Centene beats investor expectations despite Medicaid headwinds

Healthcare DIVE October 26, 2024
Emily Olsen

Like other payers, Centene flagged a mismatch between patient acuity and payment rates in Medicaid. But the insurer said a diversified portfolio helped it navigate challenges in the third quarter.

Dive Brief:

• Centene beat investor expectations on earnings and revenue in the third quarter despite Medicaid headwinds that are challenging other payers.
• The insurer reported profit of $713 million on a topline of $42 billion compared with $469 million on revenue of $38 billion during the same period last year.
• Centene, the nation’s largest Medicaid insurer, continues to manage increased medical needs among its beneficiaries in the safety-net program, but executives on an earnings call said the company is making progress working with states to boost payment rates.

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