Welcome to our dedicated page for Elevance Health news (Ticker: ELV), a resource for investors and traders seeking the latest updates and insights on Elevance Health stock.
Elevance Health, Inc. operates a health benefits and healthcare services platform built around affiliated health plans and the Carelon services business. Recurring company news covers Health Benefits results, premium yields, medical-cost trends, Medicaid, Medicare Advantage and employer group membership, and Carelon activity in pharmacy services, behavioral health, value-based care, care delivery, clinical, home health and complex care solutions.
Company updates also address small and midsize employer benefit offerings such as Balanced Funding and MEWAs, primary-care recognition and value-based provider programs, partnerships tied to family and community health, annual and quarterly financial guidance, and leadership changes across Health Benefits and Carelon.
Adam Herbst has joined Sheppard Mullin as a healthcare partner in New York, becoming the ninth healthcare partner to join in 2024. Previously serving as New York State Department of Health's Deputy Commissioner for Aging and Long Term Care, Herbst brings expertise in healthcare policy, Medicaid reform, and corporate governance. His experience includes overseeing regulation for New York's acute care, post-acute care, disability, and long-term care industries. The firm highlights its active long-term care practice, citing recent major transactions including a strategic partnership with Elevance Health and various joint ventures in the healthcare sector.
Elevance Health (NYSE: ELV) reported third quarter 2024 results with operating revenue of $44.7 billion, a $2.2 billion increase from the prior year. The company's adjusted operating gain was $2.4 billion, with diluted EPS of $4.36 and adjusted diluted EPS of $8.37. Elevance Health revised its 2024 outlook, now expecting GAAP net income per diluted share to be approximately $26.50 and adjusted net income per diluted share to be approximately $33.00.
The benefit expense ratio increased to 89.5%, up 270 basis points, primarily due to a timing mismatch between Medicaid rates and higher member acuity. The operating expense ratio improved to 11.8%, or 9.6% excluding adjustment items. The company's Health Benefits segment saw operating revenue increase to $38.3 billion, while Carelon's operating revenue grew to $13.8 billion. Elevance Health declared a fourth quarter 2024 dividend of $1.63 per share.
Elevance Health (NYSE: ELV) has announced its plans to release third quarter 2024 financial results on October 17, 2024, at 6:00 a.m. EDT. The company will host a conference call at 8:30 a.m. EDT on the same day to discuss the results and outlook. Investors can access the call using specific domestic and international numbers with an access code. A replay will be available from 11:30 a.m. EDT on October 17, 2024, until November 16, 2024. Additionally, a live webcast of the call will be accessible through the company's website under the "Investors" link, with a replay available afterwards.
Elevance Health and its Elevance Health Foundation are providing $500,000 in new grant funding to support communities affected by Hurricane Helene. This funding will help community-based organizations address critical needs such as access to food, shelter, hygiene kits, and recovery supplies.
In addition to this pledge, the Foundation has preemptively provided funding to several disaster-relief organizations:
- $1 million to the American Red Cross
- $300,000 to Team Rubicon
- $250,000 to Americares
- $100,000 to Direct Relief
Elevance Health is also matching employee donations to disaster relief efforts and making it easier for members to refill prescriptions and access healthcare services during the crisis.
Elevance Health (NYSE: ELV) has introduced the Whole Health Index (WHI), a groundbreaking tool for assessing individual and community health. Developed by Elevance Health's physicians, data scientists, and researchers, the WHI uses a 0-100 scale to evaluate health over time, considering physical, behavioral, and social factors.
The WHI incorporates over 90 data points across various health categories, including food insecurity, transportation accessibility, housing instability, preventative dental exams, immunizations, and mental health treatment. Elevance Health has begun providing access to WHI data for employer health plan members in Missouri and Virginia, with information available at the county level and always de-identified.
Elevance Health, in partnership with the Impact Fitness Foundation (IFF), has provided Irvington Preparatory Academy with its first-ever weight room and fitness space. This initiative is part of Elevance Health's commitment to improving health equity and social justice. The new facility eliminates the need for staff to drive students to public fitness centers for sports and physical education training.
The transformation included converting a storage room into a state-of-the-art training facility with new equipment for functional movement. Volunteers from Elevance Health and Indiana Fever players participated in the renovation. Following the unveiling, students and coaches attended a training clinic with IFF athletic trainers and Indiana Fever players to familiarize themselves with the new facility.
Elevance Health (NYSE: ELV) reported its Q2 2024 results, with operating revenue of $43.2 billion and adjusted operating gain of $2.8 billion. The company's diluted EPS increased by 26% to $9.85, while adjusted diluted EPS rose 12% to $10.12. Elevance Health declared a Q3 2024 dividend of $1.63 per share.
The benefit expense ratio improved to 86.3%, while the operating expense ratio increased to 11.7%. The company maintains its full-year outlook, expecting GAAP net income per diluted share to be at least $34.05 and adjusted diluted net income per share to be at least $37.20 in 2024.
Elevance Health's Health Benefits segment saw a 2% decrease in operating revenue, while Carelon segment's operating revenue increased by 10% compared to the prior year quarter.
Elevance Health has released its annual Impact Report, showcasing its transformation from a traditional health insurance company to a comprehensive healthcare services provider. Key achievements include receiving the Health Equity Accreditation Plus from the National Committee for Quality Assurance, supporting Medicaid eligibility renewals, and expanding Carelon. The company was recognized among America’s top 50 most community-minded companies and featured in JUST Capital’s JUST 100. The report emphasizes Elevance Health’s efforts to cater to the unique needs of each health plan member, assess and address health drivers, form community partnerships, and utilize data-driven insights to enhance and personalize healthcare services.
Elevance Health (NYSE: ELV) will announce its second quarter 2024 financial results on July 17, 2024, at 6:00 a.m. EDT. A conference call to discuss these results and the company's outlook will follow at 8:30 a.m. EDT. The domestic access number for the call is 888-947-9963 with the access code 3972058, and for international participants, the number is 312-470-0178 with the same access code. A replay of the call will be available domestically at 800-391-9851 and internationally at 203-369-3268 from 11:30 a.m. EDT on July 17 until August 17, 2024. Additionally, the call will be accessible via a live webcast on the Elevance Health website under the 'Investors' section.
Elevance Health (NYSE: ELV) will present at Goldman Sachs 45th Annual Global Healthcare Conference in Miami Beach, Florida on June 12 at 1:20 p.m. EDT. Senior management will deliver the presentation, which will be webcast live on the company's investor relations website. A replay of the presentation will be available for 90 days following the event. Interested individuals are advised to visit the website early to download any necessary software. This presentation will reflect Elevance Health's recent SEC filings, including their Annual Report on Form 10-K for the year ending December 31, 2023.