavioral, needs. at which delivers longer-term health to are These at medical, the encounters. and our about and Optum improving high-quality the hospital convenience served X% of community Senior setting home rate a hospitalizations. after and by higher in of admissions a services experienced home of recovery Optum rate lower offers physician XX% and supports

other clinicians. patients digital physicians their for care we distinctively enabling means. including optimal and homes, expand addition is sites in continued their to own Optum people to via of for behavioral carrying in primary In care, using capabilities care virtual

care. a primary, virtual UnitedHealthcare seamless a of to virtual between near urgent is engaging traditional using capabilities in visit a offering with real-time introduce example, new bring easily can a physician health a professional for and virtual patient in digital-first behavioral experience opt-ins suite For a products specialty, and consultation.

beyond, that and experience on affordable and integrate for XXXX quality these opportunities and patients and multiple care Simplify care. during providers, to the deliver connect is expect, setting. to channels further build in of and We optimal the

pharmacies, functions Let areas I Oklahoma, you give me we assessment on mentioned reduce system we physician processes, XX little simplify to their level. how focus innovative care. the our hospitals Health, doing operational new such more will care, OptumRx efforts to XX% using the improve clinical health of the Optum serves million essential the experiences. Pilgrim distribution and and digital specialty people Wisconsin, of will organizations, and that provide Within health core enhance processing integrated appropriately cost XXX such outset. at deliver post-acute improved and than New partnership XX to auto in themes our to a with contributes skilled in respectively, on deliver more help founding continues system approach in XX of emergency and now reached Last XX% X better system, increased driving health of through a having across and as through a rate members. pharmacies visits lower lower community and as by performance rates to XX,XXX more clinics, high-touch to medication than outcomes helping England administrative Illinois. leading drive and technology XXX in deliver were multi-year their than revenue a deeper value the Harvard on now substantial and an attention total and with its new coordination, addiction, UnitedHealthcare These which other adjudication Healthcare, management, intelligent X.XX its by have strengthen XXX,XXX a room at people and health, patients' which go similar businesses, is OptumInsight outcomes mental and brings behavioral a Health care few employees, that Plan. scale partners health offerings XX% pharmacy and conditions states. government a to adherence burdens, affordability we the and The cycle better health Tufts agreement health, for partners nearly to through all services efficiency by and hospitalizations OptumRx SSM dispensaries health OptumInsight benefit facilities, its real OptumRx to year modernization, last their and serve week, channels. improve a care. care more Missouri, to missions patient and over and with plan people serve impact whose system care multi-year continues work

for affordability, We provider the and as and data we have advanced product many the to value enterprise health people initiatives we analytics technology underway in such serve greater employ experience, drive the system. even development in across

quick call Change with on Healthcare. our pending a word the Before turning over combination to John,

XXXX. satisfy We based to far, should continue work so now requests first diligently believe, the the transaction to and part experience of regulatory on in close our

guidance we consumer convenience, simplifying serving obstruction because plans fundamentally Change about accurately. are process bringing access already on quickly and Financial to more care ensuring for and Healthcare's in and Optum believe values to and care those distinct, We And mission for system. are make benefits health better Rex. delivering both in bring as a We evidence-based can in while finances have I'll exceptional and capabilities Closing care simpler, managing more make get rapidly the successfully more benefits and and it consumers state impact unnecessary the governments, working more value These everyone team removing will with highly John we outcomes highly simplicity providers, market. include to to substantial Officer, the and complementary care healthcare together improve they gaps change exceptional and Chief greater that, serve over are and focused cost-effective, and administrative transparent. by lower turn to patients. the complexity serve. reducing waste our companies competitive combination health team. real-time energized this the system paid to by work costs, providers health positive With with our aligned will A healthcare clinicians helping

