ST. LOUIS, March 9, 2022 /PRNewswire/ -- Centene Corporation
(NYSE: CNC) announced today its Indiana subsidiary, Managed Health Services
(MHS), has been selected by the Indiana Department of
Administration to continue serving Hoosier Healthwise and Healthy
Indiana Plan members with Medicaid and Medicaid alternative managed
care and care coordination services. The new contract term is four
years and includes the option for two, one-year renewals.
"For more than 25 years, MHS has been committed to increasing
access to high-quality healthcare for Hoosiers," said Brent Layton, Centene's President and Chief
Operating Officer. "We look forward to further strengthening our
relationship with the state, our network of providers and community
partners as we deliver patient-focused care and improve health
outcomes while reducing the cost of healthcare delivery in
Indiana."
Under the Hoosier Healthwise program, MHS will continue
providing services to children who are Indiana Health Coverage
Programs (IHCP) members up to age 19 and to pregnant women. Through
the Healthy Indiana Plan Medicaid alternative program, MHS will
continue providing services to adults ages 19 – 64 using a proven,
consumer-driven approach. MHS leverages a strong network of
providers statewide to deliver high-quality care and offers
supports such as care coordination services and social determinants
of health programs to ensure members' holistic needs are met.
"Our approach reflects a deep understanding of the unique
challenges and opportunities our members and their families face
every day," said Kevin O'Toole, MHS
President and CEO. "We believe our focus on the wellness of the
whole person, along with our robust local presence in Indiana, allows MHS to uniquely address the
health needs of our communities."
MHS has been providing healthcare services to Indiana communities since 1995. The health
plan currently serves more than 400,000 members across the state
through Medicaid, Marketplace and Medicare plans.
About Centene Corporation
Centene Corporation, a
Fortune 25 company, is a leading multi-national healthcare
enterprise that is committed to helping people live healthier
lives. The Company takes a local approach – with local brands and
local teams – to provide fully integrated, high-quality, and
cost-effective services to government-sponsored and commercial
healthcare programs, focusing on under-insured and uninsured
individuals. Centene offers affordable and high-quality
products to nearly 1 in 15 individuals across the nation, including
Medicaid and Medicare members (including Medicare Prescription Drug
Plans) as well as individuals and families served by
the Health Insurance Marketplace, the TRICARE program, and
individuals in correctional facilities. The Company also serves
several international markets, and contracts with other healthcare
and commercial organizations to provide a variety of specialty
services focused on treating the whole
person. Centene focuses on long-term growth and value
creation as well as the development of its people, systems, and
capabilities so that it can better serve its members, providers,
local communities, and government partners.
Centene uses its investor relations website to publish important
information about the Company, including information that may be
deemed material to investors. Financial and other information about
Centene is routinely posted and is accessible on Centene's investor
relations website, https://investors.centene.com/.
Forward-Looking Statements
All statements, other
than statements of current or historical fact, contained in this
press release are forward-looking statements. Without limiting
the foregoing, forward-looking statements often use words such as
"believe," "anticipate," "plan," "expect," "estimate," "intend,"
"seek," "target," "goal," "may," "will," "would," "could,"
"should," "can," "continue" and other similar words or expressions
(and the negative thereof). Centene (the Company, our, or we)
intends such forward-looking statements to be covered by the
safe-harbor provisions for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995, and we are
including this statement for purposes of complying with these
safe-harbor provisions. In particular, these statements include,
without limitation, statements about our future operating or
financial performance, market opportunity, value creation strategy,
competition, expected activities in completed and future
acquisitions, including statements about the impact of our recently
completed acquisition of Magellan Health (the Magellan
Acquisition), other recent and future acquisitions and
dispositions, investments and the adequacy of our available cash
resources. These forward-looking statements reflect our current
views with respect to future events and are based on numerous
assumptions and assessments made by us in light of our experience
and perception of historical trends, current conditions, business
strategies, operating environments, future developments and other
factors we believe appropriate. By their nature, forward-looking
statements involve known and unknown risks and uncertainties and
are subject to change because they relate to events and depend on
circumstances that will occur in the future, including economic,
regulatory, competitive and other factors that may cause our or our
industry's actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. These statements
are not guarantees of future performance and are subject to risks,
uncertainties and assumptions. All forward-looking statements
included in this press release are based on information available
to us on the date hereof. Except as may be otherwise required by
law, we undertake no obligation to update or revise the
