UnitedHealth (UNH) 13 Jan 232022 Q4 Earnings call transcript

Good morning, and welcome to the UnitedHealth Group Fourth Quarter and Full Year 2022 Earnings Conference Call. A question-and-answer session will follow UnitedHealth Group's prepared remarks.

As a reminder, this call is being recorded.

Here is some important introductory information. This call contains forward-looking statements under U.S. laws. securities Federal subject actual are or and that uncertainties expectations. These to to differ cause results experience materially could statements risks from present historical A in the Securities uncertainties Exchange Commission, risks the of cautionary that and and description statements periodic the found included reports with be current in and file we including of some our can the filings. also non-GAAP amounts. reference This will Relations non-GAAP the of of the to at Investor Financial the Earnings reconciliation is on GAAP A available section & Reports company's page www.unitedhealthgroup.com. amounts

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

Executive UnitedHealth will Witty. Andrew Officer of the now the I turn Group, conference over Chief to

Good all us and for you. morning, you joining thank today. Thank

with potential you provide those sources addressable own capabilities of we Yet conference is of Over enterprise. past settings. we growth, expanding are capabilities the people growth in many extraordinary unlocks of strong, large our and opportunities five can on we discussed Each in their ways November of within really what connectivity and the the and markets. developing dedicated value year, well-balanced in and UnitedHealthcare pillars multiple at our value-based consumer-orientated care delivered the progress we the Optum of course the strengthened investor powerful deliver serve the to across our which

entered year, capabilities achieving value-based UnitedHealthcare, than have other delivering patients this almost by and of of Many Optum's more care. this XXXX. example, offered X Advantage patients. X.X are people Health, care we and benefits, comprehensive kind the accountable many payers our care support this of one served plan For these expect expertise Optum a accessing will in fully We're or Medicare who to services by as other connecting we million by participate will we provided in million

their provide coordinated in they supported clinic clinical these when next all where care We our data-driven right will and in homes, incidents to by care, the integrating it. and serve settings, patients need and behavioral actions, best

area day, managing more deeply services. every in in-person in lowest we pharmacies, another the solutions order providing for treatments connecting cost costs. process believe finding people or path We is complex our outcomes consumers better for lower We digital specialty a our medication them. the X homes, clinical access engage in right to simplifying drugs, offering people million make community options, Pharmacy with through connectivity and uneventful is at their advice vital are to this which their

It's also nearly than of XXXX. driving more community the growth. pharmacies, more of XXX expect end we had at XXX the have we By than beginning XXXX, to

deliver outcomes continue level, and providers adherence to XX% better services the compared a XX% see medication We very local helping have complete to and which average. personal rates, including care impact at the these more about U.S. are

management, providers. able Our patients' time care pharmacists plans their take are to with and to know other get medication support their to the collaborating treatment

patients and for for in choices We're significantly A we're more to come market, need. cost payers principle biosimilars clients. the providers how patients the care offer best secure to pharmacy therapies more guided to the example, getting by to good their of in they prices and lowest as positioned the

pricing prescription the In by best and to get driving consumers benefits combining and economics. affordability addition always formulary biosimilars, market will to ensure we're cash

such consumers made for program out-of-pocket since drugs cost last very has as zero to life-saving epinephrine. our This Our drugs announcements and insulin offers program progress year. dollar significant

number approved employees, Moreover, Our our XX to offering to this have in been their self-funded expect now fully goal available today, our this of we've business. of for chosen to that insured as for throughout has make employers And add U.S. rise. X/X been states and the we

others point this just of such broader of for their time officials a in teams, we're our work support. and grateful community the possible the but period state not short to only Getting in was through healthcare of and

let themes from focus us. year you to you a me to the continued our couple hear American expect of on can to One of scaling ahead, consumers. Looking commitment is

to simplify will decision-making with driving experiences see this and us design, their empowering You -- partnerships will enterprise, will transparency, offerings the Through have and broadly and closer greater and speed, Walmart, core an who increasing innovations, and helping over experience. Health our RVO the more across their as and you such support. should should becoming influence have care digital product their enhanced consumer, convenience

are You will how hear we capabilities. also amplifying technology our

see from Optum the the that used healthcare organizations technology an acceleration an OptumInsight, to legacy and bringing can will emergence opportunities and ultimately enhanced be the to of within how the system. overall XXXX creates, providers of patients health change life

a well deliver to shared November, on with so do responsibility this objectives serve. We the we year with deep people start behalf of late sense are prepared to upon and the of in privileged to you we

I'll that, Dirk Operating Chief over With and turn President Officer, McMahon. to it

