CLAIM #58631 · UnitedHealth Group Incorporated (UNH) · 2023Q2 earnings call · Jul 14, 2023 · due Dec 31, 2024
“We do expect to see margins continue to strengthen, particularly as you roll through into ‘24.”
Andrew Witty · CEO
In context
“s something you can get back to next year or just a multi-year thing depending on how others price? Are the leverage within your control or is this kind of a longer-term normalization? Thanks. Andrew Witty: Hey, Kevin, thanks so much for the question. So first off, as I mentioned earlier, the pressure is really coming from those three sources, the senior trend phenomenon that we talked a lot about, the very specific Optum piece around behavioral and then the growth in the book. And within that, very much to complex care patient, which, as I'm going to repeat again, is an extremely positive element of our growth going forward. That's going to be an extraordinarily important foundation stone for the future of the company. We're going to continue to lean into that growth, first and foremost. We do expect to see margins continue to strengthen, particularly as you roll through into ‘24. You're absolutely right. We believe we've caught this in our pricing for next year. But more importantly, the longer time we have to look after folks and wrap around care, we can deliver much better outcomes for them, as we talked about earlier and we can also make the economic proposition better. It really builds much more sustainable capability. So all of that will kick in, as well as we roll through subsequent quarters and years. This is going to be a continuing building pressure. I feel very good about that range we've laid out for OptumHealth over the next several years. And actually, I think if I had the choice on a slightly suppressed margin in Q2 or the very significant growth that we've taken in. I'll take the growth all day long. And I'll take that growth, because it's going to”
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SEC filings for UNH ↗ · Claim quote is verbatim from the 2023Q2 earnings call.