Centene Corporation

Centene Corporation
Public
Traded as NYSE: CNC
S&P 500 Component
Industry Healthcare
Founded 1984
Headquarters St. Louis, MO, U.S.
Revenue Increase US$ 40.60 billion (2016)[1]
Increase US$ 558 million (2016)[1]
Increase US$ 562 million (2016)[1]
Total assets Increase US$ 20.20 billion (2016)[1]
Number of employees
 30,500 (2016) [1]
Website www.centene.com

Centene Corporation is a large publicly-traded company and a leading multi-line healthcare enterprise that serves as a major intermediary for both government-sponsored and privately-insured health care programs. The main lines of Centene include Medicare, Medicaid, The Health Insurance Marketplace System, (via the ACA), Tricare, as well as traditional commercial insurance.[2][3] It is the second-largest publicly-traded corporation in the state of Missouri.

Centene also contracts with other healthcare and commercial organizations to provide specialty services, including behavioral health care services, case management software, correctional insurance, in-home health services, life and health management, vision, pharmacy benefits management, and telehealth services.[4][5]

History

Founded as a single health plan in Wisconsin in 1984, Centene has established itself as a national leader in healthcare services. Chairman, President and CEO Michael F. Neidorff joined the company in 1996.[6][7]

Over the past 33 years, Centene has grown to become a $40 billion member of the Fortune 500 trading on the New York Stock Exchange. With over 30,000 employees across the country, Centene operates health plans that serve 2.9 million members in 24 states and 2 international markets and offers a full range of health insurance solutions to other healthcare and commercial organizations.[6][8]

July 2, 2015, Centene announced it would acquire Health Net. At announcement, it was estimated Health Net shareholders would own 29% of the combined company. March 2016, the merger was finalized and Health Net shareholders received 0.622 shares of Centene common stock and $28.25 in cash for each share at closing, making the total transaction value about $6 billion, including assumption of debt. After its acquisition of Health Net, Centene now provides healthcare to over 11 million people.[6][9][10]

Centene is currently ranked #66 on the Fortune 500 & #17 on the Fortune's "100 Fastest Growing Companies".

Specialty Companies

[11]

Member Programs and Services

Centene's health plans provide education and outreach programs.[12][6]

Controversies

Superior HealthPlan of Texas is alleged to have denied coverage of an infant's surgery for brain cancer at Texas Children's Hospital where it has been alleged to have previously paid claims for the infant, Savannah Snodgrass. Part of the source of the controversy lies in reports that that facility has a notably higher survival rate for such operations. Superior HealthPlan claims that it does not cover Texas Children's Hospital and that it has directed the family to a different facility. Superior HealthPlan said it is "confident" the family will find capable in-network providers. [13]

References

  1. 1 2 3 4 5 "Form 10-K Centene Corporation". Securities and Exchange Commission. 23 Feb 2015. Retrieved 5 May 2015.
  2. ↑ "About Us - Centene".
  3. ↑ Corporation, Centene. "Centene Sponsors National Council Of La Raza Conference".
  4. ↑ "Corporation - Home". Archived from the original on 2014-06-26.
  5. ↑ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=CNC
  6. 1 2 3 4 "Corporation - Home".
  7. ↑ "Michael F. Neidorff: Executive Profile & Biography - Businessweek".
  8. ↑ Doyle, Jim. "Centene was top performer in 2013 among St. Louis area public companies".
  9. ↑ http://www.centene.com/wp-content/uploads/2015/07/Centene_HealthNetPressRelease.pdf
  10. ↑ "Centene completes Health Net deal after protracted review".
  11. ↑ "Corporation - Home". Archived from the original on 2014-08-10.
  12. ↑ Corporation, Centene. "- Centene Corporation Reports 2014 Second Quarter Results & Raises Guidance -".
  13. ↑ Corbin, Cristina (9 July 2014). "Parents fight insurance company to keep baby's cancer surgery docs - Fox News".
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