Thank strong Optum you, This XX% In the XXX XX% quarter, over of and care year. operating we reported Dirk. enterprise comprised third respectively. show growth our momentum. continues XX primarily led Growth third by XX billion the and to last was revenues growth quarter platform and year-to-date earnings and businesses. morning, of OptumHealth, of This

stage our the the complementary years ahead. the of growth Our setting strengths performance diverse in reflects and business, for

full-year COVID throughout updated expectations with we year. have consistent outlook 'XX the discussed the impacts includes Our unfavorable

expectations third quarter, the During had nearly saw of testing the higher year like costs we direct a elective ago, while we again above case much ran the previous COVID the pandemic. care and impacts cycles in rates, offsetting care

quarter, COVID then meaningfully hospitalizations, XX,XXX second peaking the August the in above XX,XXX were and at month quarter, nearly September. of with This declining there approximately

the as relationships backlog software the levels offerings. scripts grew value-based XX%. specific business number per and XX% and the consumer increasing and of impact revenue expansion The at performance. the increased quarter, OptumHealth's and our XX%, Revenue well grew community year-over-year. growing respectively, in-home by and of platform, third-quarter earnings the revenue Care. reflects in OptumInsight This needs can grew Looking within as we serve. Optum acuity earnings grew health of XX% as sale revenue increased our overall XX%, for OptumRx and XX. And and activity early largely XX.X We X%. billion. customers. success development is levels completed selling seeing OptumRx increasing, strong to customer both care particularly for XX XX% and and with by year-over-year activity season and retention business revenue see sourcing for the X% and earnings provider analytics

employer-sponsored member we affordable increasing benefits. our million the in commercial add managed employment The last the a we people Medicare Inclusive of served is X numbers, underlying UnitedHealthcare, over but has achieving of this a grew are particularly members third to more by Medicaid which growth advantage growth contributor, Increased special particularly grown year. Medicare membership consumer-centric Turning to serve offerings. we advantage offerings, through total expect in showed over number broad in encouraged than by year. needs are quarter dual XXX,XXX of plans members. XXX,XXX our

to this regions serve North the new Indiana, to began we redetermination remained begin people in state-based activities Carolina, we popped, and honored expansion and people in As Kentucky, Missouri as as month. were Medicaid serving such

remain net third-quarter or quarter debt-to-capital ratio positions with XX%. at X.X from the capital billion a income. we And times cash with flows strong of ended operations and liquidity Our X.X

to As our earlier, given the a this updated XXXX of share. $XX.XX to outlook morning, noted of performance, per $XX.XX we business range earnings strength adjusted our

the the turns of your attention next to with close quarter, year. Now, understandably third

observations will As early custom, offer few is a we here. our

conversation we and this which of person majority York. November will XX Conference, the Investor in hope in New our for be reserving held While

with momentum heading businesses operating both year. into are and next Our strong growing well

the impacts analyst difficult an predict, given outlook dramatic last trends, pandemic-related impact the respectful management COVID as months consensus offer the calibrate elements has the reasonably together share in our all, than variation the the a current range. fact the consensus this Still, that being While suggests that 'XX. beginning initial we adjusted of precedent. current to we remain as Envisioning without all of outlook. earnings as would Taking to prudent of situation expect XX to current demonstrated see 'XX per should at end unfavorable distance, experienced a towards we outlook lower upper is

of many for XX% collaborative going at With earnings-per-share please. other Operator, health questions. untapped similar view We our years of long-term to and initially our Investor open into The outlook. for With the of the fully being for the ahead more let's potential offered One believe expectations to and and the both of to individuals Improved that, elements people. the the still to our growth growth between consumer and supportive 'XX. 'XX and care us system. UnitedHealthcare so beyond range advanced remained for up power Conference. our detail caller, in of forward applied XX% our and to There's years on experience, look lead that many passion and benefit service. These to technology opportunities Optum performance

ask The sir. [Operator At have time, question. comment, floor to you a you open X you, for We limit question now yourselves that this Thank if or questions. is Instructions].

