Well that’s pretty much the story and you can read it below, so not much change with business models and profit and changing algorithms to adjust for higher profit levels. The revenue was down a little but this shows more profit on less money so again algorithms and less getting care and submitting claims. There are still a lot of unsolved accusations in California in particular from October of 2010. BD
WellPoint accused of Misrepresenting Cancellation Practices–We Better Start Certifying Those Algorithms Used By Insurance Carriers–Just Like We Certify Medical Records-The Missing Link
WellPoint Inc.'s (WLP) first-quarter earnings rose 5.7%, topping analysts' estimates, as the company saw better margins and increased investment gains.
WellPoint also boosted its full-year revenue forecast, calling for about $59.9 billion of revenue, compared with its previous estimate of $59.5 billion.
"We are pleased with our positive start to 2011," said Chairwoman and Chief Executive Angela Braly. "Our membership and earnings results are higher than we originally anticipated and we are continuing to become a more efficient and effective company."
Like other health insurers, WellPoint benefited from lower-than-expected use of medical services by members last year. Standard & Poor's boosted its outlook on WellPoint in March, saying its business is strong compared with its peers.
WellPoint reported a profit of $926.6 million, or $2.44 a share, up from $876.8 million, or $1.96, a year earlier. The most recent results include 9 cents a share of investment gains, while the year-earlier period included 4 cents of investment gains and a 3-cent charge related to intangible assets. The most recent quarter's earnings excluding items totaled $2.35 a share, up from $1.95 a year earlier.