Flu-related costs caused WellCare to have an extra $15 million charge in the fourth quarter, which ended Dec. 31, 2014, according to the report.
WellCare posted earnings of $7.7 million for the fourth quarter, a significant decrease from the $42.9 million the company posted for the same period of the prior year.
WellCare CEO Kenneth Burdwick said, “While we are disappointed with our fourth-quarter earnings due to the effect of the early and more severe flu season on our Medicaid business, we are focused on enhancing our core capabilities,” according to the report.
More articles on healthcare finance:
Molina Healthcare’s profit spikes to $62.2M
This not-so-subtle provision of Obama’s budget isn’t sitting well with hospitals
7 recent hospital rating and outlook changes, affirmations
