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Analyst
Whit Mayo
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters; questions recorded in 6).
- Questions
- 15on tracked calls
- Challenge rate
- 0%none of 15 questions
- Companies
- 4questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 15 of 15 questions from 4 companies
HCAHCA Healthcare6 questions · 6 reporting periods · 0 of 6 challenging
Calendar 2026 Q2
I just wanted to get an update on the internal views on work requirements for 2027.
Show response
Marks sized the exposure by expansion versus non-expansion states and described the coverage benefit support teams being prepared, without quantifying the headwind.
Calendar 2025 Q4
You guys have been working on some digital efforts with payers recently. I think at least some of the large national ones around data and disputes. Can you maybe talk about that
Show response
Mike described electronic data exchange and administrative simplification partnerships with major payers. Net days in AR improved in Q4. Sam framed resiliency as cultural, not episodic, a maturation of HCA's cost effectiveness DNA.
Calendar 2025 Q3
I was wondering how you guys are thinking about capital deployment for next year. Obviously, you have the capacity to increase buybacks or the dividend
Show response
Sam deferred 2026 capital allocation specifics pending planning completion and federal policy clarity. Signaled consistency with historical balanced approach across growth CapEx, buybacks, and dividends.
Calendar 2025 Q2
Just wondering if there are any changes that you guys are seeing in MA behavior or denials, anything to call out that's maybe changed versus last year?
Show response
Mike confirmed MA at 58% of Medicare admissions, Two-Midnight Rule fully absorbed. No significant denial impact. Initiated partnership activities with key payers on digital integration and administrative simplification.
Calendar 2025 Q1
Just was wondering if you guys have detected any changes with MA plan behavior or denials, any dispute resolution changes, and any changes on length of stay
Show response
Mike noted no additional Two-Midnight movement, MA observation mix still 15% higher than traditional, denials not material. On tariffs, gave 75% US/Canada/Mexico/exempt sourcing detail.
Calendar 2024 Q4
I just wanted to hear maybe some of the internal initiatives that may be moving to the forefront this year. I feel like you guys have been talking a lot about throughput, ER optimization
Show response
Both Mike and Sam gave extensive detail on case management, ER optimization, OR revitalization, labor improvements, and AI initiatives. Comprehensive answer.
HUMHumana5 questions · 5 reporting periods · 0 of 5 challenging
Calendar 2026 Q2
remind us what the margin growth is that you'd historically expect to see from this year's new members
Show response
Described the two mechanics of second-year lift qualitatively, including the 2x first-year acquisition cost, but gave no historical magnitude.
Calendar 2025 Q4
any meeting changes to your provider contracting strategy year?
Show response
James described multiple provider relationship improvements: prior authorization reform reducing volume and increasing automation, paying rural and non-rural provider claims on average under 15 days. Dedicated teams focused on reducing provider abrasion since providers are often the face of Humana to members.
Calendar 2025 Q3
I was just wondering if you guys had any views on the changes to the reward factor to EHO for all
Show response
George confirmed good progress on social risk factors with week-over-week improvement. Good mix of low-income membership including duals. Even with H5216 deconsolidation, should be in good shape.
Calendar 2025 Q2
any updated thoughts on RADV, whether you have to make assumptions and bids around prospective CMS clawbacks
Show response
James declined to provide color citing litigation limits and many unknowns. George added HUM supports auditing as long as it accounts for actuarial equivalence.
Calendar 2024 Q4
just wanted to get an update on expectations for Part D seasonality this year given all the changes this year and the higher deductibles
Show response
George detailed PDP strategy: pricing for margin, participating in premium stabilization demo, expecting ~200K member growth vs prior flat expectation. Celeste laid out four seasonality drivers including IRA, benefit design changes, calendar, and investment timing.
ELVElevance Health3 questions · 3 reporting periods · 0 of 3 challenging
Calendar 2025 Q2
Maybe just an update on where you think you are around commercial margins now in light of all the commentary
Show response
Mark confirmed strong large group commercial margin recovery continuing. Morgan added market hardening on fully insured pricing with strong July renewal retention. Overall commercial margin slightly down from ACA.
Calendar 2025 Q1
are you seeing any different trends with care activity or utilization patterns versus individual MA, not versus your expectations per se, but just anything different about group MA
Show response
Mark confirmed no meaningful acceleration in Group MA cost trends, which represents ~15% of total MA enrollment. Trends elevated but in line with expectations.
Calendar 2024 Q4
I just wanted to get a quick update on the performance of your Puerto Rico MA business. How did that perform last year versus your targets
Show response
Felicia confirmed Puerto Rico MA stabilization strategy worked well in 2024, with significant supplemental benefit reductions enabling margin-membership balance continuing into 2025.
UNHUnitedHealth Group Incorporated1 question · 1 reporting period · 0 of 1 challenging
Calendar 2026 Q2
I just wanted to take your temperature on Stars. I'm not sure if you can comment on expectations or what you know
Show response
Bobby declined to comment on Star year 26 or 27 outcomes given the cycle and litigation, offering only process commentary about partnering with CMS.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| HCA HCA Healthcare | 6 | 0%none of 6 questions |
| HUM Humana | 5 | 0%none of 5 questions |
| ELV Elevance Health | 3 | 0%none of 3 questions |
| UNH UnitedHealth Group Incorporated | 1 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 3 | 0%none of 3 questions | 3 |
| 2025 Q1 | 2 | 0%none of 2 questions | 2 |
| 2025 Q2 | 3 | 0%none of 3 questions | 3 |
| 2025 Q3 | 2 | 0%none of 2 questions | 2 |
| 2025 Q4 | 2 | 0%none of 2 questions | 2 |
| 2026 Q1 | No questions recorded | — | — |
| 2026 Q2 | 3 | 0%none of 3 questions | 3 |
- 2024 Q43 questions · challenge rate 0% (none of 3 questions) · 3 companies
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q23 questions · challenge rate 0% (none of 3 questions) · 3 companies
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2026 Q1No questions recorded
- 2026 Q23 questions · challenge rate 0% (none of 3 questions) · 3 companies
Topics
Topics tagged on this analyst’s questions.
- Regulation Policy7
- Pricing4
- Cost Pressure4
- Margin3
- Subscriber Growth2
- Innovation & R&D2
- Competitive Dynamics2
- Demand1
- Guidance Reliability1
- Capital Allocation1
Show all 11 topics
- Geographic Expansion1