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Centene Corporation - $CNC STOCK NEWS

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.

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The Pro Football Hall of Fame, in partnership with Coordinated Care and the Seattle Seahawks, hosted the 'Strong Youth Strong Communities' (SYSC) summit at Lumen Field on June 7, 2024. Attended by 400 youths from the Seattle area, the event focused on mental wellbeing and resilience, addressing challenges such as crime, drug exposure, and social isolation. Hall of Famers Darrell Green, Aeneas Williams, and Walter Jones led the summit, sharing personal stories and success strategies. Coordinated Care, a Centene (NYSE: CNC) company, highlighted their commitment to improving youth mental health. Coordinated Care serves over 300,000 Medicaid members in Washington, with a focus on children and youth. Local partners also supported the event, emphasizing the importance of mental health resources for students.

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On May 29, 2024, WellCare of North Carolina and the Centene Foundation announced a $1.95 million investment in The Umbrella Center in Charlotte, North Carolina. The investment, spanning three years, will support the development of a comprehensive family justice center that offers services to victims of domestic violence, sexual assault, elder abuse, human trafficking, and child abuse. The center is set to open in the summer of 2026 at 4822 Albemarle Road. The collaboration involves Mecklenburg County, the City of Charlotte, Pat's Place Child Advocacy Center, and Safe Alliance. The project aims to provide holistic support, including legal, healthcare, and law enforcement services. Domestic violence costs Charlotte-Mecklenburg about $50 million annually, with mental health expenses reaching $6.7 million, underscoring the project's importance.

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Collaborative Health Systems (CHS), a provider management organization under Centene (NYSE: CNC), announced its expansion into Virginia. This move allows Virginia providers to join Chesapeake Independent Physician Association (CIPA) and participate in value-based care programs. Established in Maryland since 2018, CIPA includes over 150 provider groups and operates Medicare Shared Savings Programs, Medicare Advantage plans, and commercial health plan programs. Participating in CIPA offers benefits like improved Medicare Fee-For-Service rates, financial incentives, and enhanced care coordination tools.

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Wellcare, a part of Centene (NYSE: CNC), has partnered with The American Legion to launch the 'Be the One' initiative, aimed at preventing veteran suicides. This program seeks to raise awareness about mental health resources and reduce the stigma surrounding seeking help. Notably, U.S. veterans are 1.5 times more likely to die by suicide, with 17.5 veterans dying each day on average. The initiative includes educational materials, a mobile app, and public service announcements. Both organizations emphasize the importance of community support for veterans struggling with mental health issues.

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AcariaHealth, a specialty pharmacy under Centene (NYSE: CNC), announced the relocation of its St. Louis-area pharmacy to a new facility in Chesterfield, Missouri. The nearly 40,000 square foot space, home to Foundation Care, aims to enhance care for patients with rare and chronic conditions.

The new facility supports commercial dispensing and wholesale distribution nationwide. President Jessica Ciccolella-Kahl highlighted the investment in patient care and the improved work environment for staff. The move emphasizes AcariaHealth's commitment to patient outcomes and community engagement, providing room for future growth.

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Centene (NYSE: CNC) announced its participation in the Bernstein 40th Annual Strategic Decisions Conference 2024.

The company will present on May 31st at 8:00 a.m. EDT. A live audio webcast of the presentation will be available online, with a replay accessible afterward via Centene's website under the Investors section.

As a leading healthcare enterprise, Centene focuses on enhancing health outcomes for individuals.

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The Centene Foundation and McCormack Baron Salazar (MBS) have announced a multiyear partnership to construct affordable housing in eight states.

The Foundation will provide below market-rate loans to MBS, enabling approximately $900 million in construction-related activity. This partnership aims to create thousands of affordable housing units in distressed communities.

Affordable housing is recognized as a key driver of health equity. This initiative will focus on Medicaid-eligible populations, helping to improve health outcomes by integrating health-related services within the housing developments.

