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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.
Centene Foundation announces a $3 million, three-year partnership with the National Association of Community Health Centers (NACHC) to strengthen Community Health Centers (CHCs) nationwide. The initiative focuses on two main areas: enhancing value-based care adoption and improving maternal-child health outcomes.
The partnership includes a national value-based care strategy starting with an annual survey to assess CHCs' participation in value-based payment models, followed by a tailored learning curriculum through NACHC's Elevate platform. Additionally, it will launch a Maternal Health Innovation Exchange, implementing an 18-month quality improvement program in up to 20 health centers.
NACHC represents nearly 1,500 CHCs operating across 16,000 clinics, serving 32.5 million people nationwide, including one in five Medicaid beneficiaries. The centers provide comprehensive primary care services to historically underserved populations.
Centene (NYSE: CNC) has announced plans to host an investor day event on Thursday, December 12, 2024, beginning at 8:30 a.m. Eastern Time. The healthcare enterprise will make the event accessible through a live webcast on their website's Investors section. Interested parties can access the event directly through a provided webcast link, and a replay will be available for on-demand viewing for 12 months following the event.
Meridian Health Plan of Illinois, a Centene company (NYSE:CNC), has partnered with Liberty Bank and Trust to launch a small business loan program in Illinois. The initiative features a $500,000 grant from Meridian that will support $2.5 million in lending power, offering loans ranging from $10,000 to $50,000 to small businesses, particularly diverse and minority-owned enterprises. The Liberty's Lighting Loan Program provides fast application processing within 48 hours and includes supplemental educational programming. The program, which began accepting applications in October, aims to enhance business capabilities and improve operations across Illinois communities.
Sunshine Health, Florida's largest managed care organization and a Centene company (NYSE: CNC), announced the appointment of Charlene Zein as Plan President and CEO, effective Nov. 3, 2024.
Zein brings nearly two decades of healthcare industry experience, having held various leadership roles at Sunshine Health since joining in 2019. Most recently, she served as Chief Product President, overseeing Medicaid, Marketplace, and Medicare products. Zein played a key role in driving growth in the Marketplace product and was instrumental in Florida's successful Medicaid contract reprocurement.
Centene CEO of Markets and Medicaid, Nathan Landsbaum, expressed confidence in Zein's leadership to further expand Sunshine Health's impact and growth. Zein stated her commitment to ensuring high-quality healthcare access for Floridians and collaborating with government, provider, and community partners.
Sunshine Health provides health coverage to over 2.5 million Floridians through its Medicaid, Marketplace, and Medicare products.
Centene (NYSE: CNC) announced that its subsidiary, Buckeye Health Plan, has been selected by the Ohio Department of Medicaid to continue providing Medicare and Medicaid services through a Fully Integrated Dual Eligible Special Needs Plan (FIDE SNP). The program will transition to Next Generation MyCare plans in January 2026, covering 29 counties initially with planned statewide expansion by 2027. Buckeye, one of four selected health plans, currently serves over 9,000 members across 12 counties. The new contract focuses on addressing healthcare barriers and social drivers of health. Additionally, Centene's Meridian Health Plan was selected for a similar program in Michigan.
AcariaHealth, a Centene specialty pharmacy, received multiple recognitions at the 2024 National Association of Specialty Pharmacy (NASP) Annual Meeting. Notable achievements include John Nguyen winning the NASP Specialty Pharmacist of the Year Award, while the company and two other team members were named finalists in their respective categories. The company also presented research findings on patient adherence through two poster abstracts focusing on improving therapy persistence and enhancing medication adherence in oncology. AcariaHealth's leadership team was featured in the NASP 2024 Spotlight Series podcast, discussing industry insights and patient care initiatives.
Ambetter of Illinois, a Centene product managed by Meridian Health Plan, has expanded its provider network by adding Advocate Health Care. This expansion gives Ambetter members immediate access to Advocate's 11 hospitals, 300 sites of care, 6,500 physicians, and 11,000 nurses in the Chicagoland area. Members can access various specialties including cancer care, heart & vascular care, orthopedics, and women's health. The network expansion is effective immediately for current members and those enrolling during the Open Enrollment period from November 1, 2024, through January 15, 2025.
Centene (NYSE: CNC) has been named to the 2024 Fortune 100 Best Large Workplaces for Women™ list, ranking 66th among large companies. This marks their second consecutive year on the list, recognizing their commitment to employee well-being, fair compensation, and growth opportunities for women.
Women comprise over 75% of Centene's workforce and hold a majority of people manager positions. The company's employee inclusion group, I.N.S.P.I.R.E, supports women through development sessions, mentoring, and community engagement. In 2024, I.N.S.P.I.R.E expanded to include dedicated parent groups supporting various life stages and family circumstances.
Health Net, a Medi-Cal managed care health plan and Centene (NYSE: CNC) subsidiary, has awarded $2 million in grants to 47 independent physician practices across California. The grants support the Department of Healthcare Services' Equity and Practice Transformation (EPT) Directed Payment Program. Recipient physicians report using the funds for various improvements including upgrading medical equipment, implementing electronic health records, hiring additional staff, and enhancing healthcare infrastructure. The initiative aims to improve healthcare access, reduce disparities, and enhance patient care quality across California communities.
Superior HealthPlan, a Centene (NYSE: CNC) managed care organization, has awarded $26,000 in grants to 13 Texas nonprofits and providers through its quarterly community grant program. The grants support various initiatives including food security, healthcare access, and education in low-income communities. Eight community organizations and four healthcare providers received funding for projects ranging from food pantries to medical equipment. Since 2020, Superior has distributed over $620,000 to more than 200 partners. The program will transition to an annual format in 2025, offering $10,000 grants with applications due March 31, 2025.
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