UnitedHealth (UNH) 17 Apr 182018 Q1 Earnings call transcript

Company Profile

Participants

David Wichmann	CEO & Director
Larry Renfro	Vice Chairman & CEO, Optum
Steven Nelson	EVP & CEO, Unitedhealthcare
John Rex	EVP & CFO
Brian Thompson	CEO, Medicare & Retirement, UnitedHealth Group
Andrew Hayek	CEO
Dan Schumacher	President
John Prince	CEO, OptumRx, Inc.
Timothy Wicks	President, OptumRx, Inc.
Eric Murphy	CEO, OptumInsight, Inc.
Matthew Borsch	BMO Capital Markets
Justin Lake	Wolfe Research
David Windley	Jefferies
Kevin Fischbeck	Bank of America Merrill Lynch
Sarah James	Piper Jaffray Companies
Stephen Tanal	Goldman Sachs Group
Peter Costa	Wells Fargo Securities
Joshua Raskin	Nephron Research
Gary Taylor	JPMorgan Chase & Co.
A.J. Rice	Crédit Suisse
Zachary Sopcak	Morgan Stanley
Anagha Gupte	Leerink Partners
Ralph Giacobbe	Citigroup
Lance Wilkes	Sanford C. Bernstein & Co.

Call transcript

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Operator

Good morning. I will be your conference operator today. Welcome to the UnitedHealth Group First Quarter 2018 Earnings Conference Call. [Operator Instructions].

As a reminder, this call is being recorded.

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

David Wichmann

you. solid cost balanced, thank morning, this recent deployment. quarter for of today. trends effective and us top continued strong advances and line years, initial capital joining medical of Results the performance, growth, performance meaningful for XXXX in NPS well Good Thank you revenue

quarter share. $XX.X grew cash to grew a from operations net than billion. to and XX% grew to more First flows XX% earnings $X.X $X.XX Adjusted billion, XX% revenues adjusted

one diversified, socially of on care X care net and decades $XX.XX and We of and health serve. care mission Every better information to a earnings the advancing everyone. delivery, of end last a offerings make more are pharmacy Group full medical the a and businesses; highest-quality savings, of affordable, range now but than we care live of help at per differentiated work elements Health the and million health people to We person for today offerings; more to our people lives at of to benefits responsive the accessible new per year competitively per our population every help the ago. constantly nearly day share $XX.XX so all the are services market many more reflecting diversified look share needs provide to raising range above a medical system outlook globally serve UnitedHealth the very individual company. $X.XX capable, team healthier by those our responsive we and we adjusted other to and works value to consumer XXX,XXX strengthening health make XXX health technology, five financing the lower members health one $X.XX our broader upper digital and positions; and share, all, and and end our for these health health modern years strategic towards evolves time. different

improved evolved from is designs outcomes third again and to from This clinical quality professionals continue health example, offer the demonstrate opportunity for job costs years value-based their type of will within from one XX we categories receiving at evolve will and coordinated clearly we constructed care care across And the five in arrangements, of first which largest Group. technology are we we UnitedHealth look of Americans the example, all satisfaction are medicine be different because operating expect fee-for-service accelerated the properly highly half as now built. an care For shift physicians health fragmented and I'll reducing consumer while and structural value-based care. years, pace.

More In high-performing highly the these provides all enterprise the contracts the directly, to to performance care uses identify of to resources UnitedHealthcare of data the or improve system are benefit enterprise-wide for clinical value-based the we ambulatory employing all of and across and high-value patients serve, modern vulnerable new reside, providers. data-driven, such applying our pharmacy services then plan use we in optimize under and partners Specifically, services and and care across arrangements care of expanse understand and including privileged OptumCare and to technology consumers and to care these for of care delivery integrated many products health products health health frail analytics payers examples as payers, coordinated, for how other we these our all performance value for and design are for we care delivery and individuals. with UnitedHealthcare. people Brazil. care. to enable caring And in of wherever competencies information system they spectrum instances, transparency services knowledge-based delivering advancing through There better are operations serve populations

This care health will highly process. could time, will over it actions represent And And the used health first overall and to systems. the intelligent, the capacity records. consumers we consumers information the health way health and markets health the is improve to of help will information IHRs soon performance These consumer-directed understand we execute hope, we in individual next-best health in offer serve. advanced, individual transform simplified better help

care runway Renfro. levels are progress performance starting in enterprise and march the colleagues collaborating to for future Larry for this evolution, the on health update their early an average NPS My across towards Executive, for remains as and health give our Optum's Group towards UnitedHealth with of the We with we across seeking an vision growth. over to shared will people long XX to Chief its them for believe score value and you five of improve quality businesses the take next our sector significantly We years. a care, higher

Larry Renfro

just through and lookup facility evaluate in greater consumers' search, Rally billion. clients and services and facility And personalized conducted quality $XX.X their treatment hospital, of searches also highly It Rally reviews management, by are at Care. costs. searches $X.X X.X Last means using last more more by designated with excellent actual a earnings yet care provides directly best price meet Care other $XXX use million over and earned revenues Care. through and about and Rally premium quarter per access Strong almost of actual backlog the have in lower Engage saved delivers products quarter selects next-best revenue than than more of helping That and first costs reduce needs incentives a first the rewards aided Care. Optum's first specific highs, distinctive higher-quality meaning can to benefit XX on specific $XXX quarter have quality, Dave. Care of a and redirected People own information year, what XX% driving margin care a for XXX adjusted in and their serving out-of-network XX is past performed healthy consumer time, can from operating for simpler, a individualized people and Tier contracts more of all-time basis you, simple Consumers people X together Operating growth, care this costs costs with specific for than they relationships care. served, ever searches million lists the before. XX% to be provider higher better deductible transparency million Thank productivity million been behaviors, health up When care for plans, $XXX people Rally than Optum Today, for physician more choices system. scripts a consumer status. see using independent doctor. by Rally Nearly variety their Rally lifted using Rally XX% customers medical health providers. billion. action Optum episode. relevant, out-of-pocket year. physician, per week quarter. will in sophisticated consumers at and and patients. saw begins year a individualized details health hospital network deeper their we are users points a to this ways XX% million broader to and more consumer costs personal full and grew focused over more in-network to people an

be will Advantage Medicare offering our this We introducing in customers to XXXX.

