Centene Corporation reports news on its government-sponsored managed care business, including Medicaid, Medicare, individual exchange coverage and Medicare Part D plans. Company updates commonly cover quarterly results, EPS guidance, membership by line of business and health-plan subsidiary activity across state markets.
Centene news also includes initiatives from the Centene Foundation and operating companies such as Health Net, Superior HealthPlan, Home State Health, Sunshine Health, Buckeye Health Plan, Carolina Complete Health and WellCare of Kentucky. Recurring themes include affordable housing, medically tailored meals, provider accessibility, workforce development, community health, social services and programs that address drivers of health for managed care members.
Centene Corporation (NYSE: CNC) has appointed Brent Layton as Executive Vice President, Markets, Products, International, and Chief Business Development Officer, effective January 1, 2021. Layton, a 20-year veteran at Centene, aims to enhance strategic alignment across key markets and products. He will succeed Kenneth Burdick, who will retire on January 23, 2021 but will continue as a consultant through the year. This leadership change is expected to strengthen the company's growth trajectory and service delivery.
Centene Corporation (NYSE: CNC) announced a hybrid format for its upcoming 2021 Financial Guidance and Investor Meeting on December 18, 2020, due to rising COVID-19 cases in Missouri. The meeting will include pre-recorded management presentations and live Q&A sessions, prioritizing health and safety while ensuring transparent communication with investors. Centene, a leading healthcare enterprise, serves nearly 1 in 15 individuals in the U.S. through various government-sponsored programs and healthcare services. Additional meeting details will be available on the company's investor relations website.
Health Net has achieved impressive ratings for its Medicare Advantage plans in California, receiving a 4-out-of-5 Star rating from the Centers for Medicare & Medicaid Services (CMS) for 2021. This marks the third consecutive year Health Net has secured a rating of 4 Stars or higher, highlighting its commitment to delivering quality healthcare. With its extensive network of providers, Health Net serves over 3 million members across California and continues to enhance its service offerings in multiple counties. The Medicare Annual Enrollment Period is ongoing until Dec. 7, 2020.
Centene Corporation (NYSE: CNC) announced a virtual 2021 Financial Guidance and Investor Meeting scheduled for December 18, 2020. Led by Michael F. Neidorff, the meeting will be streamed live on the company's website. Participants can look forward to detailed insights on financial strategies and growth outlook. Centene is a leading healthcare enterprise that serves nearly 1 in 15 individuals in the U.S., offering integrated services for Medicaid, Medicare, and more. The investor relations website will provide additional information for investors.
Centene Corporation (NYSE: CNC) shows its commitment to rural healthcare on National Rural Health Day by partnering with the National Organization of State Offices of Rural Health. This initiative aims to address healthcare challenges faced in rural areas, where residents experience higher mortality rates and more preventable admissions. Centene is enhancing access through telehealth solutions, including providing smartphones to providers and facilitating broadband services. The company emphasizes its dedication to ensuring quality healthcare access for vulnerable populations, particularly during the COVID-19 pandemic.
Ambetter, a health insurance offering from Centene Corporation, promotes its My Health Pays® rewards program, helping members earn up to $500 in rewards for healthy behaviors. The program encourages activities such as wellness visits and health surveys, contributing to millions of dollars in rewards distributed. Additionally, Ambetter partners with Abenity to offer members discounts on health-related expenses. The open enrollment for the Health Insurance Marketplace ends on Dec. 15, 2020. For further details, visit Ambetter's website.
Ambetter is enhancing the enrollment process for health coverage through technology. With an online enrollment platform and the AI-powered Amber assistant, consumers can easily navigate their health plan options during open enrollment. Key features include mobile access, eligibility checks for financial subsidies, and a personalized virtual assistant to answer questions. The Ambetter Guide further assists members in finding suitable healthcare providers. The open enrollment period lasts until Dec. 15, 2020.
Centene Corporation (NYSE: CNC) has signed a definitive agreement to acquire Apixio Inc., a healthcare analytics company specializing in AI technology solutions. This transaction, subject to regulatory approval, is expected to conclude by the end of 2020. Apixio's technology analyzes unstructured patient data to enhance healthcare administration, aligning with Centene's goal to modernize healthcare services. The acquisition aims to create synergies with Centene's existing data analytics products, supporting value-based healthcare delivery.
Centene Corporation (NYSE: CNC) will attend two virtual conferences this November. The first is the Credit Suisse 29th Annual Healthcare Conference on November 10 at 8:45 a.m. EST, with a live audio webcast available here.
The second conference is the Bernstein Operational Decisions Conference on November 16 at 8:00 a.m. EST, with details accessible here. Webcast replays will be available on Centene's website.
Centene Corporation (NYSE: CNC) released its Q3 2020 financial results, reporting total revenues of $29.1 billion, a 53% increase from the previous year. Diluted EPS stood at $0.97, adjusted EPS at $1.26, boosted by a $398 million ACA risk corridor settlement. Managed care membership rose 65% YoY to 25.2 million. Operating cash flow was $(952) million, primarily due to health insurer fees. The company also issued $2.2 billion in senior notes to refinance existing debt and anticipates continued growth in various markets, with an adjusted EPS guidance of $4.90 to $5.06 for 2020.