The number of consumers served with domestic commercial benefit offerings grew 665,000 in the first quarter 2023 compared to year-end 2022, reflecting continued focus on innovative, affordable, consumer-centric benefit plans. In the first quarter of 2023, UnitedHealthcare grew to serve nearly 2 million more people than a year ago, with broad-based growth across the company’s commercial, community-based and senior benefit offerings. UnitedHealthcare first quarter revenues grew 13% to $70.5 billion and operating earnings grew 14% to $4.3 billion, reflecting growth in the number of people served. UnitedHealthcare is dedicated to improving the value customers and consumers receive by improving health and wellness, enhancing the quality of care received, simplifying the health care experience and reducing the total cost of care. UnitedHealthcare provides health care benefits globally, serving individuals and employers, and Medicare and Medicaid beneficiaries. Return on equity of 28.2% in the quarter reflected the company’s consistent and diverse earnings profile and efficient capital structure. The company returned $3.5 billion to shareholders in the first quarter through dividends and share repurchases. Excluding the impact of April CMS payments received at the end of March, adjusted cash flows from operations were $5.1 billion or 0.9-times net income, consistent with the company’s outlook. The first quarter 2023 operating cost ratio of 14.8% increased from 14.2% in 2022 due to business mix and the company’s continued investments to accelerate and support future growth opportunities, partially offset by continued productivity advances.Ĭash flows from operations for the first quarter 2023 were $16.3 billion or 2.8-times net income. Favorable medical reserve development in the first quarter of $470 million compared to $620 million in the fourth quarter 2022 and $290 million in the year ago first quarter. Days claims payable were 47.8, compared to 49.9 in the fourth quarter 2022 and 49.1 in the first quarter 2022. The first quarter 2023 medical care ratio at 82.2% compared to 82% last year, due to business mix.
Year-over-year earnings growth was led by Optum Health as a result of its growing positive impact in serving patients with value-based care services. UnitedHealth Group’s first quarter 2023 revenues grew 15% to $91.9 billion year-over-year, including diversified double-digit growth at both Optum and UnitedHealthcare.įirst quarter 2023 earnings from operations were $8.1 billion, an increase of 16%, with strong contributions from both Optum and UnitedHealthcare.
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