Centene Unit Wins Medicaid Contract to Offer Better Care
Centene Corporation CNC recently announced that its New Hampshire subsidiary, NH Healthy Families, has been selected by the New Hampshire Department of Health & Human Services (“DHHS”) to continue offering quality, coordinated healthcare to statewide enrollees under the New Hampshire Medicaid Care Management (MCM) program. The New Hampshire Governor and Executive Council approved a new five-year contract, which is expected to start in late 2019.
The program is a capitated, risk-based plan that caters to a wide variety of accessible medial care services to around 180,000 members consisting of expecting women, children, parents and caretakers, non-elderly, non-disabled adults under 65 as well as aging, blind and disabled people, et al.
Moreover, NH Healthy Families complements Medicaid services by providing value-added benefits to improve member-centered healthcare outcomes and above all, the patients’ quality of life.
Since 2013, this arm of Centene has been delivering healthcare services and programs in New Hampshire. The members would gain traction from this partnership as they will be able to access better medical care.
NH Healthy Families has collaborated with several local providers, public policy makers, social service agencies, public policy makers plus community and civic groups to help members achieve their health goals and public health initiatives.
The company has won several other contracts over the past many years, leading to membership growth. Last June, the company’s Kansas subsidiary, Sunflower Health Plan, was selected by the Kansas Department of Health and Environment to offer KanCare beneficiaries across the state with managed care services.
The company also boosted its membership base via inorganic growth strategies. In 2018, it also purchased Community Medical Holdings, MHM Services and Fidelis Care. Further, it made an initial investment in pharmacy benefit manager, RxAdvance. Last July, the company entered into a joint venture with Ascension to establish a Medicare Advantage plan, which will be operational in the multiple geographic markets beginning 2020. These acquisitions and partnerships should bolster the company’s operations and aid long-term growth.
The company recently announced that it will acquire WellCare Health Plans, Inc. WCG for a total value of $17.3 billion per the terms of a definitive merger deal. This transaction, approved by the boards of both companies, will form a premier healthcare enterprise with its primary focus on government-sponsored healthcare programs.
Shares of this Zacks Rank #2 (Buy) company have dipped 0.1% in a year’s time against its ’s growth of 13.8%.
Other Stocks to Consider
Investors interested in the medical sector can also take a look at some other top-ranked stocks like Anthem Inc ANTM and Molina Healthcare, Inc MOH. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Anthem and subsidiaries operate as a health benefits company in the United States. In the last four quarters, the company came up with average positive surprise of 7.1%. It flaunts a Zacks Rank #1.
Molina offers Medicaid-related solutions to meet the health care needs of low-income families and individuals. It carries a Zacks Rank of 2. In the trailing four quarters, the company delivered average beat of 109.41%.
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