Healthcare DIVE October 17, 2024
Executives said the increased costs pressuring its Medicaid business would improve after states updated payment rates to better match member acuity.
Dive Brief:
- Elevance Health lowered its profit guidance for 2024 on Thursday as the insurer manages “unprecedented challenges” in its Medicaid business.
- The company expects net income per diluted share to be approximately $26.50, down from at least $34.05 it projected last quarter.
- But CEO Gail Boudreaux said the increased costs pressuring its Medicaid segment would alleviate as states updated their payment rates to better match member acuity. “We remain confident in the long-term earnings potential of our diverse businesses as we navigate a dynamic operating environment and unprecedented challenges in the Medicaid business,” she said in...
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