Andrew. you, Thank

two the started and cases, years some ago; year, into we in ago. are new months calendar weeks the many While shows XXXX our team's

have We into growth necessary and year to been on the strategy heading sustain execute this and our groundwork laying our beyond. momentum

new broad new value-based and under Take of patients across a XXXX, will even to we develops, provide the longue to greater new durée the this regions. a adding step work this through for you and organization deepening serve patients I'll our of existing initiatives. give in presence arrangements our value in sense that how customers ready and has many care more range consumers serve year To in been some of areas

we our for help coordination investments and both year XXXX to ready support transition technology, are into and and beyond. other because The simply a app. the certain the is needs These in establish serve. of Our a activities make us downloading to are clinical new current That's critical fully not matter extensive. include investments to network accountable team's foundations significant preparations preparations care training, growth

expanded high-quality care people of access beyond Our and development clinic digital with services this ability of underserved to of bring and complement the and rapid challenged the clinic-based in-home patients four-walls to has the often some our offerings the our most country. in These capabilities. clinical serve effectively

For our visits delivering reduced services and by in-home health versus approximately hospital XX. an outcomes have value-based fee-for-service, of NPS achieving instance, comparable patients, XX% for

Within commercial health benefits, you've new heard discuss us our products opportunities. adding innovation is how in growth

quality unique first behind The looking One transparency of building. solution employers Surest cost. and a momentum are is and high strong dollar Surest, those is employees and who for into to and coverage

to as is Thus rise. will Just ago, years nine, XX we option two more an far expect in it to plans. national accounts and offered XXXX, Surest it continue traditional one one in in

extended Our seniors in build provide period. which another and offerings offerings are capabilities to valuable for area invest we and for new an plan,

social comes as health. of an determinants XXXX. is get we deploy being expand XX of with to the NPS real-time range to testing continue Seniors For we to our in place and improving vaccinations and home. on of value expand resources services XXXX, provide It able clinical head helping services of care via types we HouseCalls initiative. their levels offered, example, retention into drive even the will increase we high address to In more

better achieve In help addition, members our advocacy health. solutions service

compared XX% Our ER up solutions offerings. gaps in to increase who and led to an in care, visits standard a to customers lower increase closing program in XX% over utilize XX% enrollment clinical

me our technology, and this observations let health Turning we see growth long-term progress a opportunities area. offer few on early in to

possible. bring completed as system healthcare the market With of to intelligent to are and we our health accelerating as a rapidly change combination, investments this more vision simpler

services to innovate continue coming combination with in complementary and we growth. advisory We will the are revenue and services, data And financial software, from analytics, customers most the the executing of on our technology-enabled expect. cycle of synergies management deliver benefit this

information system positioned solutions revenue Health in invest here and are our chain our finalize end-to-end of to analytics cycle entire expect offer Maine OptumInsight Owensboro our and all partnerships, we market, of provide chain. a two across services resonating across key that new integration technology in in as and typically reached and we OptumInsight the The Along technology, to comprehensive increasing these uniquely integrated, including comprehensive with Northern advanced breadth momentum Light is technology is full tools. Kentucky. services see with activities. and feature supply recently healthcare in Health The value solutions, lines, analytics the we management, health we

Financial that, it Chief over With Officer, to Rex. John I'll now turn

XXXX into you, years, Thank are strong in Dirk you and innovations investments beyond. 'XX Andrew tangible foundation speak people November, that head building described a upon has recent and deeply Dirk. company shared we potential The including more well The growth to our serve and in we and as with of a performance. tremendous accelerating, and growth to opportunities that

Fourth XX% XX% brought or growth of over both well-balanced prior XX%. $XXX quarter per at grew billion and of in share growth Optum and share year than 'XX more per adjusted year, grew by $X.XX billion $XX UnitedHealthcare. to earnings earnings of $XX.XX, adjusted with double-digit the full Revenue

years from remain and $XX flow dividends, come. billion Our expand in for income. repurchase deployed capital to strong. billion capacities share X.Xx returned $XX operations shareholders capabilities to billion in to $XX.X growth We or 'XX Cash net and was our through capital over

care businesses. number care our by performance 'XX and in patients by X consumer increase care the billion we the Revenue patients of value-based the as in revenues to by offer. driven per XX% served $XX arrangements able to OptumHealth's Turning we value-based under by grew the to about of million. in of levels grew XX%, are expanded

last XXX,XXX OptumHealth revenue a of to strong in organically a billion grow year over $XX.X of additional an 'XX comments year. billion, grew and concluded with year. with value-based 'XX. to revenues We off XX% increase is November, in OptumInsights $XX serve patients this Consistent the an will to $X.X in our backlog start billion

are unlock care impact noted, patients. the Dirk have positive investments rapidly can As to more we OptumInsight providers for advancing and our

to half these significant investments year. expect important the in a the of of portion We make first

and the continued billion Optum grew X%, highest growth. for Optum by revenues businesses. sales the wins among laying were strong $XXX approaching and strong the foundation Rx customer continued driven expansion retention Both year, for market-leading has a our of customer pharmacy delivered, services new ever Rx

of full billion nearly $XXX XX%. UnitedHealthcare, year grew At revenues

Our outlook with objectives is we the XXXX you strong Advantage Medicare consistent member with in November. shared

underscores the people and dual our This our consistent rely to up expect needs in product us. come stability innovation, on We growth. to have individual, and above-market performance to of from group more high-value across year Xth benefit consecutive 'XX seniors special XXX,XXX offerings, serve

an redeterminations for early quarter. in second Our eligibility expectation Medicaid will that growth the states resume outlook 'XX incorporates

today Our commercial our people offerings, eventually we objective ensure offerings. continuous million in activities we people Within even And completed, when redetermination will have our than is state-based X we commercial do to expect benefits. additional about serve people to expect more XXXX. are that across all serve exchange-based to and access to

their and the to employers which with momentum gain this in will growth to continue market lead years. employees, next over products innovative and several new Our increasing

this In further performance sum, weeks objectives our performance the while year validates getting ago. growth just XXXX confidence we are the started, our businesses is and early six shared in you with we across just seeing

