United Healthcare 2013 Annual Report Download - page 18

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and regulation by Brazilian regulators including the national regulatory agency for private health insurance and
plans, the Agência Nacional de Saúde Suplementar (ANS), whose approach to the interpretation, implementation
and enforcement of industry regulations could differ from the approach taken by U.S. regulators. In addition, our
non-U.S. businesses and operations are subject to U.S. laws that regulate the conduct and activities of U.S.-based
businesses operating abroad, such as the Foreign Corrupt Practices Act, which prohibits offering, promising,
providing or authorizing others to give anything of value to a foreign government official to obtain or retain
business or otherwise secure a business advantage.
COMPETITION
As a diversified health and well-being services company, we operate in highly competitive markets. Our
competitors include managed health care companies, insurance companies, HMOs, TPAs and business services
outsourcing companies, health care professionals that have formed networks to contract directly with employers
or with CMS, specialty benefit providers, government entities, disease management companies, and various
health information and consulting companies. For our UnitedHealthcare businesses, our competitors include
Aetna Inc., Cigna Corporation, Health Net, Inc., Humana Inc., Kaiser Permanente, WellPoint, Inc., numerous
for-profit and not-for-profit organizations operating under licenses from the Blue Cross Blue Shield Association,
and, with respect to our Brazilian operations, several established competitors in Brazil, and other enterprises that
serve more limited geographic areas. For our OptumRx businesses, our competitors include CVS Caremark
Corporation, Express Scripts, Inc. and Catamaran Corporation. New entrants into the markets in which we
compete, as well as consolidation within these markets, also contribute to a competitive environment. We
compete on the basis of the sales, marketing and pricing of our products and services; product innovation;
consumer engagement and satisfaction; the level and quality of products and services; care delivery; network and
clinical management capabilities; market share; product distribution systems; efficiency of administration
operations; financial strength; and marketplace reputation. If we fail to compete effectively to maintain or
increase our market share, including maintaining or increasing enrollments in businesses providing health
benefits, our results of operations, financial position and cash flows could be materially and adversely affected.
See Item 1A, “Risk Factors,” for additional discussion of our risks related to competition.
INTELLECTUAL PROPERTY RIGHTS
We have obtained trademark registration for the UnitedHealth Group, UnitedHealthcare and Optum names and
logos. We own registrations for certain of our other trademarks in the United States and abroad. We hold a
portfolio of patents and have patent applications pending from time to time. We are not substantially dependent
on any single patent or group of related patents.
Unless otherwise noted, trademarks appearing in this report are trademarks owned by us. We disclaim
proprietary interest in the marks and names of others.
EMPLOYEES
As of December 31, 2013, we employed approximately 156,000 individuals.
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