CLAIM #58602 · UnitedHealth Group Incorporated (UNH) · 2023Q1 earnings call · Apr 14, 2023 · due Dec 31, 2023
“For example, in commercial, we set out to serve up to 1 million more people this year and are pacing well to that objective given our first quarter performance.”
John Rex · CFO
In context
“of Change Healthcare. As we have discussed before, in the first half, we expect to continue to increase our integration and investment activities, which were a component in the first quarter results, and we expect they will accelerate into the second quarter. OptumRx revenues grew 15%, surpassing $27 billion, driven by strong double-digit growth across the businesses, including in our community and home delivery pharmacies. Script growth of $26 million over last year was driven by exceptional customer retention as well as new customer adds. We continue to see strong growth in NPS for our specialty businesses, up nearly 10 points since last year. At UnitedHealthcare, revenues of over $70 billion grew 13% with growth in the number of people served across all of our major benefit categories. For example, in commercial, we set out to serve up to 1 million more people this year and are pacing well to that objective given our first quarter performance. Offerings for large employers led the gains as did our newer and more affordable offerings serving both employers and individuals. Within Medicare Advantage, we shared with you in November our intention to add 800,000 to 900,000 new members in this year, and we now expect to exceed the upper end of that rate. The consistent consumer receptivity to our offerings underscores the product stability and value we provide for seniors. Medicaid membership grew 570,000 over the year ago quarter. We continue to have momentum in Medicaid with recent wins in Indiana and Texas, and we are honored to advance our existing service to the people of North Carolina as the state moves towards expanding managed Medicaid offerings. Our capital capacities remain strong. Cash flows from operations in the quarter”
Verify independently
SEC filings for UNH ↗ · Claim quote is verbatim from the 2023Q1 earnings call.