Total revenue spiked 40.8 percent, from $1.22 billion to $1.71 billion. Centene’s revenue shot up mostly due to the large increase in membership — currently, there are 2.15 million Centene enrollees, which is a jump of 38 percent from the first quarter of last year. More than 1.63 million of those members are enrolled in Medicaid.
However, Centene took a hit earlier this month when Ohio announced it would not renew its Medicaid managed care contract. In the three months ended March 31, 2012, Centene had 161,000 enrollees in Ohio, which is roughly 7.5 percent of its business.
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