Now I'll turn back it Andrew. to

John. Thanks,

just determined we've our term. head earnings long XX% further and to we upon over into of XX% described As momentum this build growth the morning, sustainable the XXXX, we're delivering advancing to mission

caller, that, per One with open let's And operator, it for questions. up please.

question We'll Instructions] first our with A.J. from the Rice [Operator line Credit of Suisse. take

of swing you The lower end, say momentum that the at higher the across be offered your wonder or biggest push what the swing positives the would of into when you've the look factors that taking or potential of range back the challenges? a end in to and towards step 'XX. the some in towards lot are company seems mind, company I EPS board factors

New well. you much, so to as Happy Year Yes. I appreciate thanks question. A.J., the and

feel little where strong of out conference. ton the when we into off, actually a we anticipating do year, a we're year of performances. bringing Most our XXXX. feel the last businesses even at were first We very we So were of that investor across momentum the board closed ahead

strong perspective. from that So

our this membership. As just just two three of roles the year, me scale is or think and real out call we membership growth look I One maybe the just points. into in standout for

course, you've of marketplace business the set 'XX, all in MA in look If is by of at across our signals platform, another million make frankly, from heard huge we of 'XX as we're numbers about now, sure in books you the that's to cycles That lines of all where that at performance UHC anticipating, and that after whether plus just the business, look seen us growth. you of the during I amount books commercial get wouldn't 'XX. surprised we talk plus. engagement didn't folks to determination they a time a government in tremendous go product redetermination tremendously and, the we if our end X be in through exceed Medicaid our strong

confidence an for go forward. really we which that's So a think building is of area us as lot I

and amount course, of us And lives. our within call then record coming really you years. Optum capitated next just go over That's platform. across selling Rx let a to rapid tremendous seasons value-based Optum, through out fully pipeline of business me our of building OptumHealth, for the growth growth from several

You'll the after we'll see be expansion, expect continue That's to hard. at than extraordinary we number 'XX. well, folks we and were by of to grow 'XX, of double -- looking an end the after the looking more end of that

to of for that itching now integration a going really long this leaned where an been to We that and in into OptumInsight, better. year which do. get be OptumInsight. on we We've That's able will time. OptumInsight, business we change of do been fourth can known a know the quarter. the We've a new emergence we've

You'll very whole couple in of innovation. new see the that cycle first us product quarters give year. flow going of of a to rapidly That's through this

expect as go system lift by we very of We to sign a up of an being big able these up momentum source backed health increasing be to large partnerships. that forward,

You've I to substantial very for already addition remind investor seen ones since have. in the in really sticky, are large multiyear of we organization. two conference very these relationships, us sources scale, you, do energy the November the

all of that So really momentum. drives our

We to that the all execute our transaction looking making sure focused We we're in making you on every our after is every the we've about every land after right given we patient right receive in way. that sure ability that we way. right. we in is where make and single day, organization get think consumer I every sure look approach ranges the

as material terms going look is the where in what of come for execution is extraordinary out. we so we raw the into company XXXX. And momentum be determines to The just

the next operator, appreciate question, I A.J., question. please? And maybe

next of Lisa is from the The question with line JPMorgan. Gill

wondering managed RADV a the out I Great. talk and care February on conference about expectations comment you this maybe had there and just if week, just expecting just that is was of We lot what this for was our of ruling? could X. generally

of Lisa, not very speculation the thanks Yes. we're obviously, to question. it's very, I a very because imminent. much for potentially going mean, into get ton

there. ask there's Tim? looks And so not to I Noel some maybe M&R share But business to sure tons his after value of on would of Tim like our perspective that.

at Great. Thanks but share ago. the for investor lot a discussed of don't that couple a of couple the information weeks question, Lisa. morning, elements to new We me talked a about conference we this this of revisit key a the bit have and let

important caring program. critical So broad the there's providing first, risk really access to adjustment and Advantage ensuring Medicare really equitable disincentives vulnerable. inside Also a the for most no part is of for

reviews. remain of consistent and of form And timely very takes to transparency. also continue We supportive the here, more that additional

the CMS of include some respect same that audits original to course. important with is elements to sure conduct it's about for these decades these the fee-for-service Advantage to very don't comes comparing very that few and Medicare on with That audits of we key make And arrears. thinking basis. adjuster in important a challenges, And a Medicare we're also, that we're

specific, and good to, really validated. final rule That the without as alluded our narrow results but to get hard how about really feel set, Andrew said, we

