The deal between Centene and RxAdvance is the latest example of insurers buying or investing in PBMs to gain more control over pharmaceutical costs.
St. Louis-based Centene Corp. will buy primary-care provider Community Medical Group. The move is the latest in a string of deals pairing insurers with healthcare providers.
St. Louis-based insurer Centene Corp. grew its fourth-quarter and full-year 2017 revenue thanks to membership gains in its Medicaid and ACA exchange businesses.
The J.P. Morgan Healthcare Conference kicked off in San Francisco on Monday with news of more cost-cutting measures by Tenet and continued success on the ACA exchanges for Centene. Our reporters Shelby Livingston and Tara Bannow are there to offer daily observations and news.
Washington's insurance commissioner fined Centene subsidiary Coordinated Care $1.5 million and briefly banned it from selling individual plans because of its inadequate provider network.
Centene Corp. has named Cynthia Brinkley as president and COO. Brinkley, who is relative newcomer to the healthcare industry, was responsible for the integration of Health Net after Centene acquired it in 2016.
While other health insurers lose money on the Affordable Care Act insurance exchanges or ditch them altogether, Centene Corp. grew its third-quarter profit and revenue thanks to membership gains in those marketplaces.
Data released Wednesday reveal that the number of 2018 Medicare Advantage plans that performed well in the CMS' star-ratings program dropped slightly from 2017. At the same time, the amount of insurers that receive certain ratings hasn't changed significantly in recent years.
The $3.75 billion deal will turn Fidelis Care into Centene's New York subsidiary and will bolster Centene's already large Medicaid membership and ACA exchange business.
The deal with Centene Corp. in partnership with the Nevada-based Hometown Health will help ensure coverage is available to all Nevadans, after Anthem Blue Cross and Blue Shield pulled out of the state's healthcare exchange.
Centene posted strong second-quarter earnings growth Tuesday on a 10% increase in revenue and 7% rise in membership over the prior-year quarter. Growth was fueled by new exchange business.
Health insurer Centene announced plans Tuesday to expand into more Affordable Care Act insurance exchanges for next year, at a time when competitors are either pulling back from those markets or proposing steep price hikes to remain.