儘管網路攻擊造成業務中斷,聯合健康集團 (UnitedHealth Group) 公佈了強勁的第二季業績,營收成長近 140 億美元。該公司確認了全年調整後的獲利前景,並專注於為患者和消費者提供價值。他們的目標是減少醫療保健系統的分散性,改善護理人員、付款人和藥房之間的協調,並投資於技術和創新。
儘管面臨挑戰,該公司對其多元化業務仍充滿信心,並致力於實現長期成長目標。他們正在部署人工智慧用例來簡化流程並改善結果,並專注於成本管理、效率和技術創新。
該公司對他們應對挑戰和推動業務復甦的能力充滿信心,重點是為患者提供最有價值的護理。
使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主
Operator
Operator
Good morning, and welcome to the UnitedHealth Group second quarter 2024 earnings conference call. A question-and-answer session will follow UnitedHealth's prepared remarks. As a reminder, this call is being recorded. Here are some important introductory information, this call contains forward-looking statements under US federal securities laws. These statements are subject to risks and uncertainties that could cause actual results to differ materially from historical experience or present expectations.
早安,歡迎參加聯合健康集團 2024 年第二季財報電話會議。聯合健康保險準備發言後將舉行問答環節。提醒一下,此通話正在錄音。以下是一些重要的介紹性訊息,本次電話會議包含美國聯邦證券法規定的前瞻性陳述。這些陳述存在風險和不確定性,可能導致實際結果與歷史經驗或當前預期有重大差異。
These can be found in the reports that we filed with the Securities and Exchange Commission, including the cautionary statements included in our current and periodic filings. This call will also reference non-GAAP amounts. A reconciliation of the non-GAAP to GAAP amounts is available on the Financial and Earnings Report section of the company's Investor Relations page at www.unitedhealthgroup.com. Information presented on this call is contained in the earnings release we issued this morning and in our Form 8-K dated July 16, 2024, which may be accessed from the Investor Relations page of the company's website.
這些可以在我們向美國證券交易委員會提交的報告中找到,包括我們目前和定期提交的文件中包含的警告聲明。此次電話會議也將參考非公認會計原則金額。非 GAAP 與 GAAP 金額的調整表可在公司投資者關係頁面 www.unitedhealthgroup.com 的財務和收益報告部分找到。本次電話會議中提供的資訊包含在我們今天早上發布的收益報告和日期為 2024 年 7 月 16 日的 8-K 表格中,您可以從公司網站的投資者關係頁面訪問該表格。
I will now turn the conference over to the Chief Executive Officer of UnitedHealth Group, Andrew Witty.
我現在將會議交給聯合健康集團執行長安德魯威蒂 (Andrew Witty)。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Thank you, Jennifer, and good morning, and thank you for joining us. The second quarter results we reported today reflect diversified and durable growth and a commitment to ensuring high-quality care is available to every person we're privileged to serve. In the first half of the year, revenues grew by nearly $14 billion, with strong contributions from across the enterprise, led by double-digit growth to Optum. UnitedHealth Group entered the second half of the year with continuing a broad-based growth momentum.
謝謝你,詹妮弗,早安,謝謝你加入我們。我們今天報告的第二季業績反映了多元化和持久的成長,以及確保我們有幸服務的每個人都能獲得高品質照護的承諾。今年上半年,營收成長了近 140 億美元,整個企業的貢獻強勁,其中 Optum 實現了兩位數成長。進入下半年,聯合健康集團繼續保持廣泛的成長動能。
As a result, we are affirming our full year adjusted earnings outlook, even as we absorb $0.60 to $0.70 per share in business disruption impacts related to the cyber-attack. These results come from the sustained focus of the 400,000 people of UnitedHealth Group on adding value for patients, consumers and customers through the fundamental execution of our key priorities. We're also well positioned for growth in 2025.
因此,我們確認了全年調整後的獲利前景,儘管我們吸收了每股 0.60 至 0.70 美元的與網路攻擊相關的業務中斷影響。這些成果源自於聯合健康集團 40 萬名員工持續專注於透過執行我們的關鍵優先事項為患者、消費者和客戶增加價值。我們也為 2025 年的成長做好了充分準備。
In the selling season to date, the most sophisticated thoughtful buyers of health benefits and services in the US, such as large employers, unions, state seniors all continue to choose the offerings of UnitedHealth Group when they're looking for Managed Care Pharmacy Services or Medicare Advantage plan that provides the best value. This consistent growth reflects customers' recognition of the need for a company like ours. As you know, UnitedHealth Group strives to help reduce the fragmentation and lack of coordination that drives up costs and erodes care outcomes in the $5 trillion US healthcare marketplace.
在迄今為止的銷售季節,美國最成熟、最周到的健康福利和服務買家,例如大型雇主、工會、州老年人,在尋找管理式醫療藥房服務或提供最佳價值的 Medicare Advantage 計劃。這種持續成長反映了客戶對像我們這樣的公司的需求的認可。如您所知,聯合健康集團致力於幫助減少 5 兆美元的美國醫療保健市場中的碎片化和缺乏協調,從而推高成本並削弱醫療效果。
We aim to better coordinate and align incentives among caregivers, payers and pharmacy, enabling us to focus on the whole patient throughout their health journey. We believe this increases value for customers and consumers, improves people's experience and health, reduces redundancies and waste, and ultimately leads to a more sustainable health system.
我們的目標是更好地協調護理人員、付款人和藥房之間的激勵措施,使我們能夠在患者的整個健康旅程中關注整個患者。我們相信這會增加客戶和消費者的價值,改善人們的體驗和健康,減少冗餘和浪費,最終形成一個更永續的衛生系統。
For example, the proven health and economic value to consumers and taxpayers of Medicare Advantage, a recent study by Milliman found that the cost to taxpayers of Medicare Advantage is 4% less than traditional fee-for-service of Medicare. At the same time, Medicare Advantage provides seniors well over $2,000 per year in additional value through lower out-of-pocket cost and important services like dental, vision and hearing, none of which fee-for-service Medicare covers.
例如,Medicare Advantage 對消費者和納稅人的健康和經濟價值已得到證實,Milliman 最近的一項研究發現,Medicare Advantage 的納稅人成本比傳統的 Medicare 按服務收費低 4%。同時,Medicare Advantage 透過較低的自付費用和牙科、視力和聽力等重要服務,每年為老年人提供超過 2,000 美元的額外價值,而按服務收費的 Medicare 均不涵蓋這些服務。
That means a lot to the majority of the people Medicare Advantage serves, who have limited economic resources and otherwise would lack access to such services. The home visits we offer seniors further illustrate the value of MA. Last year, our medical professionals made more than 2.5 million home visits. As a direct result, our clinicians identified 300,000 seniors with emergent health needs that may otherwise have gone undiagnosed. They connected more than 500,000 seniors to essential resources to help them with unaddressed needs such as food insecurity, medication, affordability, transportation and financial support.
這對 Medicare Advantage 服務的大多數人來說意義重大,他們的經濟資源有限,否則將無法獲得此類服務。我們為老年人提供的家訪進一步說明了 MA 的價值。去年,我們的醫療專業人員進行了超過250萬人次的家訪。直接結果是,我們的臨床醫生發現了 30 萬名有緊急健康需求的老年人,否則這些需求可能無法被診斷出來。他們為超過 50 萬名老年人提供了重要資源,幫助他們解決未滿足的需求,例如糧食不安全、藥物、負擔能力、交通和財務支援。
They also identified and help close more than 3 million gaps in care that made a real difference in people's lives. Within 90 days of one of our home visits, 75% of patients receive follow up in a clinical setting. Additionally, Medicare Advantage patients with chronic conditions who receive these home visits end up with better managed a more stable health outcomes as evidenced by spending measurably less time than fee-for-service patients in emergency room and other hospital settings.
他們還發現並幫助彌補了超過 300 萬個護理缺口,這真正改變了人們的生活。在我們進行一次家訪後的 90 天內,75% 的患者在臨床環境中接受了追蹤。此外,接受這些家訪的 Medicare Advantage 慢性病患者最終會得到更好的管理,獲得更穩定的健康結果,這一點可以從在急診室和其他醫院環境中比付費服務患者花費的時間明顯減少來證明。
The bottom line, our home visit programs help patients live healthier lives and save taxpayers money. It is only Medicare Advantage that makes programs and results like this possible. Similarly, Optum Rx clients continue to appreciate the efforts we make to ensure delivery of the lowest cost drugs in the face of drug companies' sole ability to set prices. They also recognize the importance of the comprehensive pharmacy services we provide to people that's driving our momentum this year and bodes well for 2025.
最重要的是,我們的家訪計劃可以幫助患者過上更健康的生活並節省納稅人的錢。只有 Medicare Advantage 才能使這樣的計劃和結果成為可能。同樣,Optum Rx 客戶繼續讚賞我們在面對製藥公司唯一定價權的情況下確保提供最低成本藥品所做的努力。他們也認識到我們為人們提供的綜合藥房服務的重要性,這些服務推動了我們今年的發展勢頭,並預示著 2025 年的良好前景。
We also continue to bring practical innovation to people through new products and services, and by using new and emerging technologies to improve our own operating efficiency. For example, Surest continues to differentiate itself in the marketplace, which is why more and more customers are offering it to their employees and why the offering continues to grow substantially. Additionally, investments in modernization of legacy technology and new emerging technologies are enabling our consumer-centric advancement of healthcare. For example, our growing AI portfolio of made up of hundreds of practical use cases will generate billions of dollars of efficiencies over the next slide several years.
我們也不斷透過新產品和服務為人們帶來實用創新,並利用新興技術來提高我們自身的營運效率。例如,Surest 繼續在市場中脫穎而出,這就是為什麼越來越多的客戶向員工提供該產品以及該產品持續大幅成長的原因。此外,對傳統技術和新興技術現代化的投資正在推動我們以消費者為中心的醫療保健進步。例如,我們不斷成長的人工智慧產品組合由數百個實際用例組成,將在接下來的幾年內產生數十億美元的效率。
These investments enable us to improve consumer experience, enhance, provide to find and price care capabilities to meet people's needs and improve clinical back-office execution. We expect technology innovation to become an increasingly core driver of our growth over the next two to five years.
