Becker's Healthcare October 19, 2023
Elevance Health is expecting to lose around $500 million in revenue in 2025 as a result of declining Medicare Advantage star ratings, CEO Gail Boudreaux said.
The percentage of Elevance Health members enrolled in contracts rated at four stars or higher will decline from 64% in 2023 to 34% in 2024, according to documents the company filed with the Securities and Exchange Commission Oct. 13.
In the filing, the company said it was “disappointed” in aspects of the rating, especially declines in members’ reported satisfaction with access to appointments and care.
On an Oct. 18 earnings call, Ms. Boudreaux said the company is investing in its customer service and network access to improve its ratings for 2025....
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