sample sets our But to more of Lisa. next of at our call. Some some Thanks, discuss sets specifics quarter's sample below. likely were above, were

be of biggest course, volunteer single sign coming MA I U.S. for of proof popular much. program. the the program bit the the every successful part across so And is up I a of and And you of the record just position, seniors to seeing of we're thanks we little is the obviously speak. to step program And again, as that number another enrollment this year who mean think maybe whole broader for as thanks year through folks in unbelievably just, up question. Tim, Lisa,

folks super terms to care, about deliver come circumstance, be and any forth. thoughtful sure whether are working thoughtfully that consequences, senior, making we and would society, for changes, ability important other really it's administration good in what further of impressive And circumstance program are hoping for that making it's that this collateral It's particular to any super changes seniors, provided that quality any value value to to of obviously, holistically what in important the or updates is any made we forward sure good is with the see. if look when reassurance

operator. the go question, much With next for that, so Lisa, question. And thanks to let’s

of line Research. The next is from the Raskin Nephron Josh question with

if wondering how when sort the OptumCare When large earnings you of was of I or add looking speak ranges for first margin specifically physicians break the got scale and you curious And last physician get progression even, you how that some scale of changes that I'm takes? takes to over could the year. does in I'm you as of years, if in time. it half groups And started first new how get to margins? you've is long now, in ultimate three book to this accelerate that opportunity? that the the long then

It's so really thanks for -- big that's a listen the a question. -- Josh, question. much

a that. thoughts just toward few me Let give

through to and this kind you of OptumCare, in the now, to fee-for-service go through why of And from rapid go value-based it see And that through practices it's and capabilities development within then financial this to of -- building our Patient care. clinical as that's of kind how a the Patients the economic from as value-based that care because capabilities an be and part need are patient overnight become our they life perspective. before go of practices all at scale of to you know size is years to in medical took and takes getting long really to is key of years credit And it care takes who an that. scale or five we expansion. how that come now skills -- one truth. it's And build. doing XX move to process success terms is So value-based teams network we seeing in the three patients. we're the of course, reflected that's to

and we in helps -- In with, learn, obviously, muscle every learn because But the trying to here, building learn, they whole think right what from level. your to delicate happen, practice. the those within make likely might the what's to And of know what of could terms at terms of front get how it's to it's system, organization correct is about we you're continuously they correct, patient. clinical in professional This the be so a dealing sure of decision to a test, how highly the whole really higher can folks system a test, I makers information have to are what -- what who very able happen, make we for best a be the ultimately you're line front every somewhat very also decision system on operate responsible information absolutely, work. the

clinical follow. we pieces where we areas those economics sorts improve of care. clinical the the care, If give to invested, us Those can opportunities the progress, improve of relentlessly

they're facilities too of it's whole getting getting delayed, what is facilities, model, sure making long deferred within the prevention the that priority, people So care well unnecessary, treated that making illness don't people all spend the clinical when care sure in the this economics. in drives because that's right, right is

it's are little position more then into economic that four the Josh, three that us aggressively quickly. patients And seeing to we're to that the the our being better allowing to more -- cohorts is That's bringing next system. we more bring come over bit. seeing, or invest indeed recent to a mechanism, new question you're to What continue years, able last a which that life at Hopefully, moment. in really And helps please.

from take Lake the Justin next Research. line of the question with We'll Wolfe

quarter. line about discussion was just to -- respiratory in the your for been December. even there's around trend. in been of a wanted questions the hear pickup MLR There's touch Wanted impact But cost overall some quarter. in to on with the utilization in expectations

So how would love just maybe some between little on businesses, Medicaid? looked different it, trend comments on the and commercial, to Medicare a those

Yes.

Brian Justin, thanks much. I'm to please. that, ask respond so to Thompson going to

making to for these Throughout Justin, baselines, that references Thanks, et pandemic, Yes. question. the cetera. we've been

years think, out quarter encouraged XXXX. anchor fourth I'd pandemic, our an three lining into just look is COVID out had pricing like now being this the most expectations And as inside are as that more we what as to And expected. waned. we forward up trends had ground nicely to to we has I'm really played I our set what by

suggested To your saw that as flu, we at conference, had the I comments investor around our spike. certainly

start for, to wane think, have here We weeks moving now that we're as I five seen forward. consecutive

So a what it we planned we've versus forward to out expected, as like looking had meaningful impact not put I'm really for.

of Thanks, So zone what I'm sort that of by back of sort is book managing cetera, pre-pandemic with all around well encouraged expectations flu, about of business most of including unknowns look and Justin. the baselines, predictability a how forward. as the up elements, of are to and lining we're out greater had we that comparing those encouraged really we et to

for thanks question. so the And Justin, Brian. Thanks much,

Next question please?

of We'll line the take next from question Wilkes Lance our with Bernstein.

