Centene Subsidiary Louisiana Healthcare Connections Selected to Continue Serving Louisiana's Medicaid Managed Care Program Statewide
Centene Corporation (NYSE: CNC) announced that its subsidiary, Louisiana Healthcare Connections, has been selected to continue providing integrated healthcare services for Louisiana's Medicaid program starting July 1, 2022. The renewed statewide contract enables Louisiana Healthcare Connections to serve over 540,000 Medicaid enrollees and introduces new benefits aimed at improving healthcare access, including community-based maternity services and support for social determinants of health. The contract spans three years, with an option for a two-year extension.
- Continued partnership with the Louisiana Department of Health enhances revenue stability.
- Introduction of new benefits and services is expected to improve member satisfaction.
- Contract provides a stable three-year revenue stream with potential for extension.
- None.
ST. LOUIS, Feb. 14, 2022 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today its subsidiary Louisiana Healthcare Connections was selected by the Louisiana Department of Health to continue administering quality, integrated healthcare services to Medicaid enrollees across the state. The new statewide contract is anticipated to begin July 1, 2022.
"We are honored by the opportunity to continue working with our state partners to help build a healthier Louisiana," said Brent Layton, Centene's President and Chief Operating Officer. "We look forward to expanding on our value-based care model, while removing barriers to health, and ensuring that Louisiana's Medicaid population has access to high-quality, coordinated, whole-person care."
More than 1.5 million Louisianans receive their healthcare through the state's Medicaid managed care program, which provides access to physical health, behavioral health, pharmacy, hospital, and other services. Today, Louisiana Healthcare Connections serves more than 540,000 Medicaid enrollees and partners with 39,000 healthcare providers statewide.
"The Louisiana Department of Health has established a clear path for the health of our state, centered on a vision for health equity and a value-based healthcare system for Louisiana," said Jamie Schlottman, Plan President and CEO for Louisiana Healthcare Connections. "We look forward to the next chapter in our partnership with the state, healthcare providers, and community organizations during this pivotal moment in healthcare transformation."
With this renewed contract, Louisiana Healthcare Connections will offer several new benefits and services for its enrollees. These include community-based services for maternity and early childhood care, respite and housing assistance for members experiencing homelessness, and expanded resources to address social determinants of health. Additionally, Louisiana Healthcare Connections will expand its quality-based advanced payment models and support for healthcare providers.
The new Medicaid managed care organization contract is for a term of three years with the option for the state to extend the contract up to two additional years.
About Centene Corporation
Centene Corporation, a Fortune 25 company, is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and value creation as well as the development of its people, systems, and capabilities so that it can better serve its members, providers, local communities, and government partners.
Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, https://investors.centene.com/.
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(Envolve), as our pharmacy benefits manager (PBM) subsidiary, within the reserve estimate we have recorded and on other acceptable terms, or at all, or whether additional claims, reviews or investigations relating to our PBM business will be brought by states, the federal government or shareholder litigants, or government investigations; timing and extent of benefits from strategic value creation initiatives, including the possibility that these initiatives will not be successful, or will not be realized within the expected time periods; challenges to our contract awards; cyber-attacks or other privacy or data security incidents; the exertion of management's time and our resources, and other expenses incurred and business changes required in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for acquisitions; changes in expected closing dates, estimated purchase price and accretion for acquisitions; the risk that acquired businesses will not be integrated successfully; restrictions and limitations in connection with our indebtedness; our ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that can impact revenue and future growth; availability of debt and equity financing, on terms that are favorable to us; inflation; foreign currency fluctuations and risks and uncertainties discussed in the reports that Centene has filed with the Securities and Exchange Commission. 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