Becker's Healthcare September 4, 2024
GLP-1 medication costs are one factor contributing to tighter margins in the Medicaid space, Centene executives said.
At an investor presentation on Sept. 4, CFO Drew Asher said Medicaid redeterminations are continuing to put pressure on the company’s Medicaid business. The company lowered its Medicaid membership expectation for the year from 13.6 million to 13 million.
The lower membership guidance led to the largest one-day drop in Centene’s share price in a year, according to Bloomberg.
The pressure is largely driven by redeterminations, Mr. Asher said, but individual changes by states also play a role.
“Either there’s a new program, or the state has done something wonky with the pharmacy benefits — whether they’ve carved out...
Today's Sponsors
Today's Sponsor