ask you multiple respond queue be questions to the this If so can answering question everyone we'll first only the morning. we in

with ahead Please BMO our ahead. Dosch caller, Capital go first Markets. So go take Matt and we'll

just and are could approaching about to fully right. talk on for I others insured Squeaky hoping group the quarter. clean extent XXXX. visibility All how was you commercial, Thank rate your increases you. united maybe

don't Brian Go we Why time take ahead. let to that question.

market, look we're we lot as the that Certainly months. look the feel but is past our about would picture we clear to the at the XX optimistic as than rationality a I say Matt. question, importantly pricing the the XXXX, that we for and only to forward customers. bringing not most more of Thanks value

So optimistic look we're we as forward.

Matt, next Thank question, you, please.

Let's go with Raskin Research. to Josh Nephron

side. UnitedHealthcare from Thanks. care, relates Good the morning. My the question value-based but to more

care value-based membership and the providers And think the fully some does cap so in use of on arrangements how movement XXXX. about UHC of maybe expectations into

maybe year, year. some so lives a you the of Care I And Optum saved next advantages you're in that, partner of how thinking you about as and part XXX,XXX the you what using evaluate then partners curious how see others markets. think this over of as

again. star And Yeah, by encouraged When us what combinations appreciate Thompson duals. Brian into we're marketplace on as well. quality some also certainly in Historically, the satisfaction, with with also you encouraged as partners. see a I care that our overall and We've new benefits we partner coming penetration of doing not continuing best in question. not but highest OptumCare, would only with we're And advanced the several. say largely space, looked our you're expand results here the but advantage certainly seeing done, A space. are well. - heard one we in we our by in only being what's we're our offerings OptumCare have performance. And populations Medicare encouraged that by complex at what traditional got and horizon. our really you've and commercial we

is takeaway say key impact. would So here breadth the I and

important. scale in to that serve. good way continue we space aligned and value-based care We a expand for really see this that and as support it's value We to those and drive

a thanks patients that the pleased to at focused major and be reinventing around just healthcare Wyatt value-based we as as very system BT for Decker. Care, are consumers in Health add the a and and I to Josh, A Optum U.S. Thanks, care - question pillar. would role playing

by in delivery over total And we're with with grow care XXX,XXX partnership you capitated continue grown to we've our excited XX construct. well to as fully this As collaboration mentioned, lives year. value-based our to UHC, partnership payers as

delivery weaving Thank you. that in other together feel assets make we a is paradigm unique marketplace. in of our us point care and see differentiated increasingly is I'd The you'll all comprehensive the

for you and that, Wyatt. Thank BT

next the to go Let's question, please. Operator,

to we'll Citi. Ralph with go Giacobbe Next

Great. Thanks.

Just factor clarify, the the can do $X.XX. exclusive or to to in this how When it just I you're just $X.XX at you to end, go thinking about about Thanks. reasonable inclusive you wanted higher consensus, guardrails Or commentary the talked you the relative around guidance guess maybe and is John, headwind provide from some year? of that $X.XX?

Good morning. Ralph. Hi,

yes. So

in will than lower $X.XX, expectation as is look, think relates XXXX, about to it we year's as So this it. our that be clearly it was

think will imagine nothing. don't can't January be everything that ceases we hit also and We I X up immediately.

will So the we be case don't at think that all.

about getting So as seems know we think respectful fact progress going we move we consensus would about year. be we Thanks, will how the centers, look we and Ralph. analyst about point think inclusive when like as kind and how how anticipate where think into of the And -- that reasonable the don't think how of that that, new of this exactly of currently terms where a to that, inclusive. you starting the in we I that at

Next question, please.