we physician the saves physician, over switching are with advanced plan care about money prescription sponsors patient helped gives have price to and are of to their EMR and also health the directly information the offering. doctors Optum, we transparency a alternatives. PreCheck into enthusiastic for PreCheck to patient's the support mission MyScript adherence and cost MyScript providers workflow; covered driving these time, is PreCheck whether pharmacy by is pharmacy simple and through of of for give lower an It's cost as pay XX% care options the care. like consumer and what you XXX,XXX the and lower-cost a when idea provider's realtime touch patients in people plan, our of are drug care why health. pharmacy This and improves we We broadly. what year, already consumers points improve come leads their out PreCheck total MyScript experience. use, Initiatives of needs pocket. to and impact systems in technology health and better addressing possible reach one still Since many presented last patients. about element patient from where synchronized MyScript our all to as health the consumers is our and improving approach of the introducing will to so And integrates outcomes

and what We innovation unmatched already are is an on for building foundation growth.

the business, For capabilities marketplace. our $X with organizations, into full-service billion care grown and delivery management strongest capability have revenue we hospitals a in the

X This add up Through first to programs Today, more medical assets on multiyear With expertise. approach new serving care was the satisfaction through we other to we in from has benefit holders breadth fullest our flexibility, emerging payer and with transparency, management for an with committed Labs cost, opioid basis. services their the OptumCare manage to $X,XXX of of clinicians targeting $X transformation workplace customers. driving expanded the care day, founded had alongside research four disorder convene significantly now pharmacy health fortunate consumer addressed Bank, with health their Every UnitedHealthcare member an opioids up the by to this and complementary use transformed an for focused delivery practice. synchronization have opportunities management, improved and and health their their on help and serving a more to distinctive researchers national funds. people our care a procurement innovations U.S. newly research the quality, to business, physicians consumer a savings and care funds a million Last actionable with in epidemic, deliver benefits in on OptumRx to XXXX, prevention, through rate care where to processing Promoter Optum from health averaging XX XX being used are respectful accelerate in of high-value market-leading expect of the the in XXXX, better developing practice professional early-stage Labs, care apply alliance billion trust focused value across to XXXX. a is fresh the business; performance it quarter opioid higher forum growth we Ventures the in XXX,XXX X medical in per services business produces more operate we We're pharmacy up approaches of customers, $XXX and recognized than pharmacy and care and grown to in Optum health. and the and environment drive our tools year market we billion than that application the recent pain dedicated hope impact our single helping has profession Optum interventions. extraordinary the U.S. of innovative over leading and and managed to cutting-edge $X advanced This now satisfaction, platform Optum per individuals. epidemic health and of million By on treatment service ideal, care a deeply delivery Scores globally. partner. delivering potential maternal and business year, also million to consumers the Optum account deepening crisis, achieves the right And advisory aspects spending, people, payers major Net combating of open-market technology, of into superior lower framework and OptumCare marketplace those exceptional ambulatory and able framework marquee

to over UnitedHealthcare's now Nelson, CEO. me let turn So it Steve

Steven Nelson

health South UnitedHealthcare care grew performance Thank on We're serve. delivery. the benefits of market-leading duly X.X both and behalf in transitioning million those TRICARE. strong across growth to and report In eligible Highlights growth our leading quarter, serve presence you, included in people after and and a Larry. we American Medicare businesses members first Advantage building pleased to more care

grew billion Our operations last X.X%. $XX.X includes dual benefits $X.X more in Medicaid with And revenue this overall. we of growth And of complex billion special our first from In medical and in costs managed grew Medical more operating quarter XX consistent benefits earnings growth well of margin strong with to expect revenues members, days to were ongoing to an XX% outlook over XX%, needs grew seniors comprehensive service year. XXXX. providing and of aligned their first that serve We national oftentimes year. XXX,XXX care the serving with needs. them address continue

retaining the we the XX,XXX we're expected, individual group-sponsored first and seniors pleased As Supplement. Optum in completed to in in MA serve MA another quarter, HouseCalls strong, markets. visits. saw balanced growing XXX,XXX performance Medicare In people home and And

health last improving those XX% with grew full in In UnitedHealthcare. quarter, by with visits decrease by the last call. our our commercial serve our experience we increase the & their past over group year and to Individual, risk on XXXX in outlook the UnitedHealthcare despite of XXX,XXX this people XX,XXX-person on expect over a impact We year, Employer consistent

of XX% the to continues customers operations serving Global We Peru. in and deliver share performance UnitedHealthcare best doctors, this and and data, and merger better to and over be qualify patients performance growth expect a Colombia we than doctors. quality providers. needs to among want full find need over higher patient now broadly, costs doctors the physicians, X as their across provide consistently doctors drive expanded about has our year. their of time. these with premium as physicians. treated episode possible to this information nearly this to for Chile, refer compared We help to our average We UnitedHealthcare to lower deliver non-premium and More panels. care consistent which of as and of more want its care gains want for distinctive when more many we through Banmédica, million being UnitedHealthcare as the category We by Doctors to whom to designated balance grow health system people;

providers for designed services, nurse everything best advocates, digital coaches, affordably. designs, benefit consumer-centric care and to get the sites the call people to Our care at is best

lifestyle medical or also by determinants our pneumonia We demonstrate broad-based, help We've failure and a of call alone with lives. engagement the all serve outreach can to caused healthier collaborative in about cares more year or many last closed and to like a identifying simple of a digital tens compassionately close to complex, things UnitedHealthcare practice, much physicians which people's and be Optum's impact save needs them of through millions that urgent is This them. lives people They care gaps channels. from from the vaccination in that people often them the flu to care, live social and retail helping in tracked gaps and deviations modify approach homes evidence-based by behaviors through partners of our through health. HouseCalls, to

security well next investments frontier the health issues experience person or transportation and the like on countries sustainable as indicate other from gaps housing, in social heavily food determinants affordable and the integration reduce costs, stable to employment upstream advancing more our these and as these serving Data data and why other in and we more housing determinants in is are addressing coordinate sit from care. own That's U.S. more health better weigh reliable engaged here services. whole the Social in of care social

service and We'll pool a managers continue independent to that month, prioritize on Our national growing times for people to organize of element evaluate, capability how leveraging XX,XXX as and results XXX,XXX services identify these organizations. community and for in community-based learn another care per health community services this and social serve. is workers best state behalf of coordinate the we performance members people. strengthen we distinctive Aligning driving social

to X,XXX care organizations. essential care we're are Gaps patients will care X% in we people being with cost approaches from care. than visits lower in Commercial market-leading elements; can outperform XX cost designs. both in care design providers. plans next value-based patients and have Today, and million are receive relationships ER. care consumer which benefits health channels, high-quality As Well than Advantage. hospital UnitedHealthcare's for Optum; the arrangements even often benefit lower Dave X% occurring all rating of providers Americans drive are to our by part outcomes of to seeing helped overall about modern of these and point integrate market their XX% at rates within physician years care care -- trend from mentioned, receive nationwide the these we primary physicians more decade and in innovative admission the less And Taking lower and care have a use receive NPS value-based in integrated care technology through high-value, commercial more a decision-making. physician services ER health serve XX% care More has deliver delivering market from coordinated and receive Medicare growth these quality their benefit NPS the across blending they with consistent closed in half care a leverage systems XX%. well-child because information medical consumers distinctive the executed, estimate More benefit recent in categories. performance-based in on hospitalizations favorable overall, engagement integrated visit coordinated as treated market of measures, reduced These Medicaid.

