Welcome to our dedicated page for Centene Corporation news (Ticker: CNC), a resource for investors and traders seeking the latest updates and insights on Centene Corporation stock.
Centene Corporation (NYSE: CNC), a Fortune 500 company, is a diversified, multi-national healthcare enterprise that provides a portfolio of services to government-sponsored healthcare programs. The company focuses on under-insured and uninsured individuals, offering benefits under Medicaid, including the State Children's Health Insurance Program (CHIP), aged, blind or disabled (ABD), foster care, long-term care (LTC), and other state-sponsored/hybrid programs as well as Medicare (special needs plans).
Centene operates local health plans and offers an array of health insurance solutions. It contracts with other healthcare and commercial organizations to deliver specialty services including behavioral health management, care management software, correctional healthcare services, dental benefits management, in-home health services, life and health management, managed vision, pharmacy benefits management, specialty pharmacy, and telehealth services. As of June 2023, Centene served approximately 24 million medical members, with a significant portion enrolled in Medicaid (67%), individual exchanges (14%), and Medicare Advantage (6%) plans.
Recently, Centene has been recognized for its contributions in tackling social issues. For instance, on April 8, 2024, Health Net, a Centene subsidiary, contributed $1.3 million to the Mayor's Fund for Los Angeles' We Are LA program, which aims to prevent evictions and combat homelessness. The program has served over 32,000 individuals and families, helping them avoid eviction and maintain stable housing. Moreover, Centene's financial results for the first quarter of 2024 highlighted the company's robust performance, with medical claims liabilities totaling $18.1 billion and a strategic plan for growth focused on increasing access to affordable, high-quality healthcare.
Furthermore, Centene has entered into significant partnerships to improve healthcare accessibility. For example, in Uvalde, Texas, Centene's subsidiary Superior HealthPlan invested $250,000 to allow students access to virtual healthcare through Hazel Health until the 2028–2029 school year. The company has also initiated the MHS Serves program in Indiana, a $12 million health equity initiative aimed at reducing health disparities.
Centene continues to innovate and expand its healthcare solutions, ensuring that under-insured and uninsured individuals receive comprehensive healthcare services. The company's latest strategic moves and partnerships underscore its commitment to transforming healthcare delivery and improving health outcomes for millions of Americans.
Meridian, a managed care organization in Michigan and a Centene company (NYSE: CNC), has partnered with Mae to improve maternal outcomes and reduce disparities across the state. The partnership aims to provide supplementary support for Medicaid members during pregnancy and postpartum, connecting them with over 50 Michigan-based doulas for virtual and in-person support.
Key points:
- Meridian is responsible for nearly 10% of all births in Michigan
- Black women in Michigan are more than twice as likely to die from maternal-related complications compared to white women
- Doula services have been shown to reduce cesarean births, shorten labor duration, and improve spontaneous vaginal birth rates
- The partnership addresses the rise in maternity care deserts, with 16% of Black babies born in areas with or no access to maternity care services
Health Net, a Medi-Cal managed care health plan and subsidiary of Centene (NYSE: CNC), is providing special assistance to members affected by the Bridge and Airport fires in Southern California. This comes in response to Gov. Gavin Newsom's declared state of emergency in Los Angeles, Orange, Riverside, and San Bernardino counties.
The company is ensuring uninterrupted access to essential prescription medications, critical information, and healthcare services. Members can obtain emergency medication supplies, access behavioral health services for coping support, and use telehealth services at no cost. Health Net is also assisting healthcare providers with emergency prescription refills, expedited approvals, and out-of-network treatment authorizations when necessary.
Superior HealthPlan, a Centene (NYSE: CNC) company, has invested $43.3 million in extra Medicaid and CHIP benefits from 2019 to 2023. These Value-added Services provide additional support for low-income families across all 254 Texas counties. The extra benefits include:
- Up to $250 annually in dental benefits for pregnant members 21 and over
- Up to $35 per year for school or sports physicals for members 4-18 years old
- Up to $30 quarterly for over-the-counter items
- Asthma Care Management program with allergy-free bedding
- Companion pets for Behavioral Health Disease Management participants
Over five years, nearly half of the spending ($15.5 million) was on vision care, followed by $12 million on over-the-counter items and $11 million on dental care.
Centene (NYSE: CNC) has been named one of the Best Workplaces in Health Care 2024™ by Fortune magazine for the third consecutive year. This recognition in the Large Company category highlights Centene's commitment to fostering a positive workplace culture and delivering quality care to its 28.5 million members.
