United Healthcare 2013 Annual Report Download - page 39

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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
The following discussion should be read together with the accompanying Consolidated Financial Statements and
Notes to the Consolidated Financial Statements thereto. Readers are cautioned that the statements, estimates,
projections or outlook contained in this report, including discussions regarding financial prospects, economic
conditions, trends and uncertainties contained in this Item 7, may constitute forward-looking statements within
the meaning of the PSLRA. These forward-looking statements involve risks and uncertainties that may cause our
actual results to differ materially from the expectations expressed or implied in the forward-looking statements.
A description of some of the risks and uncertainties can be found further below in this Item 7 and in Item 1A,
“Risk Factors.”
EXECUTIVE OVERVIEW
General
UnitedHealth Group is a diversified health and well-being company dedicated to helping people live healthier
lives and making the health system work better for everyone. We offer a broad spectrum of products and services
through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and
Optum, which provides information and technology-enabled health services.
We have four reportable segments across our two business platforms, UnitedHealthcare and Optum:
• UnitedHealthcare, which includes UnitedHealthcare Employer & Individual, UnitedHealthcare Medicare &
Retirement, UnitedHealthcare Community & State and UnitedHealthcare International;
• OptumHealth;
• OptumInsight; and
• OptumRx.
Further information on our business and reportable segments is presented in Item 1, “Business” and in Note 13 to
the Consolidated Financial Statements in Item 8, “Financial Statements.”
2014 Business Realignment. On January 1, 2014, we realigned certain of our businesses to respond to changes in
the markets we serve and the opportunities that are emerging as the health system evolves. Our Optum business
platform took responsibility for certain technology operations and business processing activities with the
intention of pursuing additional third-party commercial opportunities in addition to continuing to serve
UnitedHealthcare. These activities, which were historically a corporate function, will be included in
OptumInsight’s results of operations. Our periodic filings with the SEC beginning with our first quarter 2014
Form 10-Q will include historical segment results restated to reflect the effect of this realignment and will
continue to present the same four reportable segments (UnitedHealthcare, OptumHealth, OptumInsight and
OptumRx).
Business Trends
Our businesses participate in the U.S., Brazilian and certain other international health economies. In the United
States, health care spending comprises approximately 18% of gross domestic product and has grown consistently
for many years. We expect overall spending on health care to continue to grow in the future, due to inflation,
medical technology and pharmaceutical advancement, regulatory requirements, demographic trends in the
population and national interest in health and well-being. The rate of market growth may be affected by a variety
of factors, including macro-economic conditions and regulatory changes, including enacted health care reforms
in the United States, which could also impact our results of operations.
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