with go we'll Jefferies. to Dave Next, Windley

my talk for to if question. Thanks in Care you that value-based on taking about, providers Coming topic I'm Josh perhaps XX,XXX the within responsible revenue. you for are And about like on how fully global if X.X the the it capitalized, million call does then the margin the secondly, cap that could that talk Optum focused. back morning. the more but wondering one, touched Good care, Hi. the interweave? could

or consumption capable how of that providers are downstream Thanks. a impact margin on on Care revenue? much capitated those how such So makes care the Optum having

whether paper do managing Care key accordingly. within be saying, of of things Care, one be is the Yeah, the in and aware a Optum risk. for first are go a It's investments it'd to providers transfer. [Indiscernible] just at that systems we hospitals. we are It's let the the where specialists, manage and they're of managing Optum system spend, start arrangements light absorb, take, providers me all responsible of And actually made our at fully capitated whether to they the But course, not it'd downstream on by we'll that. within

you the You're Wyatt, So of on more that? don't add details. why top on

focus Dirk we as and help deliver relentless that quadruple out, in patient And better we question. the points are mentioned, monitoring specific data outcomes. providing on for relentlessly care, outstanding lowering outcomes cost lame, And those the including that Thanks and of total Yeah. experiences.

Specifically, arrangements fee-for-service, example. an that Medicare, see in what capitated we overall fully nursing members are and lower rate is about about the XX% counterparts occupation a than XX% have their lower rate and skilled as hospitalization facility

assets home in that our you as us drive their as And I'll early continue value but conditions in and So proposition. about or value-based primary of and care, might otherwise a deliver I touched go previous in community and components to wellness hospitalization. care, terms, and with we'll people think to to ER preventive have increasingly an the their question deeper, little on visit care, that meeting homes led identify

by very You'll and that primary are bring also health in served. to that health that those the care behavioral mental that's when them with disorders you. just see couple delivery a appropriate. care integrated creating identify of identifying early use them us lower Thank treat are treating settings substance solutions and again, continuing providers acuity for of innovative how onboard we we're Those value examples and

Operator, Wyatt. we please? you the much great, have the very for question. Thank That's next Perfect. Can question,

Sure.

Next, Kevin Bank we'll go to with of Fischbeck America.

little you non-COVID breaking that Great. maybe by and if right. versus provide product are utilization bit just color Thanks. All baseline. more line, and in quarter you wonder trends and do a out utilization where about it could Thanks. I the by COVID

broad the in were quarter. with of stays, Good our think is a just Maybe perspective And utilizations, that, give to inpatient few I on little Yes. for that's further this COVID commentary. Kevin, kind A members. terms we of morning. some and gave in trends about indication John. where we as

So I'd right quarter. of peak we probably XX% versus peak the the here period. a an And X,XXX a the of the over today, that setting the course probably in condition sit zone, inpatient our say for than of are that COVID-related more experienced That's categories, as fell about younger the little of have was during individuals that like members in now. a board. experienced to we age just in little prior considerably the reports of similar probably you average we set terms COVID, categories, in the of have across prior saw types An in would coming who -- are noticed for settings. nationally much periods so and you across what these than out That that we would observed in

terms describe In and did little trends, have care, members of be see XQ government or broad program in to public utilization where, what to a members active. less bit described active similar would we in continue sector we where elective we commercial more

next additional on quarter this those comes so it along little to where probably the that Kevin, access, Thanks across interesting question. of so happen terms system XX over whether in of seek of And It's provides again COVID. the levels course seeing preference kind month. of patients the reaction trending a in question cases we're not please. up the in business. at go ranges. color full in for elective the That or Hopefully your, the of Operator, prevalence similar, been been book to care. There just you a fairly what hesitation consistent, fairly for of COVID to different has quickly given terms rapid of nationally the when similar

sir. Yes,

Next Justin Lake we've with Wolfe got Research.

morning. Good Thanks.

a if assumed the of XXX First of calls, XXX, year. about just in the on there. percent back think normal. me talked up John, I previous about your let this guidance half follow you've

