The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: John Raskin - Nephron Research - Analyst
: I guess how much of the guidance revision in this sort of execution imperatives that you're talking about are around external trend pressures? And
how much of it is related to the commentary around to better organize the enterprise and really understand what's going on internally?
Question: Lisa Gill - JPMorgan Chase & Co - Analyst
: John, I'm wondering if you could help us to maybe just quantify the difference between what you said last quarter and now you put it into three
buckets, but --
Question: A.J. Rice - UBS - Analyst
: Just maybe trying to get John to expand a little bit on what he's calling out this broadening out of some of the excess utilization and other things
you're seeing. Is that still largely confined to Medicare Advantage? Or are you seeing this in Medicaid and commercial? And maybe just a little more
description of exactly what you're seeing? Is this more on the outpatient side as it's been so far? Or is it broadening out in other areas? How is it
impacting you?
Question: Justin Lake - Wolfe Research - Analyst
: Wanted to see if given you're just about to put in your bids, I know you pulled guidance, but can you give us an idea of where trend is or maybe
where Medicare Advantage margins are in your mind right now versus where you're going to kind of bid to? And do you think you can get back
to your target margins in one bidding cycle given where you are right now? Or is it going to take multiple?
Question: Lisa Gill - JPMorgan Chase & Co - Analyst
: I'm going to try this again. I think my first question was asked and answered, John. But just curious, as we think about Optum and some of what
you saw last quarter. Can you maybe talk about the trends there and what you're working on to maybe perhaps turn that around as we move into
'26?
Question: Stephen Baxter - Wells Fargo Securities - Analyst
: Just to follow up a little bit on the Optum Health discussion. I just want to be very clear. In terms of the incremental pressure that you're talking
about today, is this an entirely medical cost trend phenomenon? So essentially, Optum Health trajectory beyond the flow-through of medical cost
trend into Optum Health is unimpacted. And then just would love to just get any initial thoughts you can provide. Obviously, you're coming back
to this potentially with a different perspective.
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MAY 13, 2025 / 12:00PM, UNH.N - UnitedHealth Group Inc Investor Call
What does the Optum Health business look like upon finalization of V28 in the risk-adjustment model? Do you still think that the margin targets
and the growth outlook for that business are intact? Or do we need to think about that differently going forward?
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