這些投資使我們能夠改善消費者體驗,增強、提供、尋找和定價護理能力,以滿足人們的需求並改善臨床後台執行。我們預計,未來兩到五年,技術創新將成為我們成長日益核心的驅動力。
And now I'll turn it over to our President and Chief Financial Officer, John Rex.
現在我將把它交給我們的總裁兼財務長約翰雷克斯。
John F. Rex - President & CFO
John F. Rex - President & CFO
Thank you, Andrew. I'll start this morning by providing context on some of the unique items in the quarter, then I'll follow with perspective on-care activity and general business update.
謝謝你,安德魯。今天早上,我將首先提供本季度一些獨特項目的背景信息,然後我將介紹護理活動的觀點和一般業務更新。
The overarching theme I hope you leave with today is that UnitedHealth Group continues to deliver broadly diversified growth with expanding opportunity, works that positions us for continued strong performance in '25 and beyond. Now to update on Change Healthcare. Our focus has centered on the patients, care providers and customers who rely on us to keep the health from running. Payment and claim flows for most care providers are back to normal, but we know that is not the case for some. So we continue to work with those who are not there yet.
我希望您今天留下的首要主題是聯合健康集團繼續透過不斷擴大的機會實現廣泛多元化的成長,這些工作使我們能夠在 25 年及以後繼續保持強勁的業績。現在更新有關改變醫療保健的資訊。我們的重點是依靠我們來維持健康運作的患者、照護者和客戶。大多數護理提供者的付款和索賠流程已恢復正常,但我們知道某些護理人員的情況並非如此。因此,我們將繼續與那些尚未達到目標的人合作。
UnitedHealth Group has provided more than $9 billion in loans and advanced payments to help providers mitigate the impact of the attack, all at no cost to them. Cyber impacts in the quarter totaled $0.92 per share, and we now estimate the full-year impact between $1.90 to $2.05 per share. But let me break that down a couple of steps further for you. Of the total in the quarter, $0.64 per share were direct costs incurred in restoring the clearinghouse platform and other response efforts. These included higher medical expenses directly stemming from the temporary pause of some care management activities.
聯合健康集團已提供超過 90 億美元的貸款和預付款,以幫助提供者減輕攻擊的影響,而所有這些都不需要他們承擔任何費用。本季的網路影響總計為每股 0.92 美元,我們現在估計全年影響為每股 1.90 美元至 2.05 美元。但讓我為您進一步分解幾個步驟。在本季的總成本中,每股 0.64 美元是恢復票據交換所平台和其他回應工作所產生的直接成本。其中包括因某些護理管理活動暫時暫停而直接導致的更高的醫療費用。
For the full year, we now estimate these direct costs at $1.30 to $1.35 per share. The $0.40 to $0.45 per share increase in this estimate is primarily related to care provider financial support and cost for producing and mailing the consumer notifications that will begin later this month. As a reminder, these direct costs are included in net earnings but are excluded from adjusted earnings per share.
對於全年,我們現在估計這些直接成本為每股 1.30 美元至 1.35 美元。此預估每股增加 0.40 至 0.45 美元,主要與護理提供者的財務支持以及將於本月晚些時候開始製作和郵寄消費者通知的成本有關。提醒一下,這些直接成本包含在淨利潤中,但不包含在調整後每股盈餘中。
The other component affecting our results relates to disruption of the ongoing Change Healthcare business. This largely encompasses the loss of revenues, combined with the cost of keeping these capabilities fully ready to serve. Notably, these effects are not excluded from adjusted earnings. In the second quarter, this impact was $0.28 per share. For the full year, we now estimate the business disruption impacts at $0.60 to $0.70 per share compared to the $0.30 to $0.40 we estimated last quarter.
影響我們績效的另一個因素與正在進行的變革醫療保健業務的中斷有關。這主要包括收入損失,以及維持這些功能完全準備好服務的成本。值得注意的是,這些影響並沒有被排除在調整後的收益之外。第二季度,這一影響為每股 0.28 美元。對於全年,我們現在估計業務中斷影響為每股 0.60 至 0.70 美元,而我們上季度估計為 0.30 至 0.40 美元。
Most of the service functionality is now restored and revenues are rebuilding even as the pacing of this process varies. These important services are now more modern, secure and capable, and continuing to advance rapidly. Our ambition continues to be to return to baseline performance in '25 and to grow strongly from there.
儘管這一過程的節奏有所不同,但大多數服務功能現已恢復,收入正在重建。這些重要的服務現在更加現代化、安全和強大,並且繼續快速發展。我們的目標仍然是恢復到 25 年的基準績效,並在此基礎上強勁成長。
Turning to international. Following the sale last quarter of our much larger Brazil operations, we classified the remaining South American businesses as held for sale. This is a natural step following the Brazil sale. We highly value the relationships we have built with our dedicated colleagues over the last several years and wish them continued success. In a diverse enterprise, with a strong growth record and capabilities such as ours, such portfolio evolutions enable us to keep our focus on the many compelling growth opportunities before us.
轉向國際化。在上個季度出售規模大得多的巴西業務後,我們將剩餘的南美業務歸類為待售業務。這是巴西出售後自然而然的一步。我們高度重視過去幾年與敬業的同事建立的關係,並祝福他們繼續取得成功。在像我們這樣擁有強勁成長記錄和能力的多元化企業中,這種投資組合的演變使我們能夠將注意力集中在擺在我們面前的許多引人注目的成長機會上。
The second quarter include the total of $1.3 billion in South American impacts, the majority of which is non-cash and largely due to foreign currency translation losses accumulated over the years. About $220 million of this stems from a regulatory action in Chile affecting all health plans. You'll see that as a component in the supplemental financial tables we provided this morning. The action relates to industry premium increases dating back to 2020, but as configured will be reflected in consumer premium credits to be issued in future years.
第二季包括南美洲的總計 13 億美元的影響,其中大部分是非現金的,主要是由於多年來累積的外幣換算損失。其中約 2.2 億美元來自智利影響所有衛生計畫的監管行動。您將在我們今天早上提供的補充財務表格中看到這一點。該行動涉及自 2020 年以來的行業保費上漲,但配置將反映在未來幾年發放的消費者保費積分中。
As a result, the entire $220 million was recorded as a reduction to premium revenue in the second quarter, increasing our reported medical care ratio by about 25 basis points. Turning to the second quarter medical care ratio, it was also impacted by about 40 basis points or $290 million due to the suspension of some care management activities after the cyber-attack. That makes for a total of about 65 basis points of non-repeating impacts, including South America.
因此,第二季保費收入減少了 2.2 億美元,使我們報告的醫療保健比率增加了約 25 個基點。至於第二季度的醫療照護比率,由於網路攻擊後部分護理管理活動暫停,該比率也受到約 40 個基點或 2.9 億美元的影響。這使得非重複影響總計約 65 個基點,其中包括南美洲。
Beyond these effects, the care ratio in the quarter was also modestly affected by three other factors. One being member mix within Medicare Advantage and dual special needs plans, which this year has been shaped by the unusual competitive benefit configurations in the marketplace. A second being the timing mismatch between the current health status of remaining Medicaid members and the state rate updates, a timing mismatch we expect to realign in the months ahead. And third, the lingering upshift in provider coding intensity, which we believe was spurred by the temporary suspension of our care review activities and carry pass.
除了這些影響之外,本季的照護比率還受到其他三個因素的輕微影響。其中之一是 Medicare Advantage 和雙重特殊需求計劃中的會員組合,今年的會員組合是由市場上不尋常的競爭性福利配置決定的。第二個是剩餘醫療補助成員當前健康狀況與州費率更新之間的時間不匹配,我們預計這種時間不匹配將在未來幾個月內重新調整。第三,提供者編碼強度持續上升,我們認為這是由於我們的護理審查活動和攜帶通行證的暫時中止所致。
This impact is not reflected in our cyber-attack direct response costs, and we have been addressing it. Nonetheless, we continue to expect our full-year medical care ratio, excluding 30 basis points of cyber and South American effects to be within the range we offered in November, albeit at the upper end.
這種影響並未反映在我們的網路攻擊直接回應成本中,我們一直在解決這個問題。儘管如此,我們仍然預計全年醫療保健比率(不包括 30 個基點的網絡和南美影響)將在我們 11 月提供的範圍內,儘管處於上限。
For our 2025 Medicare Advantage planning process, we assumed care patterns and mix at the levels we are seeing today, in addition to fully incorporating the second of the three-year phase funding cuts. And we have been fully attuned how the inflation Reduction Act will affect Medicare Part D offerings in '25. Also, as noted, we expect the Medicaid timing mismatch to subside as rates are updated throughout the remainder of this year and into next, appropriately reflecting current member health status.
對於我們的 2025 年 Medicare Advantage 規劃流程,除了完全納入三年階段第二階段資金削減之外,我們還假設了我們今天所看到的護理模式和組合。我們已經完全了解通貨膨脹削減法案將如何影響 25 年的 Medicare D 部分產品。此外,如前所述,我們預計醫療補助時間錯配將會消退,因為費率會在今年剩餘時間和明年進行更新,適當反映當前會員的健康狀況。
Turning to the performance of our businesses. At United Healthcare, revenues of $74 billion grew by $3.6 billion. UHC Domestic commercial membership grew 2.3 million in the first half of this year as employers and consumers responded to our distinctive offerings. And while the '25 selling season is ongoing, we are encouraged by the continued momentum we see. Our recently filed Medicare Advantage bid for '25, again took a balanced approach to provide as much stability for seniors as possible, while factoring in the realities of the funding cuts and current care patterns.