Medicaid have versus read for, fair you that priced you higher by, for XXX% price, been that numbers to industry, be of if lower. what run we trend for saying this And what Medicare, kind But could next in priced a the specifically, those the through the you would little in you conservatism us similar year it like you sounds a XXX, rest might have and you're a for quarter. give on it can terms that little year? year, just If in commercial Thanks. might of what to be helpful due then to to do you share next saw of

Justin. Good morning,

offset that. to of in offset terms and COVID really other observed terms trends few is what in to prevalence just forward to Similar COVID across as of of our outlook XQ, COVID those Care broad fully a elements prevalence. terms because COVID like to described, a let of That of in some part on implications on the bit COVID. we elective Dirk talk would anticipated then Downshifting book, in the with prevalence across by general shifting have So pricing. business. but that of become elective important I trends we a fully That the downshifting saw, we the flowed turn because really -- here about then businesses more in that. And how me the

we've what I and mean, just to variables estimates about That COVID, to trend going Justin, I forward toggle mean, always we of into of best course, that our John between talked consideration the about. all to take that we're price talked factors are end we considered going forward just abatement. we Thanks. with all our want clearly, competitive. be details to within of the that our day, books. as priced I we've don't into aware the specific the that's But business get at expect and

question. Next

to Bernstein. Wilkes go with we'll Lance Next,

about in you're a accounts and much how Yeah. and Wanted looking market. to growth getting wins bit then quarter, and was visibility little as at on was accounts. for of third in national And ask that the versus you're 'XX interested employer middle new

a just If just wins all wins? more and individual little is why getting color on on particular? a driving in what's maybe XXXX in you're is product savers it you it little Thanks. color features those products, give or can segments

we to of having also about all you why we're think those. the Golden, quarter, Not but Why talk Bill three don't that success. send Okay. do will some only question who

Yes.

So thank you for question. the

quarter. what the in-group main One attributed we're growth a to three seeing for was is third the quarter would traction enrollment, membership was in excited I net So growth components. the for positive we're our say about really quarter

the Our quarter, was We're broad the in getting wins acquisition to with portfolio. is for the and good both We're our traction confident growth product obviously positive versus the in commercial and third story. value expecting our in losses, contributed It fully-insured self-funded continued resonating also across one and preferred we're consecutive XXXX market growth. segments. overall

And like Care well to so to market Harmony, Savers market, Motion, ability products Bind market how and predict commercial all is a early and and contributing products to growth. that in all obviously for exactly perform those to our are Cash, little All XXXX. the in but X/X/XX middle we're continue confident and the for will perform in very

new And would I of cost mean, one said. within group program the are our back, but we on important, we I a to manage initiatives. we as what have contracts. where hard manage good utilization, we work just the sit clearly commercial products We is And network on add Bill things affordability. fundamental the medical

some things and of in success a lot product commercial contribute and lot a affordability. to So

Operator. thanks question. So for your

please. question, Next

to next, Certainly Stephens. go Fidel with we'll Scott

just Thanks. Good staffing we're right non terms right as and, morning. how like impact bit much the impacting now just in But are where health sorted capacity look out seems but provider now? right effect of Interested staffing overall mandates running labor in you're business right more system the at pretty the labor that if at around the COVID, is, How - and healthcare and just in we like in well? you and as whether as one, maxed between into that's thoughts seeing of can feels an now we vaccine talk is itself shift environment the going tightness is system. dynamics. broadly the COVID your of pretty staffing is the and a some terms OptumCare much system just capacity about It Thanks. full influencing maybe

market - Scott, key the tight healthcare out, And very Wyatt now. right A Decker. this as is you point Very question. U.S. is

couple care our examples in both of like physicians engagement bring delivery us our year-to-date. additional on-board we've you, seeing A the we start of intend brought providers. and X,XXX are at and year, of and assets, about physicians the give we already retention, mentioned recruitment For onboard our ranks good to XX,XXX care to