what of those higher how was focus in are war on premium and to employees maybe trying that? kind your the little that get sort interested employer is think And you the how need of was If talent what what that pre-pandemic costs Could for of they're to they versus control pricing the XXXX? a the segment? levels, you used about bit Yes. And to in I'm employer be commercial in like talk trend like? for customers, waiting X%

so thanks much. Lance,

ask kick that. off on Brian to me Let

Dan the I'll I'll off trend. it conversation with start, Kueter. start hand Maybe around Yes. I'll and to then

simply information because pacing COVID you share used trend stopped it back as we through As environment. became were instructive doing well to in the this know, so we day, less and

share, return this those think to we're and encouraged I by zone consistency, the can what seeing of to certainly metrics, we'll we're get front. we on utilization I once What

durable I think with urgent shifts. we and to seen seeing in-patient moving outpatient. respect it We've into are some to ER

on comprise And side, all we suggested in the of all as trend we're have the the costs. markets, But had for seeing But function majority the than know, flip costs a we I year, unit a unit labor in And stronger half trend. as we higher in XXXX. these know, planning was overall did of earlier as really XXXX the XXXX. that of first still reality,

again, that And to I once we And think zone want can we I trends. largely through to those we'll where back give that are pace belief pricing thought XXXX, and that normal levels. to get share we

So on dynamic, bit a the competitive little maybe with more Dan. that,

question, thanks and Yes. dynamics commercial market remain competitive. competitive the in been, The they've Brian, always the Thanks, as same for the Lance.

to forward our continued continue to do and have that. We price we to trend,

range As we've some of Brian within what of modifications how the has we've there but and been indicated, to expected priced. all the that, all range within

plan, in see deviations expected don't So at our we material any what from all so. we've

so Dan. Thanks, much, Thanks Lance.

Next question?

And we'll question take Windley the Jefferies. from our line David of with next

lives into. I'm That's at substantial about OptumHealth home, what of to revenue transitioning trajectory clip behavioral have member to the you about have care opportunities the talked added context full rising wondering the already rapid on cap that value-based and those In those have pretty served? as due add more influence you're a in or and home per of care.

behavioral that. and to adds home the So

Yes.

comments to of think of just on to can that. out Dr. value-based maybe that a But is kind the and couple a before to So make what's you break imagine particularly Wyatt But driver that. a of second going the of Decker big I consumer in he don't ask care number. we served move that elements driving I'm does,

one often complex D-SNP one wraparound the of you represent better substantial within end-to-end care profile a do is, D-SNP have a the to community David, more particular pieces compared of And folks helps Now of looking giving much two of business us -- for different home better population, of the out, found of a So pick right? out called a there, that course, amount in much part platform, course, job areas within type patient. just of of population. the a to the of they revenue you

So I that point. make just

creates to on. home within to course, the is that Wyatt accelerator a home go a That, So metric deeper along maybe derivative you And to ask folks D-SNP piece, better. of to be the you're focused well how capability, home serve a going allows kind please? phenomenon as though, bringing were behavioral it us little which as an of around

Yes. frontiers providing one of Well, to the it view for We very have ability often it's as difficulty needs access like the health And patients dual thank you, the special healthcare to very question. provides timely. home and new that of David, of leaving value-based because the convenience people, their home get care.

in our as clinic-based if a care developing you platform of well integrating as comprehensive with you model. increasingly care care fashion, see both home the us will So will, home

our in within continue services care and healthcare utilization two during behavioral And our of to market. vehicles as that U.S. primary has the been really differentiated ability in pandemic, grow, offerings we've makes So to clinic well sense. behavioral both is and for immense behavioral it the creates environments. will virtual our growth value-based seen And and with similarly, as embed us, behavioral, the need if care care as for home solutions the care

that how And together, growth care comprehensive so provide made. a care pretty differentiated we're and accelerate and creating excited this we're about that value-based offering helps that people coming is

Wyatt. Thanks,

please? Next question

the Taylor from Gary question Cowen. comes of with next The line

couple respiratory. just a for numbers. looking going One, to Just back of

I MLR Brian basis Our recollection from was was respiratory. maybe meaningfully XX XQ know said points for you higher. of guys not about

bps or there from respiratory that another XX this is So something means I'm quarter. assuming bps XX or

secondly, couple above gain, 'XX investment just the about The a Street, million rate. of million then on $XXX hundred above about run guidance the And

realized above about there recurring or of that's gain we how that was wondering, quarter should kind think just So a that in number?

Gary. much, so Thanks

Let me ask John Rex to respond.

Gary, good back here. go in morning. will I order

I think it’d in of commentary So we forward. terms Brian were in and of what be very in similar Thompson's seeing terms quarter just with -- the

those So modestly you end very in the November but in respiratory. expected elevated, much call the back elevated when line what -- of I'd incidence it but at we front modestly -- in would we of were of that have and terms flu was with XQ, and in

two Let's in view. whole just those combining of together put terms that

when elevated, quarter, immensely very materiality $XX the element, in the but I into So in billion of take in wouldn't that terms of it though, costs you medical consistent. material, call it

investment I in of in there. In similar rate XQ wouldn't probably ago wouldn't kind reported be wouldn't very -- terms of just into we what use as run of year that like year, out stepping terms year investment a income next income, of to my level though. last probably absolute the

we're still XXXX from established we with comfortable how that So guided also. perspective for and

very XQ too. of that year, So last with consistent

Thanks, you, John. Gary. And thank

Next question please?

