UnitedHealth Group Incorporated (NYSE:UNH) Q4 2023 Earnings Conference Call January 12, 2024 8:45 AM ET

Company Participants

Andrew Witty - Chief Executive Officer

Dirk McMahon - President and Chief Operating Officer

John Rex - Chief Financial Officer

Tim Noel - Chief Executive Officer, Medicare & Retirement

Heather Cianfrocco - Chief Executive Officer Optum Rx

Amar Desai - Chief Executive Officer, OptumHealth Organization

Brian Thompson - Chief Executive Officer, UnitedHealthcare

Patrick Conway - Chief Executive Officer, OptumRx

Conference Call Participants

Justin Lake - Wolfe Research

Josh Raskin - Nephron Research

A.J. Rice - UBS

Lisa Gill - J.P. Morgan.

Stephen Baxter - Wells Fargo

Lance Wilkes - Bernstein

Kevin Fischbeck - Bank of America

Scott Fidel - Stephens

Erin Wright - Morgan Stanley

Nathan Rich - Goldman Sachs

Gary Taylor - Cowen

Operator

Good morning and welcome to the UnitedHealth Group Fourth Quarter and Full-Year 2023 Earnings Conference Call. A question-and-answer session will follow UnitedHealth Group's prepared remarks. As a reminder, this call is being recorded.

Here is some important introductory information. This call contains forward-looking statements under U.S. 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. A description of some of the risks and uncertainties can be found in the reports that we file 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 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 contained in the earnings release will be issued -- we issued this morning in our Form 8-K dated January 12, 2024, which may be accessed from the Investor Relations page of the company's website.

I will now turn the conference over to the Chief Executive Officer of UnitedHealth Group, Andrew Witty.

Andrew Witty

Thank you and good morning and thank you all for joining us today. As we conclude 2023 and embark on a new year, I'd like to express my gratitude to our more than 400,000 talented colleagues, who really were UnitedHealth Group. It's directly due to their tireless efforts over the past year that we expanded our opportunities to serve more people, more comprehensively. As I reflect on our 2023 performance, certainly, the shift in care activity among seniors was an important element for us to manage effectively, and the reduced Medicare Advantage funding outlook was a significant influence on how we prepared for 2024 and all the way through to 2026.