轉向我們業務的績效。 United Healthcare 的營收為 740 億美元,成長了 36 億美元。今年上半年,由於雇主和消費者對我們獨特的產品和服務做出了反應,UHC Domestic 商業會員數量增加了 230 萬人。雖然 25 年的銷售季節仍在繼續,但我們看到的持續勢頭令我們感到鼓舞。我們最近提交了 25 年 Medicare Advantage 投標,再次採取平衡的方法,為老年人提供盡可能多的穩定性,同時考慮到資金削減的現實和當前的護理模式。
You can expect us to continue to prioritize balanced and durable performance over transitory market share gains. In Medicaid, we expect membership levels to stabilize as we head into the second half of the year, and our teams are executing well with both renewals and expansions. Optum Health's revenues grew by 13% to $27 billion, and the operating margin expanded over last year. We are on track to approach 5 million patients in value-based care by the end of this year and are progressing strongly on our earlier and deeper engagement with patients with a purposeful focus on our newer regions to more rapidly improve health outcomes and experiences.
您可以期望我們繼續優先考慮平衡和持久的性能,而不是短暫的市場份額成長。在醫療補助方面,我們預計隨著下半年的到來,會員水準將趨於穩定,並且我們的團隊在續約和擴張方面都表現良好。 Optum Health 的營收成長了 13%,達到 270 億美元,營業利潤率比去年有所擴大。我們預計在今年年底前為500 萬名患者提供基於價值的護理,並且在更早、更深入地與患者接觸方面取得了強勁進展,有目的地關注我們的新地區,以更快地改善健康結果和體驗。
Optum Rx revenues grew 13% to over $32 billion, driven by strong customer response to the differentiated value, consumer experience and clinical expertise we offer. At Optum Insight, where they services, Beyond Change Healthcare, we see strong performance in line with our expectations. The revenue backlog increased to nearly $33 billion, growth of over $1 billion from a year ago, driven by business process and information technology services for health systems.
由於客戶對我們提供的差異化價值、消費者體驗和臨床專業知識的強烈反應,Optum Rx 收入成長了 13%,達到超過 320 億美元。 Optum Insight 為 Beyond Change Healthcare 服務,我們看到強勁的業績符合我們的預期。在衛生系統業務流程和資訊技術服務的推動下,積壓收入增加至近 330 億美元,較一年前成長超過 10 億美元。
A few additional items of note. As we highlighted in April, we established an additional $800 million in medical reserves in the first quarter to reflect the potential for the cyber-attack to have affected claims receipt timing. With claims now flowing at more normalized levels, we continue to prudently analyze these trends. Similar to last quarter, the second quarter results do not reflect any favorable earnings impacting medical reserve development.
一些額外值得注意的事項。正如我們在 4 月所強調的那樣,我們在第一季額外建立了 8 億美元的醫療儲備,以反映網路攻擊影響索賠接收時間的可能性。隨著索賠額現在處於更正常化的水平,我們將繼續謹慎分析這些趨勢。與上季類似,第二季業績並未反映出任何影響醫療儲備發展的有利獲利。
Days and claims payable at 45.2% compared to 47.1% in the first quarter. The change was due primarily to the return to more normal claims submission patterns from providers, and to a lesser extent, some impact from reclassifying the remaining South American operations to held for sale. Cash flows from operations in the quarter were $6.7 billion or 1.5 times net income, even with the accelerated funding for care providers. In June, our Board of Directors increased the dividend by 12%, marking the 15th consecutive year of double-digit dividend increases to shareholders.
應付天數和應付索賠率為 45.2%,而第一季為 47.1%。這項變更主要是由於提供者恢復了更正常的索賠提交模式,以及在較小程度上由於將剩餘的南美業務重新分類為待售而產生的一些影響。即使加速為護理服務提供者提供資金,該季度的營運現金流仍為 67 億美元,即淨利潤的 1.5 倍。 6 月份,我們的董事會將股息增加了 12%,這標誌著股東股息連續第 15 年增加兩位數。
During the quarter, as I mentioned earlier, we prioritize devoting resources to support care providers in the wake of the cyber-attack over some activities such as share repurchase. It was the right thing to do, devoting all our efforts to provide stability for the health system. Still with our ongoing strong capital capacities and with support needs abating, we expect to achieve the full year repurchase objective we shared with you last November.
正如我之前提到的,在本季度,我們優先投入資源來支持網路攻擊後的照護提供者,而不是股票回購等一些活動。盡一切努力為衛生系統提供穩定,這是正確的做法。儘管如此,憑藉我們持續強大的資本能力和支持需求的減弱,我們預計將實現去年 11 月與您分享的全年回購目標。
In summary, it is the confidence we have in the performance of our diversified businesses that allows us to affirm full year adjusted EPS in the range of $27.50 to $28. The objective we established last year, even as we have absorbed the unanticipated $0.60 to $0.70 in business disruption impacts. Within this, we expect a balanced pacing in the second half.
總而言之,正是我們對多元化業務表現的信心使我們能夠確認全年調整後每股收益在 27.50 美元至 28 美元之間。我們去年制定的目標,儘管我們已經吸收了意外的 0.60 至 0.70 美元的業務中斷影響。在此範圍內,我們預計下半年的節奏將保持平衡。
Now, I'll turn it back to Andrew.
現在,我將把它轉回給安德魯。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
John. Thank you. As I said in November at our investor conference, we operate in an environment where change is constant. What you've come to see is that when changes happen, foreseen or unforeseen, we just deal with it. UnitedHealth Group is a nimble and adaptable enterprise, well suited to meet the challenges that come our way and the opportunities we pursue with the many and diverse capabilities available to us.
約翰。謝謝。正如我在 11 月的投資者會議上所說,我們在一個不斷變化的環境中運作。您會看到,當變化發生時,無論是預見到的還是不可預見的,我們都會處理它。聯合健康集團是一家靈活且適應性強的企業,非常適合利用我們可用的多種能力來應對所面臨的挑戰和所追求的機會。
In this first half, as we've done before, we navigated a complex external environment while managing through a significant business disruption. We continue to deliver on our growth objectives and are committed to delivering on our 13% to 16% long-term growth target.
在上半年,正如我們之前所做的那樣,我們應對了複雜的外部環境,同時應對了重大的業務中斷。我們將繼續實現成長目標,並致力於實現 13% 至 16% 的長期成長目標。
We'll now answer any questions you might have. Operator, please.
我們現在將回答您可能提出的任何問題。接線員,請說。
Operator
Operator
(Operator Instructions)
(操作員說明)
AJ Rice, UBS.
AJ 賴斯,瑞銀集團。
AJ Rice - Analyst
AJ Rice - Analyst
Hi. Thanks for the question. Just to make sure, expanding on John's comments of, if we're thinking about the -- you're thinking on MLR overall for the rest of the year, it sounds like beyond change, beyond Latin America, there's two items you're calling out. One is the Medicaid timing mismatch, which sounds like you think its short term. And then this upcoding, coding intensity comment. And I assume that's mainly in the insurance business, but maybe it's in Optum Health as well. Can you just give us a sense of how much those were impacting your thinking and how much is second quarter versus the impact in the back half on those?
你好。謝謝你的提問。只是為了確定一下,擴展約翰的評論,如果我們正在考慮 - 您正在考慮今年剩餘時間的總體MLR,這聽起來似乎超越了變化,超越了拉丁美洲,有兩項您正在考慮呼喚著。一是醫療補助時間不匹配,聽起來你認為它是短期的。然後是這個升級,編碼強度評論。我認為這主要是在保險業務中,但也許在 Optum Health 中也是如此。您能否讓我們了解這些對您的想法的影響有多大,以及第二季與後半段對這些影響的影響有多大?
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Yeah, AJ, thanks for the question. Let me ask John to get right to it.
是的,AJ,謝謝你的提問。讓我請約翰直接開始。
John F. Rex - President & CFO
John F. Rex - President & CFO
Good morning, AJ. Yeah, and really kind of three items that we're talking to in addition to those two here, also the member mix component here, when they bring it all together, those additional items that we're looking at in terms of versus where we were and how we're thinking about it. I would say they're kind of roughly equivalent, in roughly equivalent zone in terms of their impact here. And then how they flow throughout the year, the rest of year, really, you'll see some of those elements, so as it relates to Medicaid impacts, pricing goes on over a period of say, kind of 12 months or so.
早上好,AJ。是的,除了這裡的這兩個之外,我們正在討論的實際上是三個項目,還有這裡的成員組合組件,當它們將它們全部放在一起時,我們正在考慮的其他項目與我們所關注的其他項目以及我們是如何考慮它的。我想說,就其影響力而言,它們大致相當,處於大致相當的區域。然後它們在一年中的流動情況,在一年中的剩餘時間裡,實際上,您會看到其中一些元素,因此,由於它與醫療補助影響有關,定價會在一段時間內(例如12 個月左右)進行。
So the pricing that occurs over the rest of this year into next year. So those elements in terms of catching up, that mismatch catching up with the acuity that we have in the remaining population occurs over a period. Certainly, we are addressing the elements we talked about in terms of what we're seeing in the coding upshift, and we're well underway in addressing those elements, but we'll continue to address them throughout the course of the year.
因此,定價將在今年剩餘時間到明年發生。因此,在追趕方面的那些因素,與我們在剩餘人口中所擁有的敏銳度的不匹配,是在一段時間內發生的。當然,我們正在解決我們在編碼升級中所看到的問題,並且我們正在順利解決這些問題,但我們將在今年繼續解決它們。
The member mix is kind of member mix we have now at this point. And that really pertains just what the elements that I mentioned in my prepared comments about some of the benefit design impacts and how that impacted both our growth and also the type of membership that we were left with as we saw our full integration. That really last with us throughout the year. So -- but that was an element we also incorporated into our view for 2025 as we approach our bid for '25. Thank you.