question next Scott from Stephens. Fidel with the The of line comes

worth key Just be there's your shift OptumInsight. sort any been additional considering? on both sort at OptumHealth capabilities all last seen the if a any area we core and at of we've trends elements key have that M&A that of adding priorities or think about you are big that scale the interested Should to years, could clinical of which other the over focus in and summarize XXXX, the continuing focus for and the whether few

Thanks Scott. so much,

couple marketplace. a say we detail continue where would into effectively Before of ask go a looking, capital I I'll a to our into we're this, introductory make to the but John make anticipate wouldn't about fully just on ton to continuing of I Rex comments I deploy notions. maybe few

part that's of its hallmark supplement ability effectively do You this to that We'll organization. big been continue a organic that. the its of and has to capital efficiently know utilizes been growth, of success to the and company a

a have substantial speak. process of we We in number as transactions

of Change OptumInsight in the for As well know, you to which process life us. super the now important we're bringing obviously integration, is

As seen. diverse the more we it's very I I a deeper, look this, forward, I than we marketplace. probably is say John opportunities we confirm what will think ever would pipeline probably mean bigger, see of that interesting see we've

you know kind our for trend be to last That's it's We'd growth And this expect been year, pretty interesting to year continued. a early that five -- probably picked pillars. us. see up a certainly year of

growth M&A You align us wouldn't all to at be obviously investment capital our our to surprised pillars. around expect

would be environment. not seeing the But detail. Beyond to you how go perspective and that, love certainly, to I'd us too I'm give John, landscape bit on more sure necessarily a wise the for you're it much more

Scott, approach Absolutely. there, relationships. start so way aligned much how think we should pillars just how look and mentioned five we should our we echoing evaluate, pursuing I'd we with we the where growth Andrew be what yes, investments opportunities, say, and and I for very this with

understanding investments very I'd make, in that terms such heard point that make, terms before are. us we the particularly and are in we investments businesses value-based terms long-lived out as delivery the relational about markets, that within of these care of in these of certainly talk we've as care

capabilities the and way in address want look aren't like very that the are our pursue. approach at together greenfield to markets of we M&A bringing them so of Most be to as we that established we terms would the that we marketplaces to it's would established,

certainly the that of the marketplace, types in strong echo this previewed potential. sets enterprise itself terms environment are seeing capabilities and the opportunity in there, how we fit broad are that terms of in environment of what The there, within that might Andrew they a

think capabilities in seen I have years, to value-based value-based company. bring among we overall Certainly, relates the seen now the think, across how of of the as to we opportunities see lot that a expect it care I we've elements. development you of environment as all strong we and as that to very and last as would do number where a terms been you think the And broadly I’d most define focused. of in like over interesting, know some you've components of But about care. us other capabilities also characterize the within new us

Yes. see years, the be of I'd this -- several our us expect continue part key and that goals, And the a John. our being support to certainly, agree to the active part over see of I space. with continued you completely, next be growth in long-term should of agenda

Thanks much, so Scott.

please? question Next

line Fargo. with the Wells next of We'll question take Stephen our from Baxter

follow how lives home great? other care I inside UHC say home model than payers? up with component would setting, Wondering primary opportunity. color breaks book sense the growth along the the by in the the if further to potentially penetration you're home the wanted Any of accountable you'd there on value-based clinic any model or XXXX of be And the also out the X with would care great. fully be then, versus million break XXX,XXX how out member for

question. so the thanks much for Stephen,

home that the years the very and care particular. how we home see we've over substantially model, So first seen of off, last platform, in reiterate the grow couple of just important let me the development

But the sometimes to and of within recognize is are environment which happens be home or often what can we're kind always happens what that environment, clinic together, Super home folks certainly the here. important what course, care really sometimes. managed just that environment very building the -- essentially of the course, happens, of though, it connected so home platform, is

nominated. think at look that happen. way really I are in space. to not home folks the -- about the clinic it we've able extension wouldn't we're way But at think, kind just I'd the as or it's I do I of a I built right instructive, what look can see think, So to of it. about That super who home clinical necessarily to the think it capabilities way. nominated really, not substantial

when system. And at you're a engage environment. ton -- everything to it out That's of clinic, things you're for especially the that A reality got of the the of the home in of difficult for part in we've it there, it with get capabilities and happen the minutes happens folks speaks sure People reason, find a super -- care. lot important who making not the care or to difficult XX find home, to right? whatever

