“Those combinations, we think, mitigates fifty percent of the headwind of V28 as you heard, we sized at $4 billion for next year.”

In context

“the outside plans that OptumHealth contracts. I mean, are you seeing them make same similar steps toward pricing for a more reasonable margin next year that you're trying to do at UHC? It certainly does, AJ. Patrick, do you wanna comment? Patrick Conway: Yeah. Thanks, AJ, for the question. Let me take the sort of pieces in parts. So yes, in terms of the pricing across payers, UnitedHealthcare and other payers, as they adjust price that flows into our capitation rates. That is a tailwind. Where versus the headwind we saw this year. We're also working with our payer partners on benefit reductions, which we talked about. So significant benefit reductions across payer partners and a much tighter, transparent, bidirectional dialogue in this year, which I think sets us up better for next year. Those combinations, we think, mitigates fifty percent of the headwind of V28 as you heard, we sized at $4 billion for next year. The other two components that will mitigate the other fifty percent one, operating cost reductions where we continue to hone our model using AI and other tools generating operating cost reductions. And then next, you know, deep engagement with the patient cohorts we see. So as you heard, as we mature and remain stable in those we believe we can maintain those margins at the one percent level. The approach this year with our payers has been tight. Close, and I think will bear benefits going into 2026. Stephen Hensley: Thank you, Pat. Next question. Operator: Our next question comes from Justin Lake with Wolfe Research. Justin Lake: Thanks. Good morning. Appreciate all the detail. Wanted to focus on the run rate out of 2025 into 2026. So it looks like you're about five dollars of earnings f”