成員組合是我們目前擁有的成員組合。這確實涉及我在準備好的評論中提到的關於一些福利設計影響的元素,以及它如何影響我們的成長以及當我們看到我們的全面整合時我們留下的會員類型。這確實伴隨我們一整年。所以,當我們接近「25」的申辦時,我們也將此要素納入了 2025 年的願景中。謝謝。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Well said, John. And maybe just to reiterate one thing John said, and then maybe add a further point, AJ. Super important, just to hear what he said in terms of, you know that member mix, obviously, we deal with the during this year, but we obviously have the opportunity to incorporate it into our '25 plan in a bid. So we feel very good about that.
說得好,約翰。也許只是重申約翰說過的一件事,然後可能會補充一點,AJ。非常重要,只是聽聽他所說的話,你知道成員組合,顯然,我們在今年處理這個問題,但我們顯然有機會將其納入我們的 25 計劃中。所以我們對此感覺非常好。
And then secondly, maybe just to reflect -- step back just a little bit on -- as we think about MLR, really, the biggest income in dynamic on MLR at the beginning of this year was the funding reduction in MA, the V-28 significant reduction in funding. And you can see that we are fundamentally navigating I think extremely well. And, yes, there are a couple of areas of pressure at the margin. I think, as you just heard from John, they're primarily boxed off in terms of they're going to work their way through the pricing cycle with Medicaid or in the case of concerns around coding activity, we're very focused on that. Confident we will be able to -- we are addressing that.
其次,也許只是為了反思——退後一步——當我們考慮 MLR 時,實際上,今年年初 MLR 動態中最大的收入是 MA 的資金減少,V- 28資金大幅減少。你可以看到,我認為我們從根本上走得非常好。是的,邊緣存在一些壓力。我認為,正如您剛從約翰那裡聽到的那樣,他們主要是因為他們將在醫療補助的定價週期中工作,或者就編碼活動的擔憂而言,我們非常關注這一點。我們有信心能夠做到——我們正在解決這個問題。
So those things feel transitory. Most importantly, we feel good about the way our response to the V-28 funding cut is playing out for us in the overall business. And really, as we started the year, that was the much bigger thing to make sure we got right, and I've got the feeling like we're well on the way through the first year of a three-year cycle, and we've talked to you repeatedly about how critical is to make sure we navigate over the long run, and we feel good about that.
所以這些事情感覺都是短暫的。最重要的是,我們對 V-28 資金削減的反應在整個業務中所發揮的作用感到滿意。事實上,當我們開始這一年時,這是確保我們做對的更重要的事情,我有一種感覺,我們正在順利度過三年周期的第一年,我們我們已經多次與您討論確保我們長期發展的重要性,我們對此感覺良好。
So thanks, AJ. Next question.
所以謝謝,AJ。下一個問題。
Operator
Operator
Lisa Gill, JPMorgan.
麗莎·吉爾,摩根大通。
Lisa Gill - Analyst
Lisa Gill - Analyst
Thanks very much and good morning. I want to focus for a minute on SG&A, which came in much better than expected. Can you maybe talk about the key component of where you're seeing cost savings, the durability? And Andrew, you touched a little bit about AI efficiencies there. Are you starting to see that in this quarter? And how much opportunity is there perhaps from an SG&A perspective when we think about AI?
非常感謝,早安。我想花一點時間關註一下銷售、管理及行政費用(SG&A),它的表現比預期好得多。您能否談談您所看到的成本節約的關鍵組成部分,即耐用性?安德魯,你提到了一些關於人工智慧效率的問題。您在本季開始看到這一點嗎?當我們考慮人工智慧時,從 SG&A 的角度來看,可能存在多少機會?
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Lisa, thanks so much for the question. I'm going to ask John to comment a little bit. Let me make a couple of kind of upfront comments and then maybe a couple of examples more specifically to help you a little bit on this. So to get your last point, we are running now hundreds of AI use case deployments. I'd say the first wave of those are essentially allowing us to do things much more quickly, much more reliably, much more efficiently than humans can do them. So an ability to navigate complexity to find answers within complex data sets and it's super important.
麗莎,非常感謝你的提問。我要請約翰發表一點評論。讓我先做一些評論,然後再舉幾個更具體的例子來幫助您解決這個問題。因此,為了理解您的最後一點,我們現在正在運行數百個人工智慧用例部署。我想說,第一波浪潮本質上是讓我們能夠比人類更快、更可靠、更有效率地做事。因此,駕馭複雜性並在複雜資料集中找到答案的能力非常重要。
And I'll give you a couple of examples of how that begins to help us as we go on. I think we are now -- you will also start to see as we roll through the end of this year and next year, those same kind of tools begin to be deployed in fundamental reimagination of business process. So one is essentially allowing an existing process to run more efficiently. The second is, can we actually take steps out of a process and really start to change things.
我將舉幾個例子來說明這如何開始幫助我們繼續下去。我認為我們現在 - 當我們在今年年底和明年進行時,您也會開始看到,這些相同類型的工具開始被部署在業務流程的根本性重新構想中。因此,本質上是讓現有流程更有效地運作。第二個問題是,我們能否真正從流程中採取措施並真正開始改變事情。
I'd call out payment integrity as a front runner in that particular regard, and you'll start to see a lot of movement there over the next year or so, Lisa. And it's going to be, I think, Optum Insight '25, '26, '27 in terms of deployment of technology to change, many of the processes that we've been used to for decades is coming, and that's going to be exciting phase. If you look in the short run -- I'll give you a couple of examples, and this plays a little bit around the technology. I certainly wouldn't say that these are all generative AI examples, but they're certainly digitization examples, but they're certainly technology-enabled examples.
我認為支付誠信是這方面的領跑者,麗莎,在未來一年左右的時間裡,你會開始看到那裡有很多變化。我認為 Optum Insight '25、'26、'27 在技術部署方面將發生變化,我們已經習慣了幾十年的許多流程即將到來,這將是令人興奮的階段。如果你著眼於短期——我會給你幾個例子,這有點圍繞著技術。我當然不會說這些都是產生人工智慧的例子,但它們肯定是數位化的例子,但它們肯定是技術支援的例子。
So for example, we've we brought on this year, Optum Rx, a record number of clients. You've seen the growth. You can imagine the number of folks who have been signed up into Rx platforms. We actually spent 9% less this year in the onboarding of that record volume that we did the prior year, 9% less entirely due to digitization, technology efficiency deployed through the organization. Let me take you in another part of the organization, Optum Health. We've more or less increased our number of risks, fully-risk delegated lives within Optum Health by about 40% over the last two years. By the way, that's in excess of 1 million, almost a 1.5 million more lives over that period with zero increase in personnel headcount in the risk-based businesses.
舉例來說,我們今年推出了 Optum Rx,客戶數量創下了紀錄。你已經看到了成長。您可以想像有多少人註冊了 Rx 平台。實際上,今年我們在創紀錄數量的入職培訓上的支出比去年減少了 9%,這完全歸功於整個組織部署的數位化和技術效率。讓我帶您了解組織的另一個部分:Optum Health。在過去的兩年裡,我們或多或少地將 Optum Health 內的風險、完全風險委託生命的數量增加了約 40%。順便說一句,這一數字超過了 100 萬人,在此期間幾乎增加了 150 萬人的生命,而基於風險的企業的員工人數增長為零。
So zero increase in headcount in a business which has increased its served members by close to 40%. So those are just a couple of examples. You've seen that show off in those two examples, Optum, that's why you're starting to see that leverage flow through the Optum business line. And it's something we obviously expect to continue to sustain over many, many quarters and years.
因此,一家企業的員工人數增加為零,而其服務成員數量卻增加了近 40%。這些只是幾個例子。 Optum,您已經在這兩個範例中看到了這一點,這就是為什麼您開始看到 Optum 業務線的槓桿流動。我們顯然希望這種情況能夠在很多很多季度和很多年裡繼續維持下去。
And John, I'd love you to go a little deeper.
約翰,我希望你能更深入一點。
John F. Rex - President & CFO
John F. Rex - President & CFO
Yeah. Good morning, Lisa. As you can -- I guess I'd start by, it is early in that journey in terms of that potential and opportunity for what we can do. And yes, it was a very strong quarter in terms of cost management. But let me just step back a moment here that you can imagine given how some of these businesses were built and the fragmentation of the system, there are duplicative functions, [there's even] uneven consumer experiences throughout that we're addressing. And as our businesses begin to scale, our ability to produce efficiency accelerates. A lot of time -- same time, we can improve those constant customer experiences and expand the breadth of best practices across a broader base.
是的。早安,麗莎。我想我會從這個開始,就我們所能做的事情的潛力和機會而言,現在還處於這趟旅程的早期階段。是的,就成本管理而言,這是一個非常強勁的季度。但讓我退後一步,你可以想像一下,考慮到其中一些業務的構建方式和系統的碎片化,存在重複的功能,[甚至]我們正在解決的整個消費者體驗不均勻。隨著我們的業務開始規模化,我們提高效率的能力也隨之提高。很多時間——同時,我們可以改善這些持續的客戶體驗,並在更廣泛的基礎上擴展最佳實踐的廣度。
The comments that Andrew was offering in his answer to your question, it's just really a natural outgrowth as these businesses begin to move beyond what we have viewed the earliest phases to a more adolescent phase. That's what we're seeing. Very strong this quarter. Over the longer term, we can expect advancement.
安德魯在回答你的問題時提出的評論是,這確實是一個自然的結果,因為這些企業開始超越我們所看到的最早階段,進入更青少年的階段。這就是我們所看到的。本季非常強勁。從長遠來看,我們可以期待進步。
I wouldn't expect it to remain at this level consistently as we look ahead over the next few quarters, though. It was super strong quarter. But we are going to look to invest in many of these items that Andrew just articulated here, getting to a more modern streamline experiences as these businesses evolve further. So I wouldn't expect it to persist right at this level as we make those investments, and we're anxious and ambitious to make those investments.