The ranking is based on confidential employee surveys conducted by Great Place to Work®, assessing factors such as workplace experience, trust in management, and collegial culture. Centene's success is attributed to its innovative talent programs, strong employee engagement efforts, and unique benefit offerings that support employees' whole health and professional development.
CEO Sarah M. London emphasized the importance of the company's 'One CenTeam' culture in delivering compassionate care to members and communities nationwide. Centene's workplace culture promotes transparency, openness, and integrity, encouraging employees to leverage their unique perspectives and skills.
Centene (NYSE: CNC), a leading healthcare enterprise, has announced its participation in the Bank of America 2024 Global Healthcare Conference in London. The company is scheduled to present on Wednesday, September 18, 2024, at 5:50 am EDT / 10:50 am BST.
A live audio webcast of the presentation will be available simultaneously at the provided link. For those unable to attend in real-time, a webcast replay will be accessible on Centene's official website, www.centene.com, under the Investors section following the presentation.
This event provides an opportunity for investors and analysts to gain insights into Centene's strategies, performance, and outlook within the global healthcare landscape.
WellCare of North Carolina, a Medicaid health plan and Centene (NYSE: CNC) subsidiary, has donated $100,000 to support Camp HOPE America across nine Family Justice Centers in North Carolina. The funds will aid a week-long overnight camp for youth affected by domestic violence and trauma. This donation is part of WellCare's ongoing community support initiatives, which include a $1.95 million investment in The Umbrella Center and support for The Hope Center at Pullen's Effective Communication and Life Skills Workshop. WellCare has also implemented a microgrant program with Communities in Schools of North Carolina to enhance family engagement in high-risk areas.
Centene 's Iowa subsidiary, Iowa Total Care, has been awarded a four-year contract by the Iowa Department of Health and Human Services to continue providing Medicaid managed care services under the Iowa Health Link program. The contract, set to begin on July 1, 2025, with a possible two-year extension, covers Iowa Medicaid, the Iowa Health and Wellness Plan, and Healthy and Well Kids in Iowa (Hawki).
Iowa Total Care will continue serving over 218,600 members across 99 counties, offering coordinated physical, behavioral, and long-term care. The new contract includes an expansion of home and community-based services. Iowa Total Care is one of three managed care organizations selected for this program.
Centene (NYSE: CNC), a leading healthcare enterprise, has announced its participation in the 2024 Wells Fargo Healthcare Conference. The company is scheduled to present on Wednesday, September 4 at 8:45 a.m. Eastern Daylight Time (EDT).
Interested parties can access a live audio webcast of the presentation through a provided link. For those unable to attend the live event, a webcast replay will be made available on Centene's official website, www.centene.com, in the Investors section following the presentation.
This conference appearance provides an opportunity for Centene to showcase its commitment to helping people live healthier lives and to engage with investors and industry professionals.
AcariaHealth, a Centene company (NYSE: CNC), has announced the relocation of its Homescripts pharmacy to a new 33,000 square foot facility in Shelby Township, Michigan. This move emphasizes AcariaHealth's commitment to enhancing patient care, empowering employees, and engaging with the community. Homescripts specializes in free goods programs for patients with complex medical conditions, offering services such as Patient Assistance, Bridge, Interim, and Replacement to overcome medication adherence barriers.
The new facility will provide ample space for business and pharmacy operations, supporting patients with conditions like multiple sclerosis, Alzheimer's disease, and myasthenia gravis. This relocation is part of AcariaHealth's strategy to transform lives through compassionate care and innovative services, while also allowing for future growth and expansion to meet patient and client needs.
L.A. Care Health Plan and Health Net have announced a $90 million commitment over five years to launch two innovative healthcare programs for those experiencing homelessness in L.A. County. The initiative includes:
1. The L.A. County Field Medicine Program ($60 million): Delivers preventive and urgent healthcare, chronic disease management, and social services to members in their lived environments.
2. The Skid Row Care Collaborative ($30 million): Provides enhanced services and additional facilities on Skid Row, including a new health campus.
These programs aim to assist approximately 85,000 Angelenos, addressing the complex healthcare needs of the unhoused population. The funding is part of California's Housing and Homelessness Incentive Program (HHIP), with L.A. Care contributing 70% and Health Net 30% of the total investment.
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