What just other that, payers caught strongly, that of with is UnitedHealthcare, resonating I'd say but super doubt agenda with And the is not that no there's has this side well. as of more of that. one other the this is generally. see and the to of continued of the delighted dynamic drivers imagination payers, extension multi-payer Optum and And the we're OptumHealth of

a In growth rate with as the was to the signal for or fact, during Optum payers quickly as of QX, our non-UHC strength external growth growth, that's super analogous our company. i.e. rate And growing it revenue internal important with just was UHC. was --

rather as to continue whole But stream you'll area, that would a more about about look separate hear home as forward. thinking important strengthening than it at in as I of be we a So kind which a it more go way. we would

helps question. And that bit, Hopefully, let’s Stephen. little go to the a next

Rich Our Sachs. Goldman next of from Nathan the question line comes with

been overall out It's coming well have the and some that years that are kind the point the notice your trend, some expectations be few the see rate context above advance for noted could view importance in curious relative past we around for market? moderation. at in weeks. just your its 'XX been how The what historical know that clearly will you the be outlook of and I'd MA of

thanks obviously, we the rightly Nathan, we much. getting obviously, be. would so Yes, close know to you going to say, rate And as when what likely notification. hear we're don't that's

program I sit seniors. important for -- think we we incredibly an would think is where MA is

delivers program to delivers effective now to repeatedly part been to the of voting the that the which it's how value course, essentially the in value demonstrated become this just it it think is. way signals And are I seniors of society. individuals,

elements that deliver We our is out. focused to believe in, effectiveness ability of that key benefits the that year on year one of stable we certainly

facilitates what year rate deliver us So that to to that we to and on the Not right notice. hope and with to notice mean line that much bottom I we work out, to we that And that, once the in, look it's will be, get obviously for stability. forward year say us. that more seeing until essentially communicated it we continue honest, we'll allows be us is can

question. the for thanks So

please? question Next

from Erin next with of line Morgan the Wright comes Our question Stanley.

Optum from biosimilars, should let's targets months? the on your How the rank have you're the passing can some strength the but those to biosimilar XX Rx, Rx do benefits versus say, across other here you detail levers over near-term services, savings Optum we pharmacy drivers you imply XX to On drive anticipating? next, of

Erin. question, Great

a HUMIRA a strategy, that terms brand ensures lower super whether out access or the super the this Optum of biosimilar, to which next a Rx And in year our Before give the right been done with pleased think who details, a I Heather particularly whether that's to to the use you important innovation a cost that's on few we've has strategy. molecule, contracting biosimilar ask few to gets wants of progress more work I it's coming weeks. in the contracting that's made, innovation the everybody gate we're deliver within been

lower the without give found to drugs Heather way all So of cost to to I that. that bring in and to marketplace, having be really on in lead shifted or folks a dislocated everybody to her the she's that team want work we And to from for done environment. credit

benefits As the to directly themselves. you those rightly say, we're payers passing folks and the back

growth year? And with that, is describe what Rx Heather, why don't you driving the and pick this up else

Sure.

earnings give you you strength next phase the hit of sense think let's another the biosimilar then for just So and let when maybe us of first, me in 'XX.

marketplace through proud the up strategy, Andrew But clients, this a that watch and a continue here dynamic strategy is to can manufacturers specific so creating and of to to biosimilar it. allow to as a many markets the one to is year most set environment of pull in the to the and the So we competition said, biosimilar coming value originator with intended we're with in important unique market. will we What's multiyear for HUMIRA that.

the of But and product the compete the months support manufacturer then, how over our product next pricing. obviously, different attributes, say, period a economics them criteria XX their the with to and strategy on based the maybe, attributes, and allows clinical

out the exclusion. without We'll goal. not see of a over and choice, the or play able extract And the disruption goal that restriction that's be value was provide to years. So to lot

out. that play So watch we'll

we're the position what of to services. think I years, what of we stories in been about and building last the our of think the of or and 'XX, us some end when pharmacy you've as But couple the and strength that's it strengthen heard hoped for the of earnings the we've talking about by be

pharmacies, specialty serve But more our those pharmacies in the And you our Therapies growing of growing. getting and example. community They're where quickly. Frontier are rare are I'll drugs quickly. of the some give are expanding disease orphan an many we as Yes, scale.

-- instance, because to those scaling the are we community have point we're supporting of central pharmacies. we allowed volume where going for the fill pharmacies scripts to So community the have

with And harder negotiate negotiations, those we're our better at able in we're procurement of PBM. some getting on to But look also the businesses.

pricing attributes. season. The selling hope heard You our have strong with selling quickly is product another moved again. season our pricing, dynamic. strong with We We to

is XX% products. adoption year-over-year PBM Our product up in our

Optum And our then partnership we RVO. last with the of in two, or return investments we've the made Therapies, some on year Frontier got some

I those look particular think, to drive the on towards focus for those earnings that, areas is and when look us in year, you next So areas. growth

Heather, well Rx said. Optum transformation of And platform. the real you've a again, seen

If you business in look five non-PBM years revenues that the X/X at services. pharmacy came of about ago, from

Now it's at half.

shift tremendous a As really significant. the on business' scale, is

more consumer in that they the the cost. see modern, us the is themes, Heather which to orientated say get through, way as RVO like Health, U.S. way should deal a to consumers then And consumers, of on delivering possible which for we a much lowest should shift net making expect. Real consumers sure you'll its get that building much as driving engage best continue of product. you'll relentless and one key partnerships lot was innovate business in is more in see I'd that is And focus the and which mentioned, to just the make the with

so Heather, much. you thank

question Next please?