不過,當我們展望未來幾個季度時,我預計它不會持續保持在這個水平。這是一個超級強勁的季度。但我們將尋求投資安德魯剛才在這裡闡述的許多項目,隨著這些業務的進一步發展,獲得更現代的簡化體驗。因此,當我們進行這些投資時,我不認為它會持續在這個水平,而且我們對進行這些投資感到焦慮和雄心勃勃。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Great. So Lisa, thanks for raising it. You can tell it's a big focus for us. We laid out when the V-28 first was announced, that one of the three ways that we would respond to this is we would double down on our own cost management efficiency and productivity, you're absolutely seeing that. And that coincides with an extraordinarily exciting moment around technological innovation, whether that's generative AI, digitization, all wrapped together in our march toward a greater consumer focus within the organization. All of that really hangs together. It's very much the core focus of how we think about things going forward. Thanks, Lisa. Next question.
偉大的。麗莎,謝謝你提出這個問題。你可以看出這是我們的一大焦點。當 V-28 首次發佈時,我們制定了應對這一問題的三種方式之一,即我們將加倍提高自己的成本管理效率和生產力,您絕對看到了這一點。同時,科技創新也迎來了一個異常令人興奮的時刻,無論是生成型人工智慧還是數位化,所有這些都與我們在組織內更加重視消費者關注的進程息息相關。所有這些確實緊密相連。這在很大程度上是我們思考未來事情的核心焦點。謝謝,麗莎。下一個問題。
Operator
Operator
Josh Raskin, Nephron Research.
喬許·拉斯金,腎單位研究。
Josh Raskin - Analyst
Josh Raskin - Analyst
Hi, thanks. Good morning. Looking at your bids that you submitted for MA for 2025, I'd be curious to get tell us if you are bidding to improve MA margins in 2025? Or if you're still within that target range in light of the G&A savings? And then more importantly, maybe just some early thoughts on what sort of growth assumptions you have included in those bids, both your assumptions to the market as well as any potential market share gains.
你好謝謝。早安.看看您提交的 2025 年 MA 出價,我很想知道您是否打算提高 2025 年 MA 利潤率?或者,考慮到管理費用節省,您是否仍處於該目標範圍內?更重要的是,也許只是一些關於您在這些出價中包含哪些成長假設的早期想法,包括您對市場的假設以及任何潛在的市場佔有率收益。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Hey, Josh, Thanks so much. I'm going to as Tim Noel to address the first part of your question. On the second part, you're not going to be surprised, but I'm going to defer from making any predictions about next year. Still a little early. We'd like to see where everybody else plays out in this cycle. I think we also all saw in the 2024 cycle, ultimately, the way growth plays out in the marketplace depends on how everybody bids, not just on how you bid. And it only takes one bid to be kind of out of expectation to completely be distort your view of how things could play out. So just going to defer a little bit on that one. But on the first point, Tim, I'd love you to make a few comments.
嘿,喬什,非常感謝。我將作為蒂姆·諾埃爾回答你問題的第一部分。在第二部分中,你不會感到驚訝,但我將推遲對明年做出任何預測。還是有點早。我們想看看其他人在這個週期中的表現如何。我認為我們在 2024 年周期中也看到,最終市場成長的方式取決於每個人的出價方式,而不僅僅是您的出價方式。只需要一次出乎意料的出價,就會完全扭曲你對事情如何發展的看法。所以只是稍微推遲一下。但關於第一點,提姆,我希望你發表一些評論。
Timothy John Noel - CEO of UnitedHealthcare Medicare & Retirement
Timothy John Noel - CEO of UnitedHealthcare Medicare & Retirement
Yeah. Thanks, Josh for the question. So as we think about margins in the MA business and as it relates to our bid. I think we've talked about on a consistent approach to how we plan margins, and we continue to maintain that. And we're operating comfortably within that margin range as we have in the past, and as we're planning and 2025. And then when I think about our pricing approach for 2025, as Andrew mentioned, too early to get into a lot of specifics as CMS is reviewing those bids right now. But we're in a posture and how we price those products as we'll be comfortable with whatever growth as the outcome on the products that we bring the marketplace in 2025.
是的。謝謝喬希的提問。因此,當我們考慮 MA 業務的利潤率以及它與我們的出價相關時。我認為我們已經討論瞭如何規劃利潤的一致方法,並且我們將繼續保持這一點。正如我們過去以及我們正在規劃的2025 年一樣,我們在這個利潤範圍內舒適地運營。早具體細節,CMS 目前正在審查這些出價。但我們目前的態度以及我們如何對這些產品定價,因為我們對 2025 年推向市場的產品所帶來的任何成長感到滿意。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Great. Thanks so much Tim. And Josh, appreciate the question. Next question, please.
偉大的。非常感謝蒂姆。喬什,謝謝你提出這個問題。請下一個問題。
Operator
Operator
Stephen Baxter, Wells Fargo.
史蒂芬‧巴克斯特,富國銀行。
Stephen Baxter - Analyst
Stephen Baxter - Analyst
Yes. Hi. Thanks. Can you speak in a little greater detail about your expectation that the Medicaid pressure starts to subside in the second half of the year? I guess, specifically, can you maybe speak to what you actually know about rates today, either draft or finalized versus perhaps speaking to a general reliance on actuarially sound rates playing out over a regional period of time? Just trying to understand more a little about the visibility that you have a bit better. Thank you.
是的。你好。謝謝。您能否更詳細地談談您對醫療補助壓力在今年下半年開始消退的預期?我想,具體來說,您能否談談您今天對利率的實際了解,無論是草案還是最終確定的利率,還是可能談論對區域內一段時間內的精算合理利率的普遍依賴?只是想更多地了解您擁有更好的可見性。謝謝。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Okay. Hey Stephen, thanks for the question. I'm going to ask Krista Nelson, who leads our Medicaid business to respond to that. Krista?
好的。嘿史蒂芬,謝謝你的提問。我要請領導我們醫療補助業務的克里斯塔·尼爾森對此做出回應。克里斯塔?
Krista Nelson - CEO of UnitedHealthcare Community & State
Krista Nelson - CEO of UnitedHealthcare Community & State
Yeah. Thanks so much for the question. So as it relates to visibility, we've got visibility into the majority of our rates for '24. And while there's a slight gap in the second quarter, we really like how our 7:1 rates are shaping up and continue to work with state partners to influence key assumptions before those rates become final in the future. And while we might see a little bit of dislocation in the rest of the year, states have really committed to accurately reflecting the change in acuity from redeterminations into current and future adjustments and really expect this to even out as we pace through the remainder of '24 and early '25. Thanks for the question.
是的。非常感謝您的提問。因此,由於它與可見性相關,因此我們可以了解 '24 的大部分費率。儘管第二季度存在輕微差距,但我們非常喜歡 7:1 利率的形成方式,並繼續與州合作夥伴合作,在這些利率未來最終確定之前影響關鍵假設。雖然我們可能會在今年剩餘的時間裡看到一些混亂,但各州確實致力於準確反映從重新決定到當前和未來調整的敏銳度變化,並真正期望隨著我們在今年剩餘時間裡的步伐,這種情況會趨於平衡。謝謝你的提問。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
All right. Krista, thanks so much. So I mean, Stephen, I think you heard there why we're confident that this is really a kind of time fence issue. And in the grand scheme of things, I would characterize this at the margin. It's a part you've seen in this small deviation in Q2, but we don't really see it as a sustainably structural issue, and you heard exactly why just there. So thanks, Krista. And Stephen, thanks for your question. Next question, please.
好的。克里斯塔,非常感謝。所以我的意思是,史蒂芬,我想你聽到了為什麼我們有信心這確實是一個時間圍欄問題。從宏觀角度來看,我會在邊緣描述這一點。這是您在第二季的小偏差中看到的一部分,但我們並沒有真正將其視為可持續的結構性問題,您也聽到了確切的原因。謝謝,克里斯塔。史蒂芬,謝謝你的提問。請下一個問題。
Operator
Operator
Justin Lake, Wolfe Research.
賈斯汀·萊克,沃爾夫研究中心。
Justin Lake - Analyst
Justin Lake - Analyst
Thanks. Good morning. Just a quick clarification and then a question about second half MLR. So first, a clarification. On the MLR, it sounded like, John, you're guiding to a core MLR of the -- at the high end of the range or 84.5%. And then I would add 30 basis points of the one-timers for the full year that you've seen in the first half. That would leave GAAP MLR at 84.8%.
謝謝。早安.只是快速澄清一下,然後問一個有關下半場 MLR 的問題。首先,澄清一下。在 MLR 上,約翰,您正在引導核心 MLR 處於範圍的高端或 84.5%。然後我會加上你在上半年看到的全年一次性利率的 30 個基點。這將使 GAAP MLR 保持在 84.8%。
Is this correct? And to be clear, is there any expectation for further one-timers [versus] the second half of the year? Or should the third and fourth quarter kind of be clean? And then my question is just around core MLR in the first quarter x the one-timers was 84.2%. It sounds like it will be 84.8% in the second half. Maybe you could help us think about 3Q versus 4Q just to make sure our expectations are set correctly given how much focus there is here. Thanks.
它是否正確?需要明確的是,與下半年相比,是否對更多一次性產品有任何期望?或者說第三季和第四季應該是乾淨的?然後我的問題就圍繞著第一季的核心 MLR x 一次性率為 84.2%。聽起來下半年就84.8%了。也許您可以幫助我們考慮第三季度和第四季度,以確保我們的預期設定正確,考慮到這裡有多少關注點。謝謝。
John F. Rex - President & CFO
John F. Rex - President & CFO
Good morning, Justin. I'd say, first, yes, your -- the way you described our assumptions around core full-year MLR are consistent with our expectations. So how you describe that is quite consistent. As it relates to just looking at towards the 3Q and such, I'd expect that to be in the neighborhood of 84%, very likely a few tens of basis points higher than that, though, so it kind of a little bit above that in that zone.