MBS estimates that each dollar from the Foundation will enable it to secure $30 or more in permanent financing from various sources. This innovative approach is expected to stabilize households, improve public health, and save public healthcare costs.

The partnership reflects Centene’s and MBS’s longstanding commitment to community health and revitalization.

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Cityblock and Sunshine Health have announced a partnership to deliver comprehensive care to Medicaid members in 11 Central Florida counties starting May 1, 2024. The partnership aims to provide 24/7 access to care via virtual, at-home, or clinic visits, offering primary care and care coordination services to high-need Medicaid members. This initiative is intended to enhance overall health outcomes and minimize unnecessary emergency visits and inpatient admissions. Cityblock's CEO, Dr. Toyin Ajayi, expressed excitement over expanding operations with Sunshine Health, a subsidiary of Centene (NYSE: CNC). Sunshine Health's CEO, Nathan Landsbaum, emphasized the focus on whole-person health and quality care for Floridians.

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Centene (NYSE: CNC) has been named one of the Top 50 Companies for Diversity by Fair360 for the fourth consecutive year. This year, Centene ranked No. 26, an improvement from No. 37 last year. The company also secured top spots in three specialty categories: No. 7 for Talent Acquisition for Women of Color, No. 9 for Executive Women, and No. 18 for People with Disabilities. This recognition reflects Centene's ongoing commitment to diversity, equity, and inclusion (DEI), reinforced by their recent Sustainability & DEI Report. Additionally, Centene received accolades from Forbes, Newsweek, and Bloomberg for their efforts in diversity and gender equality.

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Oklahoma Complete Health, part of Centene (NYSE: CNC), urges SoonerSelect members to complete the My Health Screening form to maximize their healthcare benefits. Since launching on April 1, 2024, the organization has reached out to all new members to ensure access to quality healthcare services. The screening form helps members work with care managers to identify necessary services and connect to community resources. As of now, Oklahoma Complete Health has provided over 4,200 rides through their transportation benefit. Members also receive $10 in My Health Pays rewards for completing the form.

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FAQ

What services does Centene Corporation provide?

Centene offers a wide range of services including Medicaid, Medicare, specialty services like behavioral health management, dental benefits management, and telehealth services.

Who are Centene Corporation’s primary service recipients?

Centene primarily serves under-insured and uninsured individuals. This includes members enrolled in Medicaid, Medicare Advantage, and individual exchanges.

What recent financial achievements has Centene Corporation reported?

For the first quarter of 2024, Centene reported robust financial performance, with medical claims liabilities totaling $18.1 billion and a strategic growth plan aimed at expanding access to affordable, high-quality healthcare.

How is Centene addressing social issues such as homelessness?

Centene, through its subsidiary Health Net, donated $1.3 million to the We Are LA program to prevent evictions and combat homelessness, helping over 32,000 individuals and families maintain stable housing.

What partnerships has Centene recently formed to improve healthcare accessibility?

Centene partnered with Hazel Health to provide virtual healthcare access to students in Uvalde, Texas, and launched the MHS Serves initiative in Indiana to address health disparities.

How does Centene Corporation support state-sponsored healthcare programs?

Centene supports various state-sponsored healthcare programs, including Medicaid, CHIP, ABD, foster care, and LTC, ensuring comprehensive coverage for under-insured and uninsured populations.

What is the significance of Centene’s MHS Serves program?

The MHS Serves program is a $12 million initiative focused on health equity, aiming to reduce health disparities by supporting community-based programs and resources across Indiana.

How many medical members does Centene serve?

As of June 2023, Centene served approximately 24 million medical members, with a majority being part of Medicaid, individual exchanges, and Medicare Advantage plans.

What are some of the specialty services provided by Centene?

Centene provides specialty services such as behavioral health management, care management software, correctional healthcare services, dental benefits management, in-home health services, and telehealth services.

How does Centene ensure a local approach in its services?

Centene operates local health plans and teams to provide fully integrated, high-quality, and cost-effective services tailored to the specific needs of various communities.

Centene Corporation

NYSE:CNC

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