from line of with comes question Barclays. next The Valiquette the Steven

any the light to and in lower or slightly sense so and quarter, and just the elective data, utilization? traditional procedures for, respiratory setting hate call I cost elevated there from of your particular? that was hospital in non-COVID then any that, been how guess, related for And costs how fourth the elevated non-flu-related and tripledemic, in the sense any that may regarding the inpatient fourth for quarter, acuity in it, is of level just of the respiratory have flu quarter there much call there let's to of it cost flu care much elevated the was the

really, I a not was the say asking QX. almost the in that. for Stephen, was it see. I'd grand U.S., nothing -- noticeable. way the I'd costs to mean, much flu grand the course, of say healthcare scheme Listen, thanks in and think bit more in so in -- of I the respiratory. There But -- immaterial the almost listen, scheme of

typically mentioned saw ranges a weeks somewhat would season, looks said we Brian around as think creating I what much triple you it's coming earlier, wouldn't somehow of this, what within come, a of And much lot the flu as seen expect be That's pandemic, different I this I elevation I five normal the coming you in the yes. anticipation last was And could in think -- think all -- was like really of which, we've there viruses not little QX early notion there. it, down. pretty

a big really with. isn't. as healthcare you characterize really It this that of we're I total costs within dealing wouldn't to the overall the deal So guide mix

question? Next

Our comes of the America. of Fischbeck line next with Kevin question Bank from

reflect more that be are significant and able quickly Just implications on talked wondering change bit how how might as see potentially little the MLR that, in thinking think pool some if out? it the if there, the if compression Medicaid a talk play risk of I the for you about could bit program membership focus for redeterminations the that you implications. does and you potential a you but rates a opportunity, membership you about margin to expectations the how your guess, about about

looks so might that, thanks that. Tim, also roll talk of just to as you Spilker, maybe degree the could ask business of much. helpful. I'm do who you That into visibility bit to for on maybe our Medicaid you after allude you And book Tim as business going be your Kevin, a have little to XXXX. also

Kevin, question. absolutely. for Thanks, Yes, the

factors utilization, as So we see also in the membership normal. that redeterminations ahead, as really the change certainly, then number certainly, a things play acuity we'll of return as And in of to resume. look all factors

revenue, account and got those setting have at rates, with year. where of is the taken in look, states, our visibility factors So set expectations revenue with line at revenue they their we've in we outlook that our for November. that point, this from we when into shared And around all that consistent as the XX% and of

states of view appreciative our that the the many provide take looked coming depending data, we're to they've give on have XX got to So redetermination just that state. as develop. customers, as it be forward. thing, taken and process opportunities feedback adjust rational work Maybe that we've as extended. months will And them things knowing ahead, ahead, us we our the factors look balanced insights with to We last will know to will XX one

what we So with November of bit really terms and more in little certainty no changes our in communicated a revenue. from now

appreciate I for Thanks last go we time just please? could one Tim. if question, ahead, Kevin. Right. question. Thank Operator, for that, the we have you,

Deutsche Our with next question line Bank. comes from the George of Hill

third-party you to wanted are on to you as I think from should earnings drugs the guess, how the then now? look of Kind I'd about capture specialty shift channel expect the retail drugs in the channels? to And of channels like what about what mail you shifts of these the power the back come we through versus to kind can retail drug of specialty away owned more tack mail? pharmacy percent channel talk going initiatives. versus I and do share of And how can the

so the thanks for much George, question.

please. Heather, Let me to it hand straight

Sure, great question.

urgency hope And to but our and around program. clinical in As specialty the drugs, pipeline our also can growth, continue us in driving. our you see you care we patient feel in see it I can the

actually serves the So I investor it orphan conference. know we our Optum but about Frontier Therapy, I rare model. of and disease good a think, talked sort is drug, only

the It's we got service how how best around deliver model the serve a the the That inform comprehensive we to patients, wrapping but patients prescriber, business is clients helps clinical that specialty those using also as to our pharma and caregivers, drugs. the well. we're family, just model the in not supports it in serve

while advocacy, So automation. think in about all that support, investing caregiver holistic support, patient support, prescriber patient support,

and just today, pharmacy higher -- our the our specialty specialty. specialty automation self-service is maintenance, over XX% We're pharmacy. That's actually up. mail in not seeing even in pharmacy our in So that's

So we're in the investing automation.

our those is there For our those transactions but XX/X that pharmacist comprehensive that simple of need value support, have these, more conditions complex need want that care us to with them. and with interact with team to help the

will our partners. we always work So retail with to continue

We serve are to want we of network our and -- we've with got able strong clients consumers very our that. a best-in-class service. specialty be to But

optimism for we And George, Listen, come the for ahead. question. and you of the hope of to call growth continued very with thank the Heather. Thanks, you focus I the a end sense much leave our year on the call,

with our the to morning. healthcare individual your forward improve in levels We thank all remain we system for journey expanding it. sharing And on our so again much this with help on meantime, look We and the this ability serve. executing in you those to at attention excellence appreciate and intent progress you for We April.

disconnect. and may now participation you your you for That concludes today's Thank conference.