distinctive UnitedHealthcare positioning highlights internal investments greater driven other modern of our each a gains share elements forward, by benefits. leader in map consumer-centric and to road health continue and development, market growth Looking further as under these

Officer. over turn Rex, Financial Now UnitedHealth Group's call John this Chief to we'll

John Rex

delivered of revenues Adjusted in Consolidated Once billion, XX% strong, quarter. adjusted $XX well-balanced Steve. the per earnings exceeded from year-over-year. operations you, again, $X.XX share exceeded $X.X grew we cash flows performance Thank and billion.

care to or to medical XX.X%, run minus expect XXXX of in We ratio our continue plus XX basis a range points.

the tax; ratio XXX quarter from the effect of from Banmédica first the acquisition. and includes the including about of health basis insurance XX.X% modest operating points Our cost of return impact a mix,

to Turning sheet. balance our

financial our Relative position billion billion quarter on payable, quarter's almost capital medical medical billion this the costs days Banmédica, XX.X% in $X.X to XX%. quarter at equity at funded payable stock than income. nearly to payments. to a maintain million $XX And debt-to-total balance roughly more and our XX.X translates we was stable flows $X.X strong flexibility. ratio and $XXX were again strong was XX.X X.Xx dividend as significant reserves, from continue shareholder days with first of for even of a We repurchased operations year-end Return at end of Adjusted with cash ago. year essentially net distributed

the in ahead, Looking fundamental the performance the strengths our usual across balances of outlook our company quarter, costs respect prudent first inclusive the of earnings for seen medical in impact the first planned; of course insurance a increasing spending quarter; impact and has as increased the year. the headwind in-year half health modest the in through deferral, which tax second from investment the flu

Taken more range XX% or adjusted XXXX over together, share $XX.XX the we've Dave? growth XXXX at than of a to to $XX.XX raised of expectations for our midpoint. earnings per

David Wichmann

John. you, Thank

in intensity are forward on an with as pace and the restless this and for our positive care, are market moving is We which as we well. fuels mission. health the know enterprise restlessness That enterprise we change

the for We right and ahead. tools road people, have the assets

benefits, and delivery, on five well with pursuing growth the set focus areas, in capability care position And us for diversification and health and into and we returns well care services, are and pharmacy care global. alignment, emphasis solid future. digital health this growth of year key business areas sustained capital unique consumer-centric Our

that serve our opportunity enormous And we for this by more help on potential are ultimately of to and just and areas our the We in the of than work for ahead progress can And we of and grow; our system morning. everyone. sure given fully energized be these completed. the returns to and better provide elements organization real heard have full one importantly, and on to focused have each strong have consistent, You opportunity and is we health our the opportunities you remarks an the this throughout see executing agenda see make to potential humbled even healthier we in shareholders. team people leadership make decade the size

now questions. for Instructions]. We will [Operator open the call

Operator

[Operator Markets. BMO Borsch Capital Instructions]. first Matt take can from question We our with

Matthew Borsch

expect It's in I quarter. ask the had trend wanted that Can I that the in that different -- trend to to group it's you of last share years Group the changed the seeing versus in UnitedHealth commercial know about over maybe enrollment. market noticeable you the the insured told strong to relative gains for you've that just decline talk us we're XXXX? a had competitors that about X where what's segment. vis-à-vis trend first

David Wichmann

you Thank the Matt. question, for

that UnitedHealth on fact this some think its insured you off. slightly Dan, commercial was overall, We programs, including growth way, Dan government provide quarter it's came additional strong quarter. color can in I Group's And first that Schumacher. forecast be again it? had would in enrollment but

Dan Schumacher

point, Matt, your we some for full likewise group the a years. commercial had full the very we year insured year. again, question. have the this X over expect for growth on And To XXXX, thanks growth last strong yes,

in market. is the inside really our delivering As growth core the you value we're that, of look

important market To prepared us. greater some business. Nelson of that. talked well quarter increasingly We that quality, inside and with along improving product expanding price the we for an about to continued driving segment particularly in forums, hard, anchoring specifically, continuum the creating have remarks; that's worked base That's are consumer those other likewise, products do aligned for this as that the and high-value forum we've and we our Steve about and a And are small people. provider to our in offerings products experience offering talked in

address you at customer the as really were results insurers level. of quarter. that investor And health tempered, chose market to and the conference last the we middle the reintroduction at tax with shared related to employer Our competitors how

our that included struck pricing we focus doing on so. it frankly, maintained and, We balance the think right costs. our we to So

the season of you us And guidance middle to progress the at market in that consistent with you through year, the concentrated conference. the Given see provided we've return first investor all that you selling is of year. the tell we as is will the I'd half very growth

Operator

Our next question Research. from comes Justin with Wolfe Lake

Justin Lake

Optum. couple questions on of a just First,

and discuss providing First, CEO for you of at the us can to implications And improvement of Optum expect the walk margin drivers rebates Witty directly XXXX? product can financial you comments naming consumers to you any retail the Andrew bring then what Optum the through him of of on the And here? new as to business? the and

David Wichmann

Justin. question. the element guidance that Sure, skipping get so Wicks, you stage, us at XXXX not We're for Thank to you Tim over about of for pardon talk going can into margins? this it. on

Timothy Wicks

Sure, absolutely.

the the first for look of growth first the of Optum pleased If in the question. with quarter maintain expect segments, of And have the your metrics the at return. as all, to obviously So each be the double-digit look to year, of had those in I thanks at And year. growth of we're able we be the throughout thinking Justin, the the would results. we that real about also drivers we and earnings double-digit businesses, each

If focusing as connect, really we up is client as our ultimately, businesses the then momentum and the backlog OptumHealth health million driven the well. in up overall XX% on And IT and expansion. in expansion, consumer at up year-over-year in just at then served, really of then of which is drive leverage -- a number of advances which as in Optum OptumRx growth that's at TRICARE. XX%, each focusing really care membership and that's well. as solutions of terms And business. by parts scripts, due our excluding growth and MedExpress OptumXXX; continued really lot helped really OptumInsight, really government; to SCA X% in So operating is care consumers business then year-over-year. look of well growth the driven script And across growth that XXX by productivity And in year-over-year; our delivery Optum

drivers those and the improvements So each of real operating the quarter. were the the over financial of

