Minnetonka, Minn.-based UnitedHealth Group reported 12 percent year-over-year growth in revenues for the third quarter, reaching $56.6 billion, while Eden Prairie, Minn.-based Optum's revenues grew by $2.5 billion year-over-year to reach $25.4 billion.
Here are four quotes and insights from the company's the third-quarter earnings call, as transcribed by SeekingAlpha:
1. CEO David Wichmann on growth in revenues and earnings per share: "These results are grounded and persistently applying three core competencies; information, technology, and clinical insights across our businesses. At no time in our history has our work in these three competencies held more promise than today as they powerfully combine to unlock healthcare value for those we serve."
2. Mr. Wichmann on supporting consumers' individual healthcare needs and ensuring best practices through personalized data: "We increasingly do this through employed and affiliated integrated care teams, and in more ambulatory care settings sharing this knowledge at critical points of decision making."
3. Optum CEO Andrew Witty on drivers of third-quarter growth: "Earnings from operations grew $334 million or nearly 20 percent to $2 billion with strength across OptumHealth, OptumInsight, and OptumRx. This continues a long-standing trend of proportionally greater Optum earnings in the second half of the year and positions us well for 2019. ... Growth at OptumHealth continued to be led by the development of the care delivery businesses as a primary care driven ambulatory care system."
4. Mr. Witty on the OptumCare platform's market share: "OptumCare provides primary care in 35 priority markets and serves 80 health plans and 14 million people, up 2.6 million patients or 23 percent compared to a year ago. Patient growth was driven by increases in our high-value sites of service businesses and growth in our existing primary care markets. And yet, many of our local efforts remain in an early investment stage. Building out this high-performing ambulatory care system will occupy for the next decade as we progressively deliver significantly improved outcomes, quality, and value to patients."
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