Andrew Witty
Chief Executive Officer at UnitedHealth Group
Thank you. Good morning and thank you all for joining us today. As we approach the final stretch of 2022, let me start by recognizing our colleagues, the people of Optum and UnitedHealthcare, who continue to work diligently day in and day out for those we serve. Their efforts allow us to deliver durable and balanced growth and to increase our 2022 adjusted earnings outlook to a range of $21.85 to $22.05 per share. As an enterprise, we remain focused on our mission and on advancing our growth strategies. Our aim is to serve more people through value-based care and expanded health benefits offerings, a robust foundation on which to consistently drive strong growth into 2023 and beyond.
Consumers want value, especially in the current economic environment, and that means high-quality care that is more accessible, more affordable, and more responsive to their individual needs. In the past quarter, we've accelerated efforts to deliver on this critical consumer proposition, launching several initiatives to reach more people in more communities while deepening relationships with those we already serve.
For example, in September, we announced the long-term collaboration with Walmart to provide Optum technology and expertise that will enable America's largest retailer to provide value-based care to consumers in its clinics. Starting in 2023, we will jointly develop 15 Walmart Health clinics in Florida and Georgia and will extend into additional geographies over time. As we expand the collaboration, there will be broad opportunities to address social determinants of health by improving access to benefits such as healthy foods, medications, dental and vision services, and more.
We also launched a distinctive partnership with Red Ventures, a digital media company connecting tens of millions of consumers each month to its clients, products, and services through a broad portfolio of proprietary digital content platforms. This partnership, called RVO Health, combines Red Ventures' popular health and wellness platforms, including Healthline and Healthgrades with Optum's consumer marketplace, the Optum Store, and the Optum Perks prescription discount card. RVO Health will enable us to engage with more than 100 million active monthly visitors seeking the health advice and insights they need, introducing them to relevant products and services through a customized end-to-end digital platform.
Affordability is an essential component of value in healthcare, especially when it determines access to the lifesaving medicines people need for themselves and their families. In July, we announced zero consumer cost share on drugs for diabetes, severe allergic reactions, and other emergency situations, starting in January, for those we serve with commercial insured benefits. Now we are working with self-funded employers who are exploring how they can provide these vital medications for zero copay. So far this benefit will be available to more than 1 million additional people, and we are actively engaging with many additional employers. We're also improving access to essential medicines for those even without health benefits coverage. For example, Optum Store launched a new partnership with Sanofi to help consumers without insurance, obtain insulin for $35 a month, and they will be able to have it delivered to their home.
Turning to health benefits. Today nearly half of American seniors are enrolled in Medicare Advantage plans compared to about 25% a decade ago. And MA plays a vital role in serving those consumers who are significantly more diverse, have lower incomes and more complex care needs than the average senior. There are compelling reasons why seniors increasingly choose MA.
Through Medicare Advantage, people are experiencing better health outcomes than in traditional fee-for-service Medicare across a wide spectrum of measures. For example, MA members with diabetes have over 50% lower rates of any category of complication and over 70% lower rates of serious complication. This is due to our ability to provide deeper, more coordinated levels of care, and this is accomplished at lower cost. People served by MA spend as much as 40% less compared to those in Medicare fee for service, and this high value for people is delivered at a lower net cost to the government. We are confident our differentiated offerings will once again this year resonate with consumers who are even more focused on affordability, value, and simplicity given the rising cost of daily life.
Today in the United States, more people than ever have access to health benefits, an important milestone on the path towards universal coverage, an objective we have long supported. Much of this expanded coverage has occurred in Medicaid. Looking to 2023, and given the potential resumption of eligibility redeterminations next year, a high priority for our team is assuring continuity of access and care for those we serve. The initiatives our team is pursuing to help assure continuous coverage include: launching direct outreach and partnering with states and community organizations to identify those at risk and help them retain their benefit coverage; partnering with national retailers and pharmacies to educate consumers about available coverage options and assistance while they are shopping in store; and engaging with employers to extend annual enrollment periods and drive education efforts to employees who are eligible for coverage.
Underpinning our growing consumer agenda is an ambitious multiyear effort to deepen and expand our enterprise technology capabilities. The recent combination of Optum Insight and Change Healthcare reflects our accelerating efforts to help create more effective and simpler experiences for consumers, payers, and care providers while lowering costs across the health system. I want to formally welcome our newest colleagues, a talented and compassionate team at Change Healthcare with whom we have just started working to build upon our shared vision for a more effective and adaptive health system for all participants.
With that, I'll turn it over to President and Chief Operating Officer, Dirk McMahon.