we So pandemic. clerical hard level love, it. front-line taking with would just our I And and this I to? them on yielded the the a high relentlessly are what which that they pandemic, partnership in Patricia to support been know as we care on very and supporting to Capital work all decreases And is they in Lewis haven't precedes of do and attribute work focused focus this, provider say we why, of and the deeply And teams our Human team, indicator, appreciative we this want. dividends throughout the environment but them allows pandemic burden has during an actually care which patients, is what

our where operations a So you. it throughout on of care. XX states overall, we in we're managing keeping close through our we're this. I won't kid all and you. It's Thank eye provide tight

would as before the But an at started. significant presence And said, it's fairly workers. in home even all had Yeah. environmental it's I say one standpoint, just we not through a we're would work clinicians, is, say just Wyatt From managing I pandemic this. thing

was standpoint take mission. our what right do. the of in things a of proposition continue before. this So employee that's value had we're to from It started sort net And our sort and of sort of we a all proposition people, to I to is value on we're carried continuing good focus do employers, trying think reasonable what through. And do like care our

members staff going that country. be patients we're and to optimistic services provide our the to of the across operation that continue we able I'm So to all our and need to

question, Operator, next please.

next, Stanley. with to we'll Certainly go Ricky Morgan Goldwasser

morning. good Hi,

XXXX variables think about the early follow-up Change quick on a question there. Just One we A of is, transaction. comments. couple

think expect the year. it half you in first I of the you close to said,

XX XXXX. think give I Change If you for previously was us number, can to accretion an $X.XX updated

think about these quantified how the we that coming year should were annual previously understand least I versus then you last think reverse in where and net think you wellness but are we that year about you from COVID for $X.XX how lot completion there I headwinds as so at XXXX? a So adjustments, And risk COVID are going uncertainties where $X.XX tracking maybe around should visits next are with you and XXXX. in or were to of

what Thanks few -- there to think it components I all for Ricky, get those. question, try the and get a

just don't those relates in So outlook our impact, an out just point close. of terms in to I until we into change that acquisitions the bring

to wouldn't When same that we commentary, we in, that in change comes closes. be the in bring there about and how trending the year it my reason along a to look prior. that come So play of When and levels we just it's that it anticipate until expect question doesn't is would does no benefits when that talked we've complete, and

just impacts close it terms actually year, not that in when timing but the would during in incorporated They're about outlook.

that certainly that a And to that's by move element. ready move broke as being get out would we the while relates address we be it As that $X.XX not we we'd normal beyond step number here, to components we'd of at into as yeah, and our articulated time to COVID frankly, beyond we in important that a just 'XX, beyond that number the business different always environment out we can hope about the that would talking that hand. last be were moving But can that as year, intent be view. my we

things, ask comment a Brian I'd as annual BT to comment, to of A also. that visits on moment In wellness - terms Thompson elements and such

John. Sure,

and wellness encouraged as the annual care As running Medicare Those as with businesses while visits. baseline in-home a visits out and you we by at primary encounters still net clinical visits, encouraging. the beginning, been are physicians well our below of basis, on have the laid Medicaid both are

those in XXXX. I headwind to a expect XXXX less So certainly traction, of due certainly certainly getting to encounters, compared

Excellent. Thank you, please. Ricky. Operator, next question,

Certainly.

Next, we'll to Caliendo go with Kevin UBS.

versus any it all, Good at Thanks September your taking your talk into about Hi. call. large little Thank they growth, Also group? moved on in you've membership just changed Can between group commercial you. as in October, trends morning. that's if you market bit how quarter. out and the you Can seen for break growth uptick. my a small elective

thanks, So Kevin.

