Centene (CNC) Expands Evolent Partnership to Boost Quality
Centene Corporation CNC has announced that it is expanding the use of Evolent Health, Inc.’s EVH oncology solution, strengthening the specialty care partnership between the two. Evolent’s value-based specialty care platform provides innovative solutions to payers and providers.
Centers for Medicare and Medicaid Services estimates the total Medicare market to grow from $865 billion in 2021 to $1.5 trillion in 2029. More than 50% of eligible Medicare members are yet to enroll in a Medicare Advantage product, indicating a huge market opportunity. The partnership will boost Centene’s Medicare segment revenues through improved quality and administration.
With reduced worries of administration, payers can focus on providing services at the right time, and better serving consumers to navigate and get the necessary care. Through Evolent’s Technology and Services offering, it has provided a platform that helps improve quality and financial accountability for payers. Its Precision Pathways combines the latest science and new therapies to form an ecosystem of improved quality of services and reduced costs.
Centene’s partnership expansion with Evolent comes amid growing Medicare membership in 2022. It expanded WellCare into three new states and 327 new counties. Administrative simplification via automation and data science will provide Centene transparency into their data and operations, enabling them to make informed decisions. It’ll also make administration autonomous and less exposed to delays and errors.
Price Performance
Shares of Centene have lost 22.4% year to date compared with the industry’s decline of 11.5%.
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Zacks Rank & Key Picks
Centene currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical sector are Amphastar Pharmaceuticals, Inc. AMPH and Kiniksa Pharmaceuticals, Ltd. KNSA. AMPH sports a Zacks Rank #1 (Strong Buy) and KNSA carries a Zacks Rank #2 (Buy) at present.You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Amphastar Pharmaceuticals outpaced estimates in all the last four quarters, the average surprise being 35%. The Zacks Consensus Estimate for AMPH’s 2023 earnings suggests an improvement of 3.1% from the year-ago reported figure, while the same for revenues indicates growth of 9.4%. The consensus mark for AMPH’s 2023 earnings has moved 12.8% north in the past 30 days.
The bottom line of Kiniksa Pharmaceuticals outpaced the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 66.2%. The Zacks Consensus Estimate for KNSA’s 2024 revenues indicates growth of 39.8% from the year-ago reported figure.
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Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report
Centene Corporation (CNC) : Free Stock Analysis Report
Evolent Health, Inc (EVH) : Free Stock Analysis Report
Kiniksa Pharmaceuticals, Ltd. (KNSA) : Free Stock Analysis Report
