Centene has landed quite a few new contracts to administer Medicaid rewards in California, boosting the health and fitness insurer’s economical outlook following the new reduction of some other govt business enterprise.
With the Tuesday announcement that the California Division of Well being Treatment Companies has selected Centene subsidiary Wellbeing Web of California for “direct contracts in Los Angeles and Sacramento counties,” Centene has raised its projected 2024 altered earnings for every share “floor to $7.15 from $7.00.” The state’s selection will increase the “number of direct county contracts by DHCS to 10” in California.
“We are delighted that DHCS selected us to continue on serving Medi-Cal members in 10 counties throughout the state, which includes as key provider in Los Angeles County,” Cemtene main government Sarah London mentioned. “We consider their decision is in the finest interest of hundreds of thousands of associates, and we glimpse ahead to doing work with DHCS to tackle wellbeing disparities and enhance how healthcare is delivered to Medi-Cal customers throughout the state.”
Medicaid contracts are substantial for Centene, which is a single of the nation’s greatest directors of overall health gains for bad People. Authorities-backed health and fitness insurance policy stays Centene’s sweet place and the California news is welcome soon after Centene reportedly missing out a important western location Tricare agreement from the U.S. Defense Section.
The new California contracts will start January 1, 2024. “In whole, Health and fitness Web will present Medi-Cal managed treatment solutions in Los Angeles, Sacramento, Amador, Calaveras, Inyo, Mono, San Joaquin, Stanislaus, Tulare and Tuolumne counties,” Centene reported in a assertion.
It is the initially important company award Centene has introduced considering that a administration shake up fewer than a month ago.
In December, London declared some key variations to her administration group, elevating Ken Fasola to come to be president of the overall health insurer while promoting other individuals into new roles in her management crew.