David Wichmann

you if that quarter. address point-of-sale because here shift a we globally, can? was want Justin. the hopefully, So first in Just question to responsive, more Do that rebate the was

Schumacher? Dan So

Dan Schumacher

Sure.

high we Justin, forward. the I used medication consumer our costs. most list prices manufacturers having a with Obviously And pharmacy is -- the point-of-sale consumers' underneath -- an rebates, that's respect think perspective, impact by benefit. set from important it's are for to they're step on out-of-pocket commonly major that,

And so their in wants accessing support possible costs in OptumRx, partnership to with UnitedHealthcare consumers the medication. of lowest

So to million our changing apply the end, are X/X/XXXX, members than rebates insured for we fully of more to consumers. manufacturer X that for beginning at practice point sale

of point a And benefit deliver UnitedHealthcare consumers, would care today, overall towards reducing so shifting impact and apply the is directly in broader health to simplify overall really impacted sale a So to we a I minimal OptumRx continue overall has one premium, improve just rebates but to experience. very drugs. effort and it to step by the savings has very to part of big this you pharmacy to impact those tell individuals that taking

David Wichmann

value that more to to considerable have obviously very with those will the have going drive to he's greater individuals try we're need, those to benefits that pharmacy them respect greatest us, the joining management. really to just And be of of terms joining to show their Andrew levels us. pleased up to trying Witty who bring So affordability, health and which counter; in Justin, overall

our platform a field lot many an And of and of the these and care. information Stephanie able talent ability addition, capacity Andrew about as Eller; to Ventures be to in have Andrew, around overseeing strong a the both that areas care a and I think others, emphasize and health technology to and is he's capability his a technologies Horoho; applications these is as be leadership strong things as of UnitedHealth in robust on example; have most things Group broadly. of growth and million extremely health which critical who was this around market-based that'll mention. this over knowledge the in helpful the enlightening; track Optum last many of of the has understanding very something broadly. of And and what and financial information He time He He to enterprise-wide of and Peter excels also level advanced one in week. an add global And in here Musslewhite; $XXX UnitedHealth strategic and practical care on appreciate it I as leaders; want Fehr; as like we've of broadly. organization's middle that at has health capacities. I return is Group is for addition responsibilities really skills take this, spent so care curiosity, context testament year. to every addition capital. are But organization; here we me his well is Robert least too going growth his with deploy will and a are his is that the have onto insights. our today, Hayek, at of conscience talent a and very of room to last with and in terms Maybe about is announcement, leadership the to he in committed courageous, with the Patty the Larry, some to in course, in very to this has indicated Andrew the orientation; my team, and to about health you brand, just each year, broadly. And attracted considerable NPS Pronovost; social company. pharmacy it's we some balanced very time well consumer As fact, Ken clear Optum he's that a this lot advanced

you're of that of away to mission we're of to what XXX,XXX Group. strength advancing all single UnitedHealth noble talent, that So all a are this activity people around of them, take continue are you them, direction going see company. have should that in from a a of we working is to kind you cultivating the if where development but talent. And will, we retain acquiring working And

Operator

our Windley Jefferies. Dave We'll next question take with from

David Windley

year. Thinking there that about and you're Advantage Medicare seeing this strong the growth

this kind rate for year, you As bid guess excess deploy to and next I'm around in now-we-know be of [indiscernible] funds available here looks the of to year philosophy think interested you your for what for stability strategy I how in you approach Advantage quarter, for might strong year. increase with benefits XXXX next next Medicare

David Wichmann

comment? David, as as that stable participants. health we're also you the possible Pete, retention enhance care. That way consistent-quality our you but premiums, want MA ensure they pharmacies keep to is always trying networks, to Brian, do have benefits, for

Brian Thompson

the for Thanks question, Sure. Dave.

here the at with we are start strong XXXX. said you very to the pleased in As year our outset,

pleased towards expectations It's are We the really tilted is. we're the really but made the staying we markets growth mix well-performing also for us. very commitments aligned to strong with our and where not only growth of for that

pleased XXXX. So to the with start

encouraged As the the you said, of as are last we XXXX, look points we rates, nearly to X forward year. direction versus by XXXX up

of backdrop underfunded the over remember context over chronically to program XX% the has a years. important been the X it's that against past think I

So encouraged continued policy and cover in benefits and also for the several costs really by were providing quality needed. program respect and in the continue changes, what we're we're and framework stable strong seniors rates help to popularity. for necessary rates momentum beyond to XXXX and but seeing with our policy keep were They changes innovation, advances the

for the and choosing advances customization those benefits, the served choice, we'll expanded I see think really of senior very our those really specific of all Medicare and population value flexibility to Advantage. positive benefits more expand

and look stability marketplace in will we at benefit we approach expect certainly an As the broad-based large. mindset the for optimistic with forward, XXXX

Operator

We'll Bank to Fischbeck with go Kevin America. of next

Kevin Fischbeck

risk being there's announced, impacting could through. a competitors about I the guess, if heading your the PBM little the whether PBM or season, question side, wondering might the next bit on competitors and to some opportunity about selling kind and the XXXX seeing care side managed how side; any how year. that the managed Blues was into talk tax next you I the reform on you're be addressing with to care the deals both into about side of And that on responding guess guess, about concern all there's pricing I I year. think the

David Wichmann

side, then with on managed think on Dan I to the PBM. we'll and John flip Prince Okay, care we'll start

Dan Schumacher

this itself national the selling defending. bit little early amount would the to it's we're regards cycle. also tell with The at larger, very that Kevin, I in the account pipeline decision season, is point, it's -- you that a but

to to For group Advantage successful the to portion employers that's that employees. benefits on but again have the think incumbency, early XXXX solutions into offer we resolved in say at at converting we And enterprise progressive we this offerings. point, one their I Medicare looking retirees for for expect would likewise, a theme is the lot be around

we'll selling on you So updates through we year. the as to the look progress give season

question towards probably inside more expressed I say measurable I gets tax is itself. this at tax we take somewhere that X.X you points, fully marketplace. or think point companies haven't it pricing is the a so would some of the that pricing in Plus, around money in well, also further. the a to And change related interest little seen aimed give tucked insured diluted and reality think impact I any have The bit. as around in investing

this at tax So pricing. related we haven't seen the specific anything to point,

David Wichmann

PBM? And on the

John Prince

sold invested Yes. some still also some pending. as majority but the success Kevin, developing, to plan We've market the large-, of employers, look is as beyond. business in the well it's John mid vast in the initially health and large X/X/XX market. large We've large good PBM, terms some season medium-size is still for very the are activity The the in selling decisions some the say, strong, I'd had but in season still is of XXXX at the if you groups. especially Prince.

