CLAIM #58655 · UnitedHealth Group Incorporated (UNH) · 2023Q3 earnings call · Oct 13, 2023 · due Dec 31, 2024
“Having said that, we would no reason not to expect a continued healthy momentum in our move toward value-based care next year with continued high expectations for our ability to deliver that.”
Andrew Witty · CEO
In context
“thanks so much for the question. Next question? Operator: Yes, we'll go next to Josh Raskin with Nephron Research. Josh Raskin: Hi, thanks. Good morning. Understanding that you expect Medicare Advantage to grow at a healthy pace, I think you said above market again in 2024. Could you speak to that progress expected at OptumHealth? I know we'll get details at the Investor Day, but how are you thinking about the transition of patients from sort of fee for service to these fully risk engagements and then maybe general levels of investment for growth in light of the risk model and reimbursement model changes? Andrew Witty: So Josh, thanks so much for the question. I mean, obviously we'll leave very much the detail of the elements of the growth model for when we meet with you all in November. Having said that, we would no reason not to expect a continued healthy momentum in our move toward value-based care next year with continued high expectations for our ability to deliver that. To your broader question, maybe just reflect a little bit again on 2023. So this has been a year which essentially has been obviously very heavily influenced by the change in the funding environment that was announced earlier in the year for Medicare Advantage. And we're very appreciative of the three-year phasing of the changes, which CMS ultimately decided to make. But obviously, those changes are essentially the equivalent to a price cut phased in over three years for the Medicare Advantage program. We are appreciative of the fact that we have had essentially seven, eight, nine months warning of that in terms of when that was announced before we go into the ‘24 year. And that’s allowed us and we have taken full advantage of it to really focus on how we ready ourselves, not just for 202”
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SEC filings for UNH ↗ · Claim quote is verbatim from the 2023Q3 earnings call.