Healthcare Innovation May 2, 2024
In addition to outpatient services and supplemental benefits, Medicare Advantage members used inpatient and pharmacy services more than expected during the first quarter.
A sharp rise in Medicare Advantage members’ use of the healthcare system put a big dent in CVS Health Corp.’s first-quarter results, leading the company’s leaders to significantly lower their 2024 forecast.
CVS’ healthcare delivery portfolio, which features recent acquisitions Oak Street Health and Signify Health, was a relative bright spot in the quarter—but also couldn’t avoid the impact of higher MA utilization. The medical loss ratio in the company’s Aetna insurance division popped to 90.4 percent from 84.6 percent in early 2023 and the company’s total medical costs for the first three months of this year...
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