Do you wonder where your healthcare dollars go sometimes? Here’s one example of the huge revenues and profits made from the payer side and all attained with those algorithms for business intelligence primarily. The company offers centralized finance, information systems, claims processing and medical management support functions. We are talking those huge profit making “transactions” which are algorithms that run to audit, analyze and create reporting systems to find areas of savings and sure they are worth some money but way over powering what most hospitals and providers can afford today, but yet you can see the dollar results. The client focus includes pharmaceutical groups, managed care organizations and employer groups, where the dollar to attain are located.
Company ownership includes Fidelity management and research and Vanguard Group. Efficiencies are seen granted via technology but looks at the profits and dollars it costs companies to get there, again this is the huge area eating up the cost of healthcare that runs in the background and is partially the reasons that patients are ending up running short on the care side as dividends are the number one priority so one more example on how Wall Street is making huge algorithmic profits from using their Algo Men for dollar optimization. There’s so much profit that the company broke into the Fortune 500 for the first time. BD
From the website:
In addition to operating locally-based health plans in the states we serve, Centene offers a full range of healthcare solutions for the rising number of uninsured Americans. We also contract with our health plans and other healthcare and commercial organizations to provide specialty services such as behavioral health, life and health management, managed vision, telehealth, pharmacy benefits management and medication adherence.
Centene Corporation (NYSE: CNC) announced today its 2011 financial guidance. The discussions below are in the context of continuing operations and all financial ratios exclude premium taxes.
For its 2011 fiscal year, the Company expects:
- Premium and Service revenue in the range of $4.9 billion to $5.1 billion.
- Earnings per diluted share of approximately $2.00 to $2.10.
- Consolidated Health Benefits Ratio of approximately 84% to 85% which is within our long-term targeted range of 84% to 86%.
- Consolidated G&A expense ratio in the range of 12.0% to 12.5%.
- Effective tax rate, excluding non-controlling interest, of approximately 38.5% and diluted shares outstanding of approximately 51.5 million.
- Days in claims payable between 43 and 48 as we continue to pay claims faster through improvements in our operations.
Centene anticipates premium and service revenue in the range of $4.9 billion to $5.1 billion for fiscal 2011
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