早安,賈斯汀。我想說,首先,是的,您描述我們對核心全年 MLR 的假設的方式與我們的預期一致。所以你的描述是非常一致的。由於它涉及到第三季等,我預計該比例將在 84% 左右,但很可能比這個數字高出幾十個基點,所以它有點高於這個數字在那個區域。
As it relates to other elements that we've pulled out here, no, they shouldn't be material. Those cyber effects should continue to abate. As we mentioned, we're not adjusting for the elements we talked about the provider and coding intensity, so that kind of pulls through a little bit. But there shouldn't be any material other impacts that we're thinking about. Thank you.
因為它與我們在這裡提取的其他元素相關,所以它們不應該是實質性的。這些網路效應應該會繼續減弱。正如我們所提到的,我們不會針對我們討論的提供者和編碼強度的元素進行調整,因此這種情況會稍微好一點。但我們不應該考慮任何其他重大影響。謝謝。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Thanks, John. Thanks, Justin. Next question, please.
謝謝,約翰。謝謝,賈斯汀。請下一個問題。
Operator
Operator
Scott Fidel, Stephens.
斯科特·菲德爾,史蒂芬斯。
Scott Fidel - Analyst
Scott Fidel - Analyst
Hi, thanks. Good morning. Actually, I was hoping we could maybe do a similar exercise as Justin just asked about with MLR for Optum Health margins. And maybe first, if you can talk about how the OH margins came in at 2Q relative to your expectations. And then how you're thinking about OH margins progressing in 3Q and 4Q? And then how comfortable you are with getting into that -- the full year target range that you had provided. And John, I thought it might be helpful too, as we think about the sort of pacing in the back half of the year, in particular, how you're thinking about an exit rate for Optum Health margins as we're exiting 2024 would be helpful? Thanks.
你好謝謝。早安.事實上,我希望我們可以做一個類似的練習,就像賈斯汀剛剛詢問 MLR 的 Optum Health 利潤率一樣。也許首先,您是否可以談談第二季 OH 利潤率與您的預期相比如何。那麼您如何看待第三季和第四季的 OH 利潤率進展?然後你對進入這個目標有多舒服——你提供的全年目標範圍。約翰,我認為這也可能會有所幫助,因為我們會考慮今年下半年的節奏,特別是您如何考慮 Optum Health 利潤率的退出率,因為我們即將退出 2024 年有幫助嗎?謝謝。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Scott, thanks so much for your question. I'm going to ask Dr. Amar Desai who leads Optum Health to give you a few comments there. I mean, let me just preface that by saying, look, we feel good, very good about the continued progression and in particular, the way in which Optum Health has adjusted to deal with the new funding environment. I'm also very, very encouraged by the degree of external payer engagement with our Optum Health platform as they deal with the environment themselves and look at Optum Health as a part of that solution. And I think the performance of the business you see is -- it continues to improve over last year, you continue to see a decent progression. Let me ask Amar to give a little bit of a sense of how he sees the second half of the year playing out.
斯科特,非常感謝你的問題。我將請 Optum Health 領導者 Amar Desai 博士給您一些評論。我的意思是,讓我在序言中說,看,我們對持續的進展感覺良好,非常好,特別是 Optum Health 為應對新的融資環境而進行的調整方式。我也對外部付款人對我們 Optum Health 平台的參與程度感到非常非常鼓舞,因為他們自己處理環境問題,並將 Optum Health 視為該解決方案的一部分。我認為你看到的業務表現是——它比去年繼續改善,你繼續看到一個不錯的進步。讓我請阿瑪爾談談他對下半年的看法。
Amar Desai - CEO of Optum Health
Amar Desai - CEO of Optum Health
Hi, Scott. Thanks for the question. So as Andrew said, we're in the middle of the first year of a large rate reduction over the next three years, effectively being a price cut. And as we think about the initiatives, we're pleased with the early success, mitigating the impact of that changing rate environment. In '23, we developed a three-year plan to manage through V-28. Medical cost management and affordability initiatives was at the center of it.
嗨,斯科特。謝謝你的提問。正如安德魯所說,我們正處於未來三年大幅降息的第一年中期,實際上是降價。當我們考慮這些措施時,我們對早期的成功感到高興,減輕了不斷變化的利率環境的影響。 23 年,我們制定了一項透過 V-28 進行管理的三年計畫。醫療成本管理和負擔能力措施是其核心。
Proactive clinical engagement that impacts member experience and total cost of care is obviously core to that, including better prevention and chronic disease management. And then disciplined operating cost management, more efficient ways to work, improvements in productivity, driving consistency in our workflows and systems, which Andrew and John alluded to.
影響會員體驗和總護理成本的積極臨床參與顯然是其核心,包括更好的預防和慢性病管理。然後是嚴格的營運成本管理、更有效率的工作方式、生產力的提高、推動工作流程和系統的一致性,安德魯和約翰提到了這一點。
We're executing very well on this plan seeing solid progress across each of these areas. As an example, at this time last year, we had engaged 62% of all members. Year to date, we've engaged three-fourths of all members and above that for our highest risk membership. We're also focused on coordination of care, particularly at transition points in care, where we've increased post-discharge visits for patients who have been hospitalized that has, in fact, reduced readmission rates by 10% in our most mature markets. So as we pace through the balance of the year, we expect to continue to build on this momentum across engagement, affordability and operating cost management and we are confident in the 7.7% to 8% target for the year.
我們在這個計劃上執行得很好,在每個領域都取得了紮實的進展。舉例來說,去年這個時候,我們吸引了 62% 的會員。今年迄今為止,我們已經吸引了四分之三的會員,甚至超過了我們最高風險的會員。我們也專注於護理協調,特別是在護理過渡點,我們增加了住院患者的出院後就診次數,事實上,在我們最成熟的市場中,再入院率降低了 10%。因此,當我們在今年餘下的時間裡繼續前進時,我們預計將繼續在參與度、負擔能力和營運成本管理方面繼續保持這一勢頭,並且我們對今年 7.7% 至 8% 的目標充滿信心。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Great. Amar, thanks so much. And, Scott, thanks again for the question. Next question, please.
偉大的。阿馬爾,非常感謝。斯科特,再次感謝你的提問。請下一個問題。
Operator
Operator
Kevin Fischbeck, Bank of America.
凱文‧菲施貝克,美國銀行。
Kevin Fischbeck - Analyst
Kevin Fischbeck - Analyst
Great. Thanks. Just wanted to clarify, I guess, something and ask the question. It wasn't clear to me what you were saying about no favorable reserve development. Does that mean the $800 million that you mentioned previously is still somehow in the numbers? Or is that kind of worked through at the end of Q2?
偉大的。謝謝。我想只是想澄清一些事情並提出問題。我不清楚你所說的沒有有利的儲備開發是什麼意思。這是否意味著您之前提到的 8 億美元仍然在數字中?或者說這在第二季末就已經解決了?
And then I guess just trying to understand better where the outperformance is because obviously, you guys have assumed $0.60 to $0.70 of change costs in your guidance but reaffirm the numbers and it doesn't sound like Medicare is the answer, doesn't sound like Medicaid is the answer, change isn't the answer. So where has the outperformance coming that allowed you to maintain guidance? Thanks.
然後我想只是想更好地理解表現優異的地方,因為顯然,你們在指導中假設了 0.60 至 0.70 美元的變更成本,但重申了這些數字,聽起來醫療保險不是答案,聽起來不像醫療補助是答案,改變不是答案。那麼,讓你們能夠維持指導的優異表現來自於哪裡呢?謝謝。
John F. Rex - President & CFO
John F. Rex - President & CFO
Yeah, good morning, Kevin. It's John. So yeah, so exactly what we said, there was nothing material there going on in development. No favorable P&L impacting development in the quarter, very similar to last quarter in terms of there was just no impact being there.
是的,早安,凱文。是約翰。所以,是的,正如我們所說,開發中沒有任何實質內容。沒有有利的損益影響本季的發展,與上季非常相似,只是沒有影響。
And in terms of just sort of your comments or questions regarding outperformance, well, maybe some across a number of the businesses in terms of where we're seeing. We're seeing very strong growth, certainly in our commercial health benefits business, we're seeing strong growth. We're seeing margin progression in Optum Health. So we're seeing advancement.
就您對優異表現的評論或問題而言,就我們所看到的情況而言,也許是針對許多企業的一些評論或問題。我們看到了非常強勁的成長,尤其是在我們的商業健康福利業務方面,我們看到了強勁的成長。我們看到 Optum Health 的利潤率不斷提高。所以我們看到了進步。
Really, the strong approach that the team at M&R took and tell how they looked at '24 in terms of overcoming the headwinds at V-28, and it's a very disciplined approach they took to how they stepped out into the marketplace with the products that they took. Even with some of the elements that we talked about that were overcoming there, but certainly, all those creating a good impact from us.
確實,M&R 團隊採取了強有力的方法,並講述了他們如何看待 24 年克服 V-28 逆風的情況,並且他們採取了非常嚴格的方法,以他們的產品進入市場。即使我們談到的一些因素正在克服,但可以肯定的是,所有這些因素都為我們帶來了良好的影響。
Clearly, just across the company, the strong operating efficiencies that the company is driving, strong and sustained. And they said, look, we will continue to make investments, but really a significant progress on that and still feels very early stage. So as Andrew commented in terms of the potential we have as we look over the next five years and this impact, and we're just getting some of these businesses to a maturity level where we think we can really harness that. Thank you.
顯然,在整個公司範圍內,公司正在推動強勁且持續的強勁營運效率。他們說,看,我們將繼續進行投資,但這確實取得了重大進展,而且仍處於早期階段。因此,正如安德魯在談到我們未來五年的潛力及其影響時所評論的那樣,我們只是讓其中一些業務達到成熟水平,我們認為我們可以真正利用它。謝謝。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Yeah. Thanks, John. And let me just also reiterate that point. I mean part of what you're seeing here, Kevin, is obviously, the big change this year was the V-28 funding cut price reduction, which obviously focuses primarily on our Medicare Advantage business that Tim runs and the Optum Health business that Amar runs, both of whom are responding super well.
