Centene Corp Del Stock Price, News & Analysis

On February 10, 2023, Peach State Health Plan and the Centene Charitable Foundation announced a $1 million donation to the Georgia Primary Care Association aimed at enhancing school-based health centers (SBHC) in Georgia. This funding will help address critical healthcare needs for underserved families, focusing on prevention and early detection of health issues. Additionally, Georgia Governor Brian Kemp previously allocated $125 million for SBHC infrastructure. Currently, only 114 of nearly 2,200 public schools in Georgia have health centers on campus.

On February 8, 2023, Superior HealthPlan announced a partnership with eFamilyCare to support family caregivers of high-risk, chronically ill adults and children in Texas. Utilizing the eFamilyCare telehealth platform, caregivers will receive expert coaching and access to necessary resources. A pilot program initiated in 2022 yielded positive results, with 100% of participants reporting responsive care advisors and 91% expressing high satisfaction. The program will expand in 2023 to benefit Medicaid members enrolled in CHIP and STAR programs. This initiative aims to reduce hospital readmission rates by providing essential support to caregivers.

Centene Corporation (NYSE: CNC) reported a 2022 full year diluted EPS of $2.07 and adjusted diluted EPS of $5.78, reflecting a 12% growth. Total revenues rose 15% to $144.5 billion. The health benefits ratio stood at 87.7%. Centene executed $3.0 billion in share repurchases and completed five divestitures, including Magellan Rx and HealthSmart. For 2023, Centene increased its premium and service revenues guidance by $2.0 billion. The company also noted leadership changes and received recognition for gender equality and diversity.

Superior HealthPlan, a Texas-based managed care company and subsidiary of Centene Corporation (CNC), has been recognized as a Best Place for Working Parents for the third consecutive year. This accolade highlights Superior's commitment to workplace flexibility and family-friendly policies. Key benefits include up to 14 weeks of paid parental leave, expanded remote work options for over 90% of staff, and an adoption reimbursement program. Mark Sanders, President and CEO, emphasized the importance of a supportive work environment since the pandemic. Superior has previously earned the Family-Friendly Workplace designation, underscoring its commitment to employee engagement.

Health Net, a leading partner in Medi-Cal, announced the launch of its Review to Renew campaign to assist Medi-Cal members in California as annual redetermination resumes on April 1, 2023. This campaign aims to educate approximately 13 million Medi-Cal beneficiaries about the importance of updating their eligibility information to maintain coverage. During the public health emergency, the federal government waived eligibility checks, causing many to retain coverage without verification. The initiative will utilize various communication methods, including mailers, digital ads, and community events.

In 2022, Superior HealthPlan, a subsidiary of Centene Corporation (NYSE:CNC), engaged in extensive community support across Texas, addressing healthcare challenges like COVID-19 and mental health issues. The organization's Community Investment Report highlights partnerships with over 425 organizations and participation in more than 1,100 events. Superior allocated a total of $8.8 million for various initiatives, including the New Uvalde Community Center project worth $7.9 million. Their efforts also included funding hygiene closets, sensory-friendly events, and supporting United Way chapters, reinforcing their commitment to improving community health and well-being.

Health Net Federal Services (HNFS), a subsidiary of Centene Corporation (NYSE:CNC), announced the arrival of three Military Transition Interns starting in January 2023. This initiative, in partnership with the Department of Defense SkillBridge Program and Hiring our Heroes, allows active-duty service members to gain industry experience during their transition to civilian life. The interns include Air Force Colonel Pedro Burton-Taylor, Army Major Sara Skiles, and Senior Master Sergeant Roxanne Cristobal. HNFS has been servicing nearly 2.9 million beneficiaries in the TRICARE West Region, contributing to military healthcare advancements.

Centene Corporation (NYSE: CNC) has successfully completed the divestiture of Magellan Specialty Health to Evolent Health, receiving approximately $660 million at closing. The proceeds include $400 million in cash and the rest in Evolent stock, with potential additional payments of up to $150 million in 2024 based on performance metrics. This transaction marks a key milestone in Centene's portfolio review and value creation strategy. The partnership with Evolent is expected to enhance access to integrated specialty solutions for members and providers.