UnitedHealth Group (NYSE: UNH) is making value-based care the centerpiece of its long-term strategy, and home-based care is a key piece of that puzzle.

“[Value-based care] delivers on the promise of high-quality clinical outcomes and experiences at lower cost than traditional models,” UnitedHealth Group CEO Andrew Witty said during the company’s third-quarter earnings call Friday.

UnitedHealth Group projects that OptumHealth — the company’s health care services arm — will serve over 4 million people in fully accountable relationships this year, which is roughly twice as many people it served two years ago, according to Witty.

Since many of these people are individuals with serious health challenges and limited economic resources, UnitedHealth Group is focused on designing personalized care plans in order to improve outcomes.

With this in mind, the company has made major investments to build out its home-based care capabilities.

“We’re advancing our ability to care for people in their homes and integrating that physical care with our pharmacy and behavioral offerings,” Witty said. “This work means developing an even more versatile clinical workforce to serve consumers in more ways through clinic-based Optum care delivery capabilities and extending our reach to consumers, who may not have ready access to physical clinics.”

In recent years, UnitedHealth Group has established itself as a major player in the home-based care space.

In 2021, UnitedHealth Group’s Optum purchased Landmark, and in 2023, it acquired Prospero Health.

What’s more, Optum acquired the home health LHC Group in a $5.4 billion transaction at the start of the year.

Additionally, the company plans to acquire Amedisys Inc. (Nasdaq: AMED), which would give it two of the largest home health companies in the U.S.

During the call, UnitedHealth Group also touched on its Medicare Advantage (MA) business, and the MA landscape more broadly.

“Medicare Advantage continues to be a powerful force in driving superior health outcomes for consumers and in helping to lower costs at the system level,” Witty said. “Today, about half of all seniors in the U.S. have chosen [MA] over traditional Medicare, and that number will continue to expand for very good reasons. The results are well documented. [MA] outperforms traditional fee-for-service for seniors on many measures, including lower rates of hospitalization. They spend up to 45% less out of pocket, compared to those in Medicare fee for service.”

Witty noted that UnitedHealth Group serves more people in “high quality, four-star and higher” MA plans than any other organization.

“Looking toward the 2024 enrollment period, which begins Sunday, we’re confident our offerings will again resonate with consumers as they prioritize high-quality care and stable benefits,” he said.

The company is expected to serve almost 1 million new consumers across UnitedHealthcare’s MA offerings by the end of the year.

Overall, revenue for UnitedHealth Group was $92.4 billion for the third quarter, a 14% year-over-year increase.

Optum revenues grew by 22% to $56.7 billion in Q3, compared to $46.6 billion during the same period last year.