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This statistic highlights Centene Corp’s Revenue Breakdown from Q1 2016 onwards, split between Premium, Premium tax, and health insurer fee, and services segments, reported on a quarterly basis.
Centene Corp is the leading multi-national healthcare enterprise this is dedicated to supporting human beings stay more healthy lives. They take a local approach – with nearby manufacturers and nearby groups to offer integrated, high-quality, and cost-powerful offerings to government-subsidized and business healthcare applications, that specialize in under-insured and uninsured people. They additionally offer training and outreach applications to tell and help individuals in getting access to quality, suitable healthcare offerings.
Centene Corp’s Revenue Breakdown
|Revenue breakdown||Q3 2020||Q2 2021||Q3 2021||Revenue Mix of Q3 2021|
|Premium tax and health insurer fee||$1.63||$2.16||$1.89||5.84%|
(All figures are in millions except percentages)
The total revenue of the company has shown an increase of $3.32 million, from $29.09 million in Q3 2020 to $32.41 million in Q3 2021 almost an increment of about 11.41% on a YOY basis. Moreover, for the latest quarter Q3 2021, 89.11% of the revenue has come from Premium Services.
They derive a large element in their top rate sales from operations in a constrained range of states, and effects of operations, economic function, or coin flows may be materially laid low with a lower in top rate sales or profitability in some of these states. Insurers are required to provide a minimal stage of blessings with insurance that varies primarily based totally on charges and out-of-pocket costs. Premium subsidies are furnished to people and households without getting entry to a different insurance and with earning normally among 100-400% of the federal poverty stage, with a few exceptions, to assist them to buy coverage thru the Marketplaces.
The revenue from the Premium has a major contribution of 89.11% to the total revenue of the company. From $26.54 million in Q3 2020 to $28.88 million in Q3 2021 the company’s revenue rose by 8.81% on a YOY basis. It also grew by 4.10% on a quarterly basis.
Premium Tax and Health Insurer Fee
If the Company is capable of negotiating repayment of quantities of those top-rate taxes or the HIF, it acknowledges sales related to the HIF on a straight-line foundation whilst the Company has binding agreements for such reimbursements, such as the “gross-up” to mirror the HIFs non-tax-deductible nature. Collectively, these sales are recorded as top-rate tax and fitness insurer price sales inside the Consolidated Statements of Operations.
Revenue from Premium tax and health insurer fees contributed 5.84% to the total revenue of the company. The Company’s Revenue has shown an increase of $0.26 million from $1.63 million in Q3 2020 to $1.89 million in Q3 2021. It has also shown an increase of 32.51% on a quarterly basis.
Their Specialty Services section consists of businesses imparting different healthcare products and services to Managed Care section and different outside customers. They offer a complete spectrum of controlled healthcare merchandise and offerings, often thru Medicaid, Medicare, and business merchandise.
This segment has a contribution of 5.05% to the total revenue of the company marking a growth of 78.26% on yearly basis from $0.92 million in Q3 2020 to $1.64 million in Q3 2021 respectively. It has shown an incline of $0.32 million on a quarterly basis.
About the company
Centene Corporation is a publicly-traded and controlled care corporation primarily based totally in St. Louis, Missouri. It serves as a middleman for government-subsidized and privately insured fitness care applications. Centene ranked No. 24 at the 2021 Fortune 500. Centene become based with the aid of using Elizabeth Brin as Managed Health Services, a nonprofit Medicaid plan in Milwaukee, Wisconsin in 1984.
They take a nearby method with nearby manufacturers and nearby groups – to offer integrated, high-quality, and cost-powerful offerings to government-subsidized and business healthcare applications, that specialize in under-insured and uninsured people. They additionally offer training and outreach applications to tell and help individuals in getting access to quality, suitable healthcare offerings.
Their populace fitness control, instructional and different projects are designed to assist individuals high-quality make use of the healthcare machine to make certain they get hold of suitable, medically important offerings and powerful control of routine, intense, and persistent fitness problems, ensuing in higher fitness outcomes. They integrate our decentralized nearby method for care with a centralized infrastructure of support functions such as finance, information systems, and claims processing.
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