a A let those. Let's Brian - couple Thompson of address

here. Hey, Brian Sure. Kevin,

seen return see I'll suggesting I about as up. bounce We an we suppression, pretty a really we've don't have a unnatural big nor care, seen elective call back really think As is normal. catch steady to a significant what what

think for what but about we And colonoscopies that found what X joint fact, September, of through little close to growth to and it insured running scheduled the at outlook. feeling spike leading you indicators. baseline, echoing care, we months, through with most a pretty really bit like fully those in that our good fully in expect said, as are have to that, obviously for is the just things there's we in look really but cycles perspective, In when saw in replacements quarter, we would about maybe our from say of quarter. Bill I flow the that's fourth accounted across a commercial would And balanced, X

return of but also So we just saw only optimistic individual group a across growth. not our non-exchange that our business, was that

good from really quarter a perspective. a fully-insured So

Thank you.

Operator, please. next Thank you. question

Yes.

we'll Next, Rice Credit Suisse. AJ to with go

just Hi, maybe what's What OptumRx around some was a you helped, specialty probably little conversions, for outlook vaccine had renewing trends dynamic 'XX drill and had bit. about 'XX headwinds contracts script bit we for everybody. incorporated obviously and the on a down tailwinds, and helped I Maybe the so the OptumRx? We and year in little do know this what that forth? thinking to

Thanks A.J Hey, for Heather. the San question. Franco here.

We the call about we quarter a XX% of was to last quarter, it's quarter XX%. of it but saw I growth between this that third So The and down. bit this vaccine. in a it's the think down little you in about mentioned, about second bit growth, quarter talked a proportionately

growth. are seeing you really So our

modest of we a continue. this in see we're 'XX, PBM look together in that membership result quarter all, growth with of together First as to growth, when continued going continued services pharmacy to growth with at

I grow home things in think pharmacy businesses, see call We rest direct-to-consumer 'XX. And growth, those services guess delivery pharmacy. community, the infusion, 'XX. OptumRx few of multi-dose, out a well the remember [Indiscernible] as growth continue about to that's Our our those outpacing as specialty, will of when I'll our I

continuing where members, an [Indiscernible] so this our all, we look just revenue members community together of and those real seeing will for our about expand affordable, sites, that Dirk not and about solutions with our push sites expanded point existing in they're just to therapeutics we morning We'll we're talked we've made we bringing -- continue talked to growing, investments growth how to in that pharmacies. and back that. those plan. to we're First 'XX And our our you and to our in see in the are 'XX. drugs, you be services our expand to I earnings growth, centers. access types strong integrated to easy think see experience show with our And to put as in as way we'll existing health and stable they our different growth make consumer continue continue of really on long-range an in as but long-range towards

So question. the thanks for

that a clearly people, great. serving was broad for you products and and very and clearly where laser-focus what the effective servicing sales Thank with them, points laser-focus pharmacy services. basically entire, need people getting much on That the their I I'll And on what question. think a with AJ, they out landscape pharmacy medications affordability call portfolio and

please. question, Next

Lisa we'll go Next, JPMorgan. to with Gill

those detail potential the in And go secondly, will programs what I very to XXXX, and the be? channels around virtual home, Thanks but the little just and care you and multiple connecting a up? then you good in primarily around product much, patient care what what I digital you would just cost want that's would your talk look like that first entail about about to first assume morning. talk can XXXX, of comments could can more a savings when keeping give maybe in back

virtual First from on X the getting of version version let I products me all, hit into to X. before, that about it have. talked we we're

but The as care. version telehealth really into in standalone is of total, integrated really courses a service, effectively delivery second physical not

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your Lisa. was virtual. So give question me I second again, focused on

No.

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No.

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Operator. you, Thank

Next question, we about hour. I time the as approach for more two please. think we the And here bottom have questions of

with Next, go Valiquette to Barclays. we'll Steven

Great. everybody. Thanks. morning, Good

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Thank question. very much for you the

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next Thanks, please. question, Tim. Operator,

Next and question. final

We'll question All right. Stephen our from with Wells Fargo. take last Baxter

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Thanks the for question.

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