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Elevance Makes a Late Cut to Its 2024 Forecast
Elevance makes a late cut to its 2024 forecast after seeing trouble in Medicaid
Elevance Health surprised Wall Street with a rare, late-year guidance cut Thursday after a jump in Medicaid costs marred its third quarter.Shares of the Blue Cross-Blue Shield insurer tumbled after it joined rival UnitedHealth in noting that rates it receives for managing government-funded Medicaid programs weren't enough to offset a rise in costs.
Elevance Health slashes profit forecast on persistently high medical costs
By Bhanvi Satija and Sneha S K (Reuters) -Elevance Health slashed its full-year profit forecast on Thursday, hurt by increased medical costs in its government-backed plans, becoming the latest health insurer to feel the pinch of persistently high demand for healthcare services.
Elevance Tumbles On Forecast Cut, Third-Quarter Earnings Miss
Elevance Health Inc. shares sank in early trading after the insurer cut its outlook for the year and reported third-quarter profit below Wall Street expectations, citing insufficient payments from Medicaid.
3h
on MSN
Elevance Shares Dive After Insurer Faces ‘Unprecedented’ Medicaid Challenge
Elevance Health earnings fell short of Wall Street projections in the latest sign of how medical expenses are squeezing ...
Fierce Healthcare
8h
Medicaid drags Elevance Health as it misses on profit in Q3
Elevance Health fell short of Wall Street analysts' predictions, posting $1 billion in profit amid rising medical costs. | ...
Modern Healthcare
7h
Elevance shares plummet as its Medicaid business struggles
The results show a worsening outlook for health insurers that for years have relied on government programs for growth.
1d
After Blue Cross, Tufts appeal $15B Medicaid contract, state agrees to reevaluate
Rhode Island officials have agreed to take a fresh look at the bids received for a five-year, $15.5 billion Medicaid contract ...
McKnight's Long-Term Care News
1d
Report reveals how medicaid payments stack up against nursing homes’ cost of care
A new government survey of 13,285 US nursing homes has found that the average provider received 82 cents on the dollar from ...
WFYI
3d
The Checkup: What could a second Trump term mean for Medicaid?
Some experts say a second Trump term could mean big cuts to the public health insurance program for low-income individuals.
5h
on MSN
Medicaid will cover Native American traditional healthcare in New Mexico
Native American traditional healthcare will now be covered by Medicaid in New Mexico. New Mexico was one of four states to ...
17h
Medicaid funding approved for traditional health care practices for Native Americans
New Mexico is one of a few states to secure Medicaid funding to cover traditional health care practices for Native Americans.
Healthcare Finance News
15h
Medicaid to cover traditional Tribal community healthcare
Coverage applies to specific facilities, including the Indian Health Service, the 17th largest healthcare system in the ...
8h
Elevance Health 3Q Revenue Beats Estimates Amid Medicaid-Related Challenges
The health company logged net income of $1.01 billion, or $4.36 a share, for the third quarter ended Sept. 30, declining from $1.3 billion, or $5.45 a share, a year earlier. Adjusted earnings were ...
Missoula Current
1d
Montana looks to fast-track Medicaid access for older applicants
As Montana’s population ages, providers serving low-income seniors say more people aren’t getting the care they need as they ...
1d
on MSN
Harrisburg woman pleads guilty to submitting $1 million in fraudulent Medicaid claims
A Harrisburg woman plead guilty Tuesday to charges of health care and bank fraud.Ester N. Mbaya, 43, who was president of ...
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