Becker's Healthcare October 17, 2024
Elevance Health executives say financial challenges in its Medicaid business will be temporary.
The company reported its third quarter earnings Oct. 17. The company cut its earnings outlook for 2024 from $37.20 in net income per diluted share to $33, primarily due to slimmer Medicaid margins.
On a call with investors, Elevance Health CEO Gail Boudreaux said the company expects a “timing disconnect” between acuity in the company’s Medicaid population and state payment rates.
Here are seven things to know:
- Elevance Health’s Medicaid membership has declined by 20% since the third quarter of 2023. According to KFF, Medicaid membership has declined by 15% nationwide since 2023, when states began disenrolling Medicaid beneficiaries for the first...
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