Behavioral Health Business April 18, 2024
Morgan Gonzales

Elevance Health Inc. (NYSE: ELV) is placing a “large focus” on its behavioral health business, inking two massive state contracts worth up to $740 million in Q1 of 2024.

Carelon, Elevance’s health care services arm, is off to a “strong start” this year, buoyed by major behavioral health contracts with the states of Maryland and California, according to its Q1 2024 earnings call.

“Momentum with external clients is building and underscores the value Carelon services is creating for health plan customers to better consumer experiences and improve affordability,” Gail Boudreaux, president and CEO of Elevance, said on the call.

Carelon raked in $12.1 billion in operating revenue in Q1 of 2024, an increase of about $600 million compared to the...

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Topics: Govt Agencies, Insurance, Mental Health, Payer, Provider, States
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