是的。謝謝,約翰。我也重申這一點。我的意思是,凱文,你在這裡看到的部分內容顯然是,今年的重大變化是V-28 資金削減價格下降,這顯然主要集中在蒂姆經營的Medicare Advantage 業務和阿馬爾經營的Optum Health 業務上。
But let's be clear, while those pricing cuts are focused on two businesses, team UHG is responding, right? The entire corporation is engaged in how it manages itself better, reduces cost across the company, leverages technology, accelerates our consumer agend, all designed to play our part across the board in how we offset the pressure that's been inflicted on those two important businesses.
但我們要明確一點,雖然這些降價主要針對兩項業務,但 UHG 團隊正在做出回應,對吧?整個公司都致力於如何更好地管理自身、降低整個公司的成本、利用技術、加速我們的消費者時代,所有這些都是為了在如何抵消這兩項重要業務所承受的壓力方面發揮我們的作用。
Why we're confident we can navigate this? I think you're seeing that in the performance of the business, and we're going to continue why I said what I said earlier today. We're going to continue to focus on every aspect of our business to make sure that the model we've laid out, and we believe is the right one for the best value care for patients is the one that prospers and we're super confident in that. Next question.
為什麼我們有信心能夠度過難關?我認為您已經在業務表現中看到了這一點,我們將繼續解釋我今天早些時候所說的原因。我們將繼續專注於我們業務的各個方面,以確保我們所製定的模式能夠蓬勃發展,並且我們相信這種模式是為患者提供最佳價值護理的正確模式,並且我們是超級對此充滿信心。下一個問題。
Operator
Operator
Andrew Mok, Barclays.
安德魯·莫克,巴克萊銀行。
Andrew Mok - Analyst
Andrew Mok - Analyst
Hi, good morning. The Optum Insight backlog was down about $200 million sequentially. Can you give us color on the drivers of that and the nature of conversations you're having with providers following the cyber-attack? Do you expect further declines in the backlog this year? Thanks.
早安. Optum Insight 的積壓訂單比上一季減少了約 2 億美元。您能否向我們介紹一下該事件的驅動因素以及您在網路攻擊後與提供者進行的對話的性質?您預計今年積壓訂單會進一步減少嗎?謝謝。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Andrew, thanks so much for that. Let me ask Roger Connor to address that. It's pretty straightforward. But let me ask Roger to answer that, and maybe give you a little bit more flavor on what he's seeing.
安德魯,非常感謝。讓我請羅傑康納解決這個問題。這非常簡單。但讓我請羅傑回答這個問題,或許可以讓你對他所看到的內容有更多的了解。
Roger G. Connor - CEO of Optum Insight & Executive VP of Enterprise Operations and Services for Optum
Roger G. Connor - CEO of Optum Insight & Executive VP of Enterprise Operations and Services for Optum
Yeah, Andrew, thanks very much for the question. Just in terms of backlog, obviously, an important measure and there has been some impact from the change events within that. What it doesn't include, obviously, is what we're doing in terms of bringing in new clients and what we're doing in our whole innovation space. But fundamentally, we are very confident in terms of the performance going into next year with the cyber event certainly from an impact on the overall health system is nigh absolutely minimal.
是的,安德魯,非常感謝你的提問。就積壓而言,顯然這是一項重要措施,其中的變更事件產生了一些影響。顯然,它不包括我們在引入新客戶方面所做的事情以及我們在整個創新領域所做的事情。但從根本上說,我們對明年的表現非常有信心,因為網路事件對整個衛生系統的影響幾乎絕對是最小的。
When you look at our overall focus, it's nigh on driving that business recovery. And that's all about bringing volume back into the system. And we're seeing that actually really ramping up and seeing momentum acceleration. We're not only trying to bring volume back to our current customers, we're also going to bring new clients in, and that's exciting because this event has really transformed the marketplace.
當你看看我們的整體重點時,你會發現它幾乎是在推動業務復甦。這就是將音量帶回系統的全部內容。我們看到,這種情況實際上正在加速,而且勢頭正在加速。我們不僅要努力恢復現有客戶的銷售量,還要吸引新客戶,這很令人興奮,因為這次活動確實改變了市場。
They're looking for again, access to innovation, access to security in the system, and that's what we've brought back. We've brought back a very secure system, and that is resonating. We're seeing that momentum. You add that to the underlying strength of the Optum Insight business. Again, change is only 15% of our overall business performance this year was planned. That's why we're confident in terms of getting back to our baseline performance in 2025.
他們再次尋求創新、系統安全,而這正是我們帶回來的。我們帶回了一個非常安全的系統,這引起了共鳴。我們看到了這種勢頭。您可以將其新增至 Optum Insight 業務的潛在優勢。再次強調,變革僅占我們今年計畫的整體業務績效的 15%。這就是為什麼我們有信心在 2025 年恢復到我們的基準績效。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Right. Thanks so much, Roger. Thanks, Andrew. Next question.
正確的。非常感謝,羅傑。謝謝,安德魯。下一個問題。
Operator
Operator
Nathan Rich, Goldman Sachs.
內森·里奇,高盛。
Nathan Rich - Analyst
Nathan Rich - Analyst
Hi. Good morning. Thanks for the question. I wanted to go back to the provider coding activity that you called out and asked maybe what you saw kind of change in the quarter and what actions you're taking to address this change? And is this pressure something that you accounted for in bids for next year? And then if I could just ask a very quick clarification on the change impact on EPS. You talked about the return to baseline performance in 2025. Does that mean you would expect to recover the $0.60 to $0.70 of it is in earnings this year? Thank you.
你好。早安.謝謝你的提問。我想回到您提到的提供者編碼活動,並詢問您在本季度看到的變化以及您將採取哪些行動來應對這一變化?您在明年的投標中是否考慮到了這種壓力?然後我能否快速澄清這項變更對每股盈餘的影響。您談到了 2025 年恢復到基準表現。謝謝。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Okay. Thanks so much for the question, Nathan. Brian, if you'd like to go first.
好的。非常感謝你的提問,內森。布萊恩,如果你想先走的話。
Brian Robert Thompson - CEO of UnitedHealthcare
Brian Robert Thompson - CEO of UnitedHealthcare
Sure. I'll answer that first part on the upshift that we saw in provider level of care coding patterns. We actually believe that was largely induced by our level of care waivers that we did during the cyber disruption. The reason we believe that is we really saw a higher level of mix to inpatient versus observation after we went back to turning on our utilization management protocols, pretty distinct on April 15 and thereafter. So that's why we see that.
當然。我將回答第一部分關於我們在提供者層級的護理編碼模式中看到的升級。我們實際上認為,這很大程度上是由於我們在網路中斷期間所做的護理豁免程度所致。我們相信這一點的原因是,在我們重新啟用利用率管理協議後,我們確實看到了住院患者與觀察患者的更高水平的混合,這在 4 月 15 日及之後非常明顯。這就是我們看到這一點的原因。
Certainly, aware of that activity as we plan for 2025 in our bid. So really no concerns with respect to that. Feel like it's an anomaly tied to what we saw during our waiver. And we have reinforced our utilization management protocols and believe that these impacts will dampen as we pace through the remainder of the year.
當然,我們在申辦 2025 年計畫時就意識到了這項活動。所以對此真的不用擔心。感覺這與我們在棄權期間看到的情況有關。我們已經加強了利用管理協議,並相信隨著我們在今年剩餘時間的步伐,這些影響將會減弱。
John F. Rex - President & CFO
John F. Rex - President & CFO
Yeah. And regarding change, yes, as you -- as we mentioned in our comments and Roger mentioned, our ambition is to get back to baseline expectations performance for that business in 2025. So these baseline expectations being what we would have expected prior to any of this happening. And clearly, this quarter, we increased the impact of the business disruption here. So as we bring those back, there's the pacing of those revenues coming back, taking sometimes a little bit more time to bring in, but that is our ambition actually as we look ahead.
是的。關於變化,是的,正如您在評論中提到的和羅傑所提到的,我們的目標是在 2025 年恢復該業務的基準預期績效。這件事發生了。顯然,本季我們增加了業務中斷的影響。因此,當我們恢復這些收入時,這些收入就會恢復,有時需要更多時間才能恢復,但這實際上是我們展望未來的雄心壯志。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Thanks, John, Brian. I mean, again, just on this business interruption piece. I mean, I think in all honesty, we were a little optimistic in hindsight at the pace at which we thought people would come back in terms of putting their flow through the system once it was reconnected. I think as we've looked at the last several weeks, that momentum and pace in particular, as we look at new clients come in as well as returning clients, feel good about where we are now. So I think probably a little over optimistic three months ago. I think now, I feel like we have this now, and we're in a good position. And the rest of the year, we've got a clear path how this plays out. And I think the platform that we've rebuilt is going to serve the people extremely well. Next question.
謝謝,約翰,布萊恩。我的意思是,就在這個業務中斷部分。我的意思是,老實說,事後看來,我們對人們在系統重新連接後將流量回歸系統的速度感到有點樂觀。我認為,正如我們過去幾週所看到的那樣,尤其是當我們看到新客戶和回頭客時,我們對我們現在的處境感到滿意。所以我認為三個月前可能有點過於樂觀了。我想現在,我覺得我們現在已經擁有了這個,而且我們處於一個很好的位置。在今年剩下的時間裡,我們已經有了明確的發展路徑。我認為我們重建的平台將為人們提供非常好的服務。下一個問題。
Operator
Operator
Erin Wright, Morgan Stanley.
