Centene Corp’s Revenue by Segment (2016-2022)

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This statistic highlights Centene Corp’s Revenue by Segment, split between Managed Care and Specialty Services, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Centene Corp’s Revenue by Segment, split between Managed Care and Specialty Services, reported on a quarterly basis from Q1 2016 onwards.

Centene Corp’s Revenue by Segment

Centene’s reportable business segments are determined based on factors such as the existence of separate senior management teams, operating activities’ nature, and the type of information that is presented to the chief operating decision-maker.

Revenue by Segment Q3 2020  Q4 2020  Q1 2021  Q3 2021  Q2 2022  Contribution in Q2 2022
Managed care $28.02 $27.72 $28.60 $30.89 $29.59 86.65%
Specialty Services $3.77 $4.95 $4.27 $4.73 $4.56 13.35%
Total $31.79 $32.67 $32.87 $35.62 $34.15 100.00%

(All figures are in billions, except percentages)

Total revenue recorded was highest in the third quarter of 2021 at $35.616 billion. The lowest revenue recorded was in the third quarter of 2020 $31.79 billion. YoY revenue growth from Q3 2020 to 2021 was 12%.

Managed Care

This segment includes the company’s health plans which comprise all the functions that are needed to operate them. It provides individuals with health plan coverage—this is done through government-subsidized as well as commercial programs. 

Managed care is the largest revenue contributor of Centene Corp. Revenue from this segment was the highest in Q3 2021 at $30.889 billion. The lowest revenue recorded was in Q4 2020. On average, this segment contributes approximately 86-87% to the revenue total. YoY growth from Q3 2020 to 2021 was 10.26%. QoQ decline from Q3 to Q4 2020 was 1.06%, and the QoQ growth from Q4 2020 to Q1 2021 was 3.19%.

In the third quarter of 2021, the company’s total revenue marked a YoY increase of 10%. This was due to the growth of Medicaid membership which resulted from eligibility redeterminations’ suspension, membership growth in the Medicare business, the commencement of their contracts in North Carolina, and their recently acquired Circle Health. This was partially offset by the health insurer fee being repealed. 

Specialty Services

It comprises Centene Corp’s specialty companies that offer varied, auxiliary healthcare products and services to their other segment i.e. the Managed Care segment, along with other external customers.

This segment’s total revenue increased by 25% from Q3 2020 to 2021. This mainly resulted from new business acquisitions which include PANTHERx, increased services related to Managed Care segment’s membership growth, and their correctional business’ newly awarded contracts. This was, in part, offset by the pharmacy contract’s expiration with their Illinois health plan that was previously divested.

The fourth quarter of 2020 grossed the highest revenue from the above-given timeline. The lowest revenue recorded was in the previous quarter (Q3 2020) at $3.774 billion. QoQ growth from Q3 to Q4 2020 was a decent 31.21%, and the decline from Q4 2020 to Q1 2021 was 13.8%. Revenue grew year-over-year by 25.25% (