on very pricing competitive, I'd also, our our [indiscernible] value to differentiate We've people I'd for One, X our been ourselves drugs. resonating points. in the say able it's you of So in we're story relative message around is a market. value heard terms how but price PreCheck ourselves stable. and Two medical is on question I'd market competitor, together MyScript, innovations in in consumer. like asked the And today really say the really key pricing, to we point-of-sale Other you best is we're say in and And the total around focus costs reduce how total our around and care cost doing third our think the differentiating I focus price focus the market. on And rebates. pharmacy our are about the for is positioned clients. ourselves bring of story to

And really our our on We're the our story so market simple, focused consumers. to on focused clients. we're is

components, map X very and against resonating We executing we're that it's have road those an well. key X-quarter

very more of season as we're started, lot share how So pleased the the a and to progresses. season

Operator

next James Jaffray. We'll Piper to go Sarah with

Sarah James

you guidance would and or guidance double earnings that beat the And estimating number $X.XX more guidance The so beat offsets maybe of is tax you're through below raise, bit was can year? us XX% bits of walk the conservatism tax and right the for the to points is the about headwinds raise? on a still rate us versus little than bridge then guidance a the beat, that coming so some

David Wichmann

XXXX, experienced because or of XXXX are we forward beat the expect well. -- Yes. the me, and and disconnected expect a excuse I well, and for can earnings of of expect have guidance as the year for the already in little headwinds balance the tell you, or some

as as well the John discuss item. those tax So will

John Rex

Yes. John Rex question. here. Thanks for the

note So -- view is where I to with terms would of -- beat earnings our is more also expectations in perform. where that a just the consensus and seek line against we but would in we

though, talk about talk of Let me other you few a here, the tax the as about components rate. just

So with view. rate line really in our tax also,

our own was view case, XQ expectations. the line the approximately for That's the is XX% with and So effective rate in our tax year. still

by tax in the first years of ago, were rule that accounting changes the main year the I the of implemented -- half beginning driving is couple believe. factor the So share-based that a the in 'XX, lower rate is driven

XQ -- the So as a our drove in volatility the change a consistent exercises and That that's XXXX creates share-based And higher of awards been level and vestings over pattern result. that half, in and little more then of the earnings in, difficult share-based in first was time. the of line dependent exercise I'd say price project, so to and upon awards shareholder more came the of our and impact with a share activity, kind expectations. in we supports where but

history be to So continues guide. a

We our XQ being activity our tax results XQ effective is of somewhat less then rates but than activity exercise there. first lowest half the much in second highest in depends there half, the year, with typically lower the in typically expect And the in that on which -- rate in period.

David Wichmann

you, Thank Sarah. Great.

Operator

Goldman Tanal to next We'll Sachs. Steve go with

Stephen Tanal

in mute the business. your you impact there. maybe age better on enrollment, then as was on of tell Advantage. in Medicare And hoping the as rate guys Sarah's about how follow-up a if And understand the the Medicare of aging do see just expected book with ? wondered average an the CMS your at are XXXX or what effect annually; in you up overall build commercial kind the well of quick yields rates, thinking you us I the to of growth commercial related book; existing I ongoing an MA average coding to the number? aging, expect of trend could and of age percent

David Wichmann

Brian, Medicare the -- additional on And think what we'll to have would are into that comments if I growth collectively, if [indiscernible]. then growth also, in organize rise in Well, fine, on have that giving Medicare. the you drivers be rate, the you

Brian Thompson

Steve. big Maybe Sure. retention the Thanks been still Medicare well, know, last have book. book. really Advantage question, a Thompson growth We you shown and playing a growth, stability here. shift to there, -- obviously really Brian a that underlying has we mix, course start role really as in very demographics of our haven't seen real growth. so the our our really tremendous I'll four over We've that years. with strong of we for stable view big the of enabled in our And in terms

have signaled in long-term forward, a around X%. growth expect we we rate look As we Medicare Advantage

I expect ebb still within flow mildly. that look think and would to it XXXX and probably range. that'll I

past know, over meaningfully four gained we've course and the the you As against of outperformed share years, that. that

rates. the You rating of being rate to made I buildup. pretty inside componentry like break growth down the mention the around don't strong these

some and years, though, being years. all in rate than think to them of related with broad XXXX, statements for historically; prior I you know, in we've supported look suggested the been context, has to playing as some the which again, into strong need that's growth growth it of I things that prior at think you was several an underfunding stronger rate, of And strength. the

And their for fee-for-service specifically some incentive et relate changes payment cetera to that Medicare. CMS MACRA program

really in growth So anything forward gleaned nothing really for to cost that us. be -- trend would we're seeing with that that to respect rate

outlook about optimistic record-setting year-over-year. profiles, stable by really that margin again large strong, the retention and again, very we've aided seen part in really our So own in our of terms book

David Wichmann

expect the Medicare offerings continued our individual product by Advantage supported well distinctive capacities we'd market growth broadly in as as serve create both the lines, So and to seniors.

Operator

Fargo. we'll with And Peter Wells to go Costa next

Peter Costa

much and presence that up Jumping businesses, Shield seeing little and can increasing geographic even Blue talk competitors many as Cross the plans? their expansion the about Advantage, Advantage You're Aetna Medicare you not-for-profit trend such going Anthem seeing Blue we're bit on the from of as see you're Medicare much tougher people from players to if correct, at environment are And that from projections the a growing plans. concerned all, on than environment, given are the expect XXXX at more current point well a this offering time? pricing cost in in you CVS Medicare as Advantage more

David Wichmann

Brian?

Brian Thompson

competitive. Thanks question, very for has From marketplace this vantage our always been point, the Peter.

it's industry have, more more offers optimism about For ushering the optimism really dynamics; the and really less value competitive Medicare we me, about seniors wide. of the newfound really into Advantage

in continues enablers previously, set to see XX of we X the I path, We as market mentioned funding are over next said, regard. believe As underpenetrated. we Medicare It's over and Advantage in today. we the the that be XX% severely years. And this XXXX that see policies to XX% to a

great and seniors broad-based and stability; it; at we industry are and it's benefit program So the really expect for in good, both about large. and position the think optimistic popularity our very

David Wichmann

for you Peter. Thank question, the

Operator

to Josh with We'll Nephron next go Raskin Research.

Joshua Raskin

I wanted that value-based towards little the years; and of few in all that physician and in juxtapose of you attachment on retail specifically doing that of XX% right, about points, making the the be of comments kind to and working with population will bit guys around this sort movement talk MedExpress there you're about are the that care were some of with. a then work a you groups and

get that OptumCare to what wanted How work and does understand. coordinated, care just we huge this more How then together? the in have physicians; also value-based do more in I So growth center, tends or care what docket to little with at retail like primary more episodic connection settings to for be bit look a and care care a fragmented nursing the less example?

