Becker's Healthcare July 17, 2024
Medical costs are on the rise in Elevance Health’s Medicaid business, executives said.
On the company’s second-quarter earnings call on July 17, CFO Mark Kaye said the company is seeing signs of increased utilization in outpatient, home health, radiology and other areas.
Medicaid redeterminations have left Elevance with a higher-acuity Medicaid membership. In 2023, states began the process of disenrolling Medicaid enrollees for the first time since 2020. States were prohibited from disenrolling any Medicaid beneficiaries, regardless of their eligibility, during the COVID-19 public health emergency.
As of July 12, more than 24 million people have been disenrolled through the redetermination process, according to KFF. Those who remain enrolled tend to have more health needs, driving up...
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