forward-looking statements included in this press release, whether
as a result of new information, future events or otherwise,
after the date hereof. You should not place undue reliance on
any forward-looking statements, as actual results may differ
materially from projections, estimates, or other forward-looking
statements due to a variety of important factors, variables and
events including, but not limited to: our ability to
accurately predict and effectively manage health benefits and other
operating expenses and reserves, including fluctuations in medical
utilization rates due to the impact of COVID-19; the risk that the
election of new directors, changes in senior management and
inability to retain key personnel may create uncertainty or
negatively impact our ability to execute quickly and
effectively; uncertainty as to the expected financial
performance of the combined company following the recent completion
of the Magellan Acquisition; the possibility that the expected
synergies and value creation from the Magellan Acquisition or the
WellCare Acquisition (or other acquired businesses) will not be
realized, or will not be realized within the respective expected
time periods; the risk that unexpected costs will be incurred
in connection with the integration of the Magellan Acquisition or
that the integration of Magellan Health will be more difficult or
time consuming than expected, or similar risks from other
acquisitions we may announce or complete from time to time;
disruption from the integration of the Magellan Acquisition or from
the integration of the WellCare Acquisition, or similar risks from
other acquisitions we may announce or complete from time to time,
including potential adverse reactions or changes to business
relationships with customers, employees, suppliers or regulators,
making it more difficult to maintain business and operational
relationships; a downgrade of the credit rating of our
indebtedness; competition; membership and revenue declines or
unexpected trends; changes in healthcare practices, new
technologies, and advances in medicine; increased healthcare
costs; changes in economic, political or market conditions;
changes in federal or state laws or regulations, including changes
with respect to income tax reform or government healthcare programs
as well as changes with respect to the Patient Protection and
Affordable Care Act and the Health Care and Education Affordability
Reconciliation Act (collectively referred to as the ACA) and any
regulations enacted thereunder that may result from changing
political conditions, the new administration or judicial
actions; rate cuts or other payment reductions or delays by
governmental payors and other risks and uncertainties affecting our
government businesses; our ability to adequately price products;
tax matters; disasters or major epidemics; changes in expected
contract start dates; provider, state, federal, foreign and other
contract changes and timing of regulatory approval of contracts;
the expiration, suspension, or termination of our contracts with
federal or state governments (including, but not limited to,
Medicaid, Medicare, TRICARE or other customers); the difficulty of
predicting the timing or outcome of legal or regulatory proceedings
or matters, including, but not limited to, our ability to resolve
claims and/or allegations made by states with regard to past
practices, including at Envolve Pharmacy Solutions, Inc. (Envolve),
as our pharmacy benefits manager (PBM) subsidiary, within the
reserve estimate we have recorded and on other acceptable terms, or
at all, or whether additional claims, reviews or investigations
relating to our PBM business will be brought by states, the federal
government or shareholder litigants, or government investigations;
timing and extent of benefits from strategic value creation
initiatives, including the possibility that these initiatives will
not be successful, or will not be realized within the expected time
periods; challenges to our contract awards; cyber-attacks or
other privacy or data security incidents; the exertion of
management's time and our resources, and other expenses incurred
and business changes required in connection with complying with the
undertakings in connection with any regulatory, governmental or
third party consents or approvals for acquisitions; changes in
expected closing dates, estimated purchase price and accretion for
acquisitions; the risk that acquired businesses will not be
integrated successfully; restrictions and limitations in
connection with our indebtedness; our ability to maintain or
achieve improvement in the Centers for Medicare and Medicaid
Services (CMS) Star ratings and maintain or achieve improvement in
other quality scores in each case that can impact revenue and
future growth; availability of debt and equity financing, on terms
that are favorable to us; inflation; foreign currency fluctuations
and risks and uncertainties discussed in the reports that Centene
has filed with the Securities and Exchange Commission. This list of
important factors is not intended to be exhaustive. We discuss
certain of these matters more fully, as well as certain other
factors that may affect our business operations, financial
condition and results of operations, in our filings with the
Securities and Exchange Commission (SEC), including our annual
report on Form 10-K, quarterly reports on Form 10-Q and current
reports on Form 8-K. Due to these important factors and risks, we
cannot give assurances with respect to our future performance,
including without limitation our ability to maintain adequate
premium levels or our ability to control our future medical and
selling, general and administrative costs.
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SOURCE Centene Corporation