David Wichmann

that continues you In the more unique hand, lower-cost deeply more for this -- we've needs the performance-based and next refine. -- for couple that as well of growth aimed think macro we you've more consumer's have experienced UnitedHealthcare, you individual past And could are decade the the towards the consumers, one that the respond working categories With will, they've that or benefits. Thanks been I'll needs. that as we as on Andrew accessing time now years. as that technology-enabled, but the at few to laid look a some high-quality, seen the question, of the individual see so. the to strategy OptumCare one Josh. And consumer-centric benefits broadly, I if see advancing of well-informed profile growth few networks of about other talk course of X other at out clearly at that fuels, it's that are consumer-centric benefit over develop the Hayek forward, for course core to and over least trends they These the hand. particular we are on really X expect care provide the very satisfies

strategy And that to build front. we've see far. we evolution several so we've in pretty OptumCare, the that and so bold invested some on broadly Obviously, steps that markets also taken that's out across

OptumCare higher as satisfaction, in those of Andrew, and headed? greater quality business. we're on our opportunity clearly that objectives well, a have overall, more patient go we're lower we environment strong an to and providing advance in a to practice ways comments costs, while stages We to early of and X see but development levels where yet for doctors

Andrew Hayek

the question. Thanks, And appreciate Josh, Dave.

and the a health interplay I OptumCare think care consumer-centric tight our system evolution the platform. there's between of

a comments. couple So

models consumer-centric And total data be through you this promote capabilities and Optum health so HEDIS to and XX. transition high-value results in really in improve the NPS Net to experience. XX Promoter And MedExpress care breadth approach consumer-centric the we're of cost medicine Scores, and and consumer very, OptumCare evidence-based medical In to script. of SCA our a measures; improve the powerful earnings it within of of consumer country of delivery and terms organization to are markets. our enabling more plays the and very value-oriented as As technology cost we're with that ambition And they're ambulatory know, to scores an positioned deploying similar around through strong care, into then right of quality, leverage experience. the reducing advanced range, the sites, more experience leading the and averaging care depth a to stars; your group And the total world. and was serve shared course, in point, care

experience in experience care cost. that we're the with very that's and centers front consumer-centric tight of evidenced care right consumer-centric to ecosystem, in centers, MedExpress, value-oriented there's are door, the OptumCare And high and NPS. driving health including neighborhood interplay really a a medical SCA that very the complementary their front to providers, and by a then ties access care our terms very that able surgery door similarly groups; total MedExpress patients -- In help manner quality to through value-based

together other good we where about and to the UHG we ambitions serve. the nicely and really these the So the of in want country think we components really feel payers fit communities in go, impact leading

David Wichmann

America, delivery the tightly. on broadly are South broadly very think we'll where on same these as speaking, are so are very in working States. advanced we here being these network-based as care evolve see just we're we positive countries more system as some that designs features Josh, we deployed take and you. United are well those designs which X of the Brazil, same utilizing type as -- with well. American returns well, a care. in in And the is globally can early South this starting the Thank see trend And And We're of the other our others accessing right

Operator

Gary with we'll Taylor JPMorgan. go And to next

Gary Taylor

Just a quick two-parter.

we The first cost goods look is of sold. when at

four been first quarter. in that's time years, First in the year-over-year down

specific much Banmédica might Just annual there. then the acquisition? EPS the any to related of secondly, wondering color if how raise there's And be

David Wichmann

cost talk Wicks Rex of Tim sold. can have Banmédica. to the We'll goods And John talk

Timothy Wicks

technology substantially and accounting automation COGS improve some operating really Great. Rx in for perspective, Gary, active productivity to the and at we've are on and continue also same couple is there operating supply that in change so Tim be there, aiming get are NPS be around likely home will and The at around I a operating that's the things. to invest chain, for delivery just particularly most of efficiency Wicks. And costs specialty to the clients. our an continued into Obviously, improved question. from we've our year-over-year pretty leverage Thanks really but COGS. those the focusing And classified think, time. serving clients, specifically various continued key, and really for in in while

And so that's really the driver year-over-year.

John Rex

here. Rex John Gary,

on -- So on is an earnings, annual for basis neutral. GAAP and Banmédica

EPS, adjusted And it's amortization equation. a impacts the the into $X.XX share. Banmédica For coming that's of

David Wichmann

will in back Then actually Banmédica period. QX, time QX. it'll be come QX and be a that in QX, bit into reminder, this a dilutive as winter here going during out so just it'll And little

Operator

Crédit Rice We'll go with next A.J. Suisse. to

A.J. Rice

ask about Maybe broadly I'll just capital deployment.

debt-to-cap. You're XX% bouncing around now around

little of your business. a expectation quarter, for $X capital $X.XX you the your you you flow set that the above. priorities seems cash that's that's stepped portion were set the This that know then then so to of billion across Obviously quarter? like there up quarter. that a with confirm the from a to investments want just $X I -- sometimes a -- quarter, forward the for last you're go billion that billion you low. probably business. It bought, out in reinvest you. impact Last Does year big does you And if laid in to full point. I And good little buyback

business? sometimes, you whatever priorities And know highlighted of investments in those you of the I some are on, have certain getting there above-average that If highlight Optum can or guys going investments. of are back areas

David Wichmann

Rex? John Sure.

John Rex

Sure.

capital Let me questions A.J. start couple with here, of the

from So ratio still expect on long-term zone. change committed we'll view debt-to-cap to that zone, in here, in that so XX% that we're be be XX% our no to that

far We over the of good in even we've were discussed things end terms things amount that the we're of I of given of it, the a the still that will other to the year our you activity conditions, kind able debt-to-total quarter, of market billion to still coming repurchase into $X said, to full as with course tracking you're billion, terms accomplish see our highly in of the $X capital the And continue ratio correct. but zone should the thus year. in year outlook still $X.XX the to In committed but to XQ objective. billion; in expect mix to share we

the Dave the has it's no terms in of in I mean we're capital want we been It's... that I shift. elements terms the allocation, In of to there. terms with types has Dave that the And consistent wouldn't putting tell I make articulated laid there a kind out. where shifts of really think big in say capital, it's very so elements would of but investments big the you of I company the

David Wichmann

interest we've making strong broadly. to significantly care as believe of investment platforms Obviously delivery. our we A.J., business. we're health that we have aid in a can before, in performance systems significant lot services there indicated a continuing a the build So There's of

capital on allocated innovation pretty to we number Difficulty] technology that. well-suited a we into as Optum also partnering pace in Ventures, been we organizations have are with that Group. UnitedHealth consistent smaller, are We a [Technical And growing really to to respect the open-source of with investing see

place add still be categories. and business. this measured invested where Thank in you to can be we year, our of would but global you. looking I'd deployers of to of capability those investments a market us strong So recognizing in Obviously are we're across And sheet. very we balance to Banmédica XX -- couple very presence still want we that a a is January to maintain very so capital, that just making expect strong suggest you and