艾琳·賴特,摩根士丹利。
Erin Wright - Analyst
Erin Wright - Analyst
Great. Thanks. So on the earlier topic of potential offsets, I wanted to ask on Optum Rx and with the recent level of industry attention kind of on the PBM business as well as kind of specialty pharmacy, how should we think about how those drivers are playing out relative to your expectations, whether it's biosimilars or GLP-1 in terms of that therapeutic category, how should we think about those near-term drivers across Optum Rx? Thanks
偉大的。謝謝。因此,關於之前潛在抵消的話題,我想問一下 Optum Rx,以及最近行業對 PBM 業務以及專業藥房的關注程度,我們應該如何考慮這些驅動因素相對而言如何發揮作用?生物相似藥還是GLP-1 治療類別,我們應該如何考慮Optum Rx 的近期驅動因素?謝謝
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Erin, thanks so much for the question. Let me ask Heather who runs Optum for us to make a couple of comments on that, if you don't mind, Heather?
艾琳,非常感謝你的提問。讓我請為我們經營 Optum 的希瑟對此發表一些評論,如果你不介意的話,希瑟?
Heather Rachelle Cianfrocco - President of Optum
Heather Rachelle Cianfrocco - President of Optum
Sure. Just basically, I think you can see in the quarter just strong performance. Maybe a couple of things I would just highlight for that. We've talked for a few years about the investments we've been making in Optum Rx on both the PBM side, but also on the pharmacy side. PBM side, you've seen the growth there in client and just in volume sort of same with respect to volume within our existing clients as well. We take that as a sign of strong retention of existing clients and continuing to perform with them.
當然。基本上,我認為您可以在本季看到強勁的表現。也許我想強調幾件事。幾年來,我們一直在談論我們在 Optum Rx 的 PBM 方面和製藥方面的投資。在 PBM 方面,您已經看到了客戶數量的成長,而且數量與我們現有客戶的數量也大致相同。我們認為這是強有力地保留現有客戶並繼續與他們合作的標誌。
I think the thing I'd highlight on the PBM side is, I've said this before, the modular effect of the PBM business. We serve at the privilege of our clients. So what they need, we serve. And that is we administer their benefit, and we offer the programs, the services to drive affordability of medications for them in the best interest of their members.
我認為在 PBM 方面我要強調的是,我之前已經說過,PBM 業務的模組化效應。我們為客戶提供特權。所以他們需要什麼,我們就服務什麼。這就是我們管理他們的福利,我們提供計劃和服務來提高他們對藥物的負擔能力,以符合其成員的最大利益。
And we've brought a lot of products and services in the last year, two or three new products this market that are leading, differentiating in the marketplace that we are seeing our health plans, and our employers take advantage of this year that are really market differentiating and we're seeing that drive not just growth with health plans, but growth in products and services. So I think you're seeing that show up. The other thing you're seeing is the cost efficiency show up in the business, one of the -- Andrew brought up an example, and you're seeing some of the timing of supply chain efficiency.
去年我們帶來了很多產品和服務,有兩到三種新產品在這個市場上處於領先地位,在市場上與眾不同,我們看到了我們的健康計劃,我們的雇主利用了今年的優勢,這些產品確實是市場的差異化不僅推動了健康計劃的成長,而且推動了產品和服務的成長。所以我想你已經看到了這一點。您看到的另一件事是業務中出現的成本效率,其中之一 - 安德魯舉了一個例子,您會看到供應鏈效率的一些時機。
On the services side of the business, you mentioned specialty, I'd call out the diversification of the pharmacies in general. Remember, we've got the integrated behavioral health business, which continues to grow and expand. It's a very differentiated business and that it's co-located. And it's specifically directed at those behavioral health members to ensure access and affordability and a holistic care to individuals with mental health conditions.
在業務的服務方面,您提到了專業化,我會指出藥局整體上的多元化。請記住,我們擁有綜合行為健康業務,該業務仍在不斷成長和擴大。這是一個非常差異化的業務,並且位於同一地點。它專門針對那些行為健康成員,以確保為患有心理健康問題的個人提供可近性、可負擔性以及整體護理。
And then our frontier and our infusion services that really drive those specialty medications in home, we're seeing continued need for that from our PBM clients, but also non-PBM clients. And so that's where we're really seeing that diversified growth. So you're just seeing that show up in continued, consistent performance in that business through the quarter.
然後,我們的前沿和輸液服務真正推動了這些特殊藥物在家庭中的應用,我們看到我們的 PBM 客戶以及非 PBM 客戶對此的持續需求。這就是我們真正看到多元化成長的地方。因此,您將看到這一點體現在整個季度該業務持續、一致的業績中。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Heather, thank you. Erin. Thanks so much for the question. We have time for one final question, please.
希瑟,謝謝你。艾琳。非常感謝您的提問。我們有時間回答最後一個問題。
Operator
Operator
Lance Wilkes, Bernstein.
蘭斯威爾克斯,伯恩斯坦。
Lance Wilkes - Analyst
Lance Wilkes - Analyst
Great. Thanks. For Optum Health, could you talk a little bit about what pricing has been like there? And in Investor Day, it seemed like you may have seen some improved pricing as far as global cap rates, and likewise, given higher global cap rates out of the MA business. I was wondering if '25, we should be expecting continued improvement in that or whether there needs to be a retrenchment or retracing of that to kind of make up for what was given? And also, are you starting to exclude things from global cap as you look at 2025? Thanks.
偉大的。謝謝。對於 Optum Health,您能談談那裡的定價情況嗎?在投資者日,您可能會看到全球資本化率的定價有所改善,同樣,考慮到 MA 業務的全球資本化率更高。我想知道 25 年後,我們是否應該期待這方面的持續改進,或者是否需要進行緊縮或回溯以彌補所給予的?而且,在展望 2025 年時,您是否開始將某些內容排除在全球上限之外?謝謝。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Hey, Lance, thanks for the question. And love the cheeky attempt at the end call together to predict -- give you some numbers for '25. We're going to defer from that but well done on the last ditch effort. I'm going to ask Amar to give you a little bit more of a kind of general sense of how we're seeing that. And please go ahead, Amar.
嘿,蘭斯,謝謝你的提問。並喜歡最後厚顏無恥地嘗試召集在一起進行預測——給你一些 25 歲的數字。我們將推遲這一點,但在最後的努力中做得很好。我將請阿馬爾向您提供更多關於我們如何看待這一問題的一般性了解。請繼續,阿瑪爾。
Amar Desai - CEO of Optum Health
Amar Desai - CEO of Optum Health
Thanks for the question, Lance. Look, we continue to have very strong relationships across our over 100 plan partners. And in fact, in a pretty dynamic rate and benefit environment, we've seen increased outreach from payers looking for an enduring partner that's very adept at operating within fully capitated value-based arrangements. In particular, the discussions have been productive around benefit design, funding, market level planning, and we're confident in the position as we go into 2025. We're down the path in adding plan partners as well as adding geographies for 2025.
謝謝你的提問,蘭斯。看,我們與 100 多個計劃合作夥伴繼續保持著非常牢固的關係。事實上,在一個相當動態的費率和福利環境中,我們看到付款人越來越多地尋找持久的合作夥伴,該合作夥伴非常擅長在完全資本化的基於價值的安排下運作。特別是,圍繞效益設計、資金、市場層面規劃的討論富有成效,我們對進入 2025 年的情況充滿信心。
Foundational within that to those relationships, and as we think about the arrangements is quality, quality of care of our providers that are anchored in the community, our strong ability to drive clinical outcomes, improvements and achievement in star measures and, of course, strong documentation and diagnosis. We also are seeing that the strength of our network that's aligned in geographies is an important focus area for plan and partners and, of course, continued focus on clinical engagement, which I mentioned previously.
這些關係的基礎,正如我們所考慮的安排是質量,我們紮根於社區的提供者的護理質量,我們推動臨床結果、星級措施的改進和成就的強大能力,當然還有強大的能力記錄和診斷。我們也看到,我們的網路在地理位置上的優勢是計劃和合作夥伴的一個重要重點領域,當然,繼續關注我之前提到的臨床參與。
So when you take that together, great momentum across those areas, gives us confidence as we drive value for our plan partners and as we pace through the next two years of the risk model changes and grow.
因此,當您綜合考慮時,這些領域的巨大勢頭給了我們信心,讓我們為計劃合作夥伴創造價值,並在未來兩年的風險模型變化和發展中穩步前進。
Andrew Philip Witty - CEO & Non-Independent Director
Andrew Philip Witty - CEO & Non-Independent Director
Amar, thank you very much. And as I think you can probably sense from those couple of answers that Amar has given you over the course of the call. Amar leads a very, very special team of people running a very, very special business in terms of what it's able to do on behalf of patients and the way it's able provide great work experience for the health care professionals and colleagues who work in that business. I'm very pleased with how the continuation of that business progresses.
阿瑪爾,非常感謝你。我認為您可能可以從阿瑪爾在通話過程中給您的這幾個答案中感受到。阿瑪爾領導著一支非常非常特殊的團隊,經營著一家非常非常特殊的企業,無論是代表患者做的事情,還是為在該企業工作的醫療保健專業人員和同事提供良好的工作經驗。我對該業務的持續進展感到非常滿意。
We're coming towards the end of the call, I'd like to thank you all for your questions this morning. As you've heard, our focus on fundamental execution, our restless spirit and our ability to adapt to changing environments gives us great confidence as we look ahead and as a testament to the hard work and discipline of the people of UnitedHealth Group who work every day to serve patients, consumers and care providers, customers efficiently and effectively. We appreciate your time this morning. Thank you.
我們的通話即將結束,我想感謝大家今天早上提出的問題。正如您所聽說的,我們對基本執行力的關注、我們永不停歇的精神以及我們適應不斷變化的環境的能力,讓我們在展望未來時充滿信心,也證明了聯合健康集團員工的辛勤工作和紀律,他們每時每刻都在努力工作。我們非常感謝您今天早上的寶貴時間。謝謝。
Operator
Operator
This does conclude today's conference. We thank you for your participation.
今天的會議到此結束。我們感謝您的參與。