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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.
U.S. Medical Management (USMM) achieved significant results in the 2020 Medicare Shared Savings Program (MSSP), saving the Centers for Medicare & Medicaid Services (CMS) $26.5 million and attaining a 97.5% overall quality score. In total, MSSP ACOs saved Medicare $4.1 billion in 2020, with 345 out of 513 organizations generating savings. USMM, dedicated to home-based care, served 17,174 patients and emphasized its commitment to improving patient outcomes, even amid the challenges posed by the COVID-19 pandemic.
Centene Corporation (NYSE: CNC) has partnered with AT&T, Connected Nation, Dell Technologies, and Intel to tackle the Digital Divide impacting foster youth. The initiative involves donating over 1,000 laptops and 2,200 hotspots to foster care agencies in Florida and Missouri. The K-12 Digital Divide Program aims to provide essential technology for schoolwork, telehealth, and daily activities, especially crucial during the COVID-19 pandemic. By equipping foster youth with these resources, Centene addresses educational disparities and promotes overall health and wellness.
Centene Corporation (NYSE: CNC) is set to announce its Q3 2021 financial results on October 26, 2021, at 6 a.m. ET, followed by a conference call at 8:30 a.m. ET. The call will be led by CEO Michael F. Neidorff and CFO Drew Asher. Investors can join by phone or via a live audio webcast on Centene's website, with a replay available for 12 months post-call. Centene, a leading healthcare enterprise, focuses on providing integrated services to under-insured individuals and contracts with various healthcare organizations to offer specialized services.
California Health and Wellness is responding to the declared state of emergency in Lake County, California, by offering immediate support to members affected by the fires. The company ensures access to essential medications through emergency supply provisions at local pharmacies. Additionally, mental health support is available via MHN, which operates a 24/7 hotline for members coping with trauma. Healthcare providers can also access support for emergency prescriptions and treatment approvals. This initiative underscores their commitment to serving low-income and vulnerable communities across California.
Centene announced key leadership changes on Sept. 7, 2021, appointing Sarah London as Vice Chairman of the Board and maintaining her role in Health Care Enterprises and Advanced Technology. She will now oversee Technology, Corporate Strategy, and Compliance. Brent Layton, previously President of U.S. Health Plans, becomes President and COO, enhancing his responsibilities for operational growth and strategy. These appointments align with Centene's goals for accelerated growth and improved operational expertise, highlighting a commitment to accessible healthcare.
Centene Corporation (NYSE: CNC) will participate in the Morgan Stanley 19th Annual Healthcare Conference on September 13, 2021, at 9:30 a.m. EDT. The presentation will be held virtually, and a live audio webcast can be accessed here. A replay will be available on Centene's website under the Investors section. As a Fortune 25 company, Centene is dedicated to providing integrated healthcare services to under-insured individuals, including Medicaid and Medicare members nationwide.
Health Net has been recognized by Newsweek as one of America’s Best Customer Service providers in health insurance for 2022. This accolade reflects the company’s commitment to quality member experience and service excellence, validated by an extensive survey of over 25,000 U.S. consumers. The ranking evaluates brands based on customer feedback in categories like communication quality, professional competence, and service accessibility. Health Net also previously topped Forrester's Customer Experience Index for health insurers, underscoring its strong performance in customer satisfaction.
California Health and Wellness has initiated special support for members in Alpine, Amador, and Placer Counties following Gov. Gavin Newsom's state of emergency due to wildfires. They are ensuring members can access essential prescription medications and provide coping support through the MHN hotline, available 24/7. Members can obtain emergency prescriptions and utilize telehealth services via the Babylon app. Healthcare providers will receive guidance on emergency prescription refills and out-of-network treatment approvals. The company, a subsidiary of Centene Corporation (CNC), focuses on delivering health coverage in rural areas.
Health Net's Medi-Cal President, Martha Santana-Chin, has been named 'Insurance Executive of the Year' by the Los Angeles Business Journal for her leadership during the pandemic. Under her oversight, Health Net implemented telemedicine for 2 million members within seven weeks of lockdown, awarded $13.4 million in grants to expand telemedicine, and initiated a Mobile RV Vaccination Initiative, administering over 9,000 vaccines. The company emphasizes health equity and has been a primary Medi-Cal partner for over 40 years, serving approximately 3 million members.
Centene Corporation's subsidiary, SilverSummit Healthplan, has secured a contract from the Nevada Department of Health to continue providing managed care services for the Medicaid program in Clark and Washoe Counties. This contract, pending regulatory approval, will take effect on January 1, 2022, and aims to enhance care management and member engagement for over 760,000 beneficiaries. The company emphasizes its commitment to quality healthcare and partnership with local providers.
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