Operator

Zack to next the with Stanley. go Sopcak We'll Morgan

Zachary Sopcak

the when ratio. think or surprises and, flu just I I interplay everything about medical if you on of in wanted flu the care any to guess, quantify could ask, quarter, else, the impact your relative were -- And to the between mix the expectations? you there

David Wichmann

think flu Zack, to I it was a little that about right? the hear but impact Is care you, ratio. on the medical were you asking hard the of

Zachary Sopcak

everything Yes, quarter in else. the and versus that

David Wichmann

Rex why John we that? don't Okay, take have

John Rex

Yes, Zack.

in out So points. a basis the be on few that, things that the influenza MCR point about And would XX just impact of like though. quarter, on I'd to

do can So and year. I through we about to you for we diversified control we the that do same health referenced actives and think provide flu businesses. one the appropriately. way in our That's just given the our And -- we this, best is that's our think any it, And factor should can Dave care increasingly we're what what patients manage as occur time, and that often good expect does and in here. costs at

Some that, low relatively utilization. the growing experience for hemisphere, where quarter presence the And of that's benefits of small we southern of height this summer. first the also seasonally have is but in the southern hemisphere

first delivery In very addition, another in had care domestic a quarter, a which payer. the balancing is our quarter, factor businesses growing busy

impact. them the in but sure, compare be So are is when you businesses to to it businesses, having scope domestic help these modest

should deliver that you solely balanced health and you you increasingly and insurer, care overcome rather us that broad-based quarter. continue to those factors growth a as And should saw consistent so the -- an see, this than in work, company, expect to

David Wichmann

It's value being spend and discussing in to the diversified this have them headwinds of of a are a business lot venue. to that able overcome I what time

Operator

with And we'll Ana go to next Gupte Partners. Leerink

Anagha Gupte

strategy how also care, on how like. your systems the more relationships Optum; making both Larry and hospitals urgent and with care and you're dovetails and I and you the UHC on Renfro health across some the dovetails systems, [indiscernible] was of that give progress us and update with appointment could with as things that health in OptumCare investing based are intensive the then like ambulatory ASCs hoping

David Wichmann

fourth I'm sorry, your Ana. question. the of missed We part

-- a You around time if think, critical if so a context, handset, pick up cut you're out can at, I you can on you please. your handset,

Anagha Gupte

Yes.

Sorry that question in dovetailing and Renfro's and OptumInsight care, intensive across on basis, [Indiscernible] then with Optum? And across on UHC dovetails Optum. ABCO that investing systems more with and relationships as also, -- is around how about into change OptumCare and based are contracts and urgent UHC it health ASCs accelerated like, how seems care, was that. a Larry and your

David Wichmann

Thank you very much.

got time. that we it think I

can start -- ABCO address Eric there's maybe with So relationship, The that. X Murphy there. we'll elements

I his transition. think about I as base Larry -- and asked address Renfro And then on himself. as can touched well that, Andrew you ASCs. the

Eric Murphy

Yes.

market as with we've provider We Board with in fully to relative consulting integrated and We've of expectations OptumInsight. and the very go-to-market business, been our the organization our in progress and integration our pleased expansion are second favorable services line Advisory life teams provider a with making and we're across QX. also the of both this We're then receptivity quarter in research payer the in year business result, market and pipeline market sciences our seeing the business. development launching within our

that we're together So organization the pleased we're OptumInsight. with making progress put Advisory as with the very Board we

David Wichmann

front transition the Larry the maybe to the and history I think at on that. much for which going time. has probably of the UnitedHealth very as would long courageous will over say, stretch occur then towards more here Renfro relates the this to enthusiastic in strong formidable of most very Optum, second on X He's a We're be us the the year, about organization. Group I And very Optum is a leader to stretch Ventures had years. middle He with it course that XX-year super organization's last focused of broadly a

script leadership leadership, that If this of discussed the a you of those under today, think to, lot Larry's been and the the Optum about team. things obviously from where broadly in we've we are the

tell exceptionally now is can Optum that performing right well. and You pretty in strong is probably also position

we're the to we broadly also underscore due period be Group the ventures? transitions. us expect need or is which which expertise at business But UHG on kinds continue continue the very grow our road really around to Now to advance the balance He's as across to innovation, it's joining intensity area to, seen and that have and our make I around the how always our has, years going these he going around. broadly the of year in to look continuing that of an some to in and [indiscernible] you not our to perform well business. UnitedHealth important going focused upon anywhere. also is Optum on down throughout Optum maybe He's prosper part run relationship XX that but time to but do helping to time, in enterprises; He I which relationships is be model really venture-based and me particularly to anything we focus over Larry's add these and this to leadership. X, And open-source we to would obviously where Larry, investments competencies in focusing organization. want of of develop you've to

Larry Renfro

a Sure. is July as is the points. business Maybe Ana, couple off it's don't up think Today, so hit anyone take it X, their going eye of until that Larry. usual, I'll to ball.

to we're new use I as to going it develop that's a going how is how process relationships. we're and that relationships them to to do today programs through work continue of well that going today we relationships for how as different work as larger going So enterprise mean for and together putting also we have with accounts absolutely business We're to and usual. a existing program

extremely developing back ventures And in has at So into a start. well of health off analytics strong, you overall would December, type about, as care quite that Dave health situations program the at machine -- are we've We're a started investor ventures. be and it's venture enterprise guess, care so health care, to and yes, around learning And It well as We effort been data, about as with system. consumer the overwhelming few overall a forth. said, being announced the digital a -- just the will number together all number side. as the as of whether think and tremendous as looking areas with there's companies companies of the also response on we're and November, well AI, would is so conference. big pipeline an with solid into I groups, the as a put go

an We'll programs relationships get as I -- a but didn't strengthening gets putting in really I that that about So We're to in but for when to have of allow and together. talking just a move think with we're some running of new -- minutes kick we're even few July, in right terms these the growth initiatives I'll ago, a engine us of well, say or create here, to Andrew we'll more up talk Andrew Optum. about a we're expanded a of here. really it'll chance forward in today now talking

to we're forward looking it. So

David Wichmann

Larry. Thank Great. you,

more to callers the today, interests and a Hopefully, been X our -- take morning you answers We have here that we'll most long found the got so of pretty questions. are for running the fulsome this little today.

Operator

Ralph And we'll to Giacobbe Citi. go with

Ralph Giacobbe

more and sort can around with of you outspoken the all seeing claims of on It sort a disputes that through. side. more been you sort of as maybe cost by at reining broader, this certain contract out out-of-network what specifically egregious in And sort come today seems practices stalemates I coming more like question if past, whether terms on the providers in if on providers of more though, sort in savings of can medical calling and of the of see you you've achieve you're against frame some than is bit and pricing practices. more you've up little guess of late maybe estimate

David Wichmann

Executive We'll have of take our UnitedHealthcare, Nelson, Chief Steve that.

Steven Nelson

seeing making and that to to lot And into with specific the I coming get morning behalf also relative So about it's about it's members conversations system. and we're for we've talk drive in had we about our it's it's ask well. value affordability. it's we're and lot the but broad that experience, relationships we've based, this not actually how morning just you with both serve. conversations Dan I'll the progress also partnerships we're we on talked little how on we're question. the as to But just a value delivery and you Ralph, delivery the of Schumacher as system advancing there. And might conversations, this value obviously our talked to but the a outcomes going through, OptumCare the trying there And thank a holistic of tell

Dan Schumacher

to managing value-based to And first, we've question specific so several your last Thanks, increase amount principal towards there's is spend our a efforts years there. to undertaking that to value-based that along we've of of towards all then as drive making total down nice reality contracts; several network, of of able out Sure. progress that's population. health spend been over to actually secondly importantly, drive the of care and looking of so Steve. continuum, spend a percentage an migrating two overall health Ralph, on parts and been under for that system. the risk the And part years, the the that,

or constructs. year surgical right to billion we've now our spend value-based $XX about medical of amount, the earlier of our expected On nearly a at health so population. billion got now been half and a very we by in that destination, we've That's our had the managing also arrive $XX set towards that incentives in successful then migrating towards we've sights XXXX. And

was moved about that relationships. years that. those value-based we've ago, in five spend progressive more of XX% So

to more commonly rates, tracked So continue on that admission Steve we'll as use, use, And preventative lower outcomes up lines care higher push results half We all lower and nice some today, we've to see across screening, driven things as we've business. very forward better-quality the lower of three that. about migrated primary of rates, ER mentioned, most like readmission on in-patients' metrics.

at very results. practices a better they strong These with rate. start some So a baseline, and better then trend

In these terms somewhere on of X% the than range X% year that basis to folks are in that, relationships. better in outside sizing trend of the year a and out,

care with that value-based will we seek around to partner system. continue driving truly health So a our people to share vision

David Wichmann

Ralph. you, Thank

Operator

Bernstein. And we'll question with final Sanford take Lance Wilkes from our

Lance Wilkes

couple progress strategic on question a in you're quick areas. making of Real these

your first online the of The getting to risk the and interested able I'm transition aspect in And pharmacy. making the of sort just investments in penetration in are and guys. then what I'm your you're to much at practices mail opportunity out pharmacy which as OptumCare. mail interested where on are for other enhancing space what to guys capabilities, see is to M&A one over you just potential physician how pace rates at this related you risk. is for you're the penetration you online

David Wichmann

Lance. you, Thank

Hayek then of we'll the with question we'll as transition start on pace So cover OptumCare, Andrew pharmacy out the and in well.

Andrew Hayek

of tend and and plans pleased migrate we risk, compensation practice, That's question. in construct, us. the That sometimes OptumCare, compensation, payers of who the traditional senior results marketplace, couple their across the shift country, fee We we're their better the see. we in and our we It's programs, on and shift work a tend serve with further payers clinical fee-for-service get areas; These orientation, And in broad to depends of focus that a collaborative great a Again, we want drive get. clinical better few those encompasses deep to really a changes. can That programs, broad-based point, care. partner with value We're to more kind obviously transition years, in with culture. starting really the culture. medical make we to orientation. value changes deep be groups pretty it with that we're markets Advantage the starting the obviously, in to it to to very multiple value. embrace appreciate longer. with partnering And choose value. into transition towards Lance, value, their arrangements the Medicare talking are then where We're change. progress. with are Dave. about and them that results area also value-oriented And they on to but transition they current pleased with fee-for-service how the many into get the Thanks, With then partner we why especially involves inevitably a

risk. earlier, those lower in We and quality we see then terms we Promoter HEDIS. further trends. accelerate stars see Scores, and Net cost outstanding into get As And indicated we medical outstanding results the Dan of see

David Wichmann

Then Great. John Prince.

John Prince

Lance, John Prince.

a little online talk about pharmacy. Let's

Let's three maybe broad cover points on it.

a [indiscernible] strength. all First Clinical is quality. customer of

quality look higher is any you So get other your the can when at venue the medication. pharmacy, online you than much

quickly NPS, higher And Score. our drive medication most every But our dramatically really effectiveness second, can if last changed you investment turnaround we to and experience? to quarter the around a experience. significantly drug. Promoter experience we've online it's the look quickly What also we terms in get at What How when one you where about Net doorstep? metrics the to The important That's how we and their do clinical much that delivery in able experiences specialty. at a better online time? of third is sell our in how do investing is And think in be years consumer few adherence, have look experience. is our probably the home investing and outcomes how been the in

platform our redid we So digital last year.

great made improvement so Score in we've the few a our relevant XX-point invest We've speed our pleased of about our online app, Promoter I'm a over a Net We seen of continue to really experience. experience. last progress. in the years, lot

around a XX% we're there. our that's where Still in our market. of results where so filled and getting industry because over We've years home the more made has investing the moving move the And winning our we're we're acceleration of higher can in You've do are in infusion, I there's but opportunity. taken tremendous significant home specialties potential. greater actually volume our that. The really and seen setting. centers, these area retail last rate, and more investing in I not lot both into experience area, in regions in increased that delivery in delivery just over, experience, investment We're is We're the specialty retail same capture few And day. think we online prescriptions the combined our see this an to a that. the also

all which So pieces fit performance. online create all together experience, of will accelerate consumer continue our to these to greater a

David Wichmann

Optum forward for be care earnings Thank you, more and providers share. the consumers John. you quarter, the best to operating deliver to best getting and is augmentation our nice sum performance of and to per at prepared solid, strong responses we've our to the for the remarks overall And X.X today. on distinctive Again margins our question, not delivering clients million had UnitedHealthcare UnitedHealth that But Hopefully, the sites earnings. XXXX thank a affordably. I apologize than for with report. entered and today. Group people raised again Lance. well-balanced and the adjusted more up continued momentum, and ever revenues, before, driving that for growth, view, fulsome in our care for everybody you Based we our business getting once serving outlook And higher release found first to serving you growth.

you. for to care will We people to person continue one serve and improve Thank health the of one health we work the and quality value its system time. a at

Operator

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

great a disconnect. Have now may You day.

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