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.
More Articles on Managed Care Providers:
10 States With Medical Loss Ratio Requirements for Medicaid MCOs
Managed Care Companies File Protests Over Lost Ohio Medicaid Contracts
Medicaid Managed Care Enrollment Rose 8% in 2010
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
