Centene (CNC), Pyx Health Unite to Treat Mental Health Issues
Centene Corporation’s CNC Managed Care brand and a wholly-owned subsidiary, Delaware First Health, announced its partnership with Pyx Health. Under this partnership, Delaware First Health’s members will get access to Pyx Health’s compassionate human support program and interactive technology platform. These initiatives will be able to help detect loneliness and provide users with relevant sources to aid in the mental and social health recovery process.
This move bodes well for Centene as Medicaid members will be able to use the resources at any time of the day, thereby increasing patient satisfaction. Loneliness is often found linked to chronic diseases and illnesses and through this unique technology, the company can reduce its claim costs as healthy insured people are more likely to reduce the impact of chronic diseases. Delaware First Health plans to roll out the mobile app to its members in 2024, thereby reducing higher rates of obesity, anxiety, heart diseases as a result of loneliness.
With the onset of the pandemic, loneliness became a widespread problem leading to further serious diseases. Innovative technology coupled with human intervention is expected to improve patient satisfaction and thereby improve CNC’s Medicaid quality scores. This will further translate into better retention rates for Centene.
The Pyx Health Solution’s app uses empathetic and data-driven technology to recognize loneliness among people. Consistent human intervention is correlated with improved health outcomes. This move highlights Centene’s efforts to improve overall health results as well as reduce mental health emergencies.
Moreover, to get access to Pyx Health’s revolutionary technology, more people may be lured to enroll in one of CNC’s Medicaid plans. This, in turn, will drive its membership growth and boost premiums.
Shares of Centene have rallied 5.9% in the past three months against the industry’s 5.4% decline. CNC currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Medical space are The Cigna Group CI, ANI Pharmaceuticals, Inc. ANIP and Cencora, Inc. COR. Each of these companies currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cigna’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 2.9%. The Zacks Consensus Estimate for CI’s 2024 earnings suggests 13% growth from the year-ago reported figure.
The consensus estimate for CI’s 2024 earnings has moved 0.3% north in the past 30 days. Shares of Cigna have gained 16.9% in the past year.
ANI Pharmaceuticals’ earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 105.8%. The Zacks Consensus Estimate for ANIP’s 2023 earnings is pegged at $4.51 per share, which indicates more than a two-fold increase from the prior-year reported figure. The same for revenues indicates growth of 51.1% from the year-ago reported figure.
The consensus estimate for ANIP’s 2023 earnings has moved 0.7% north in the past 30 days. Shares of ANIP Pharmaceuticals have gained 52.4% in a year.
Cencora’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 6.7%. The Zacks Consensus Estimate for COR’s fiscal 2024 earnings and revenues indicates a rise of 12% and 11.5%, respectively, from the year-ago reported levels.
The Zacks Consensus Estimate for COR’s fiscal 2024 earnings has moved 4.3% north in the past 30 days. Shares of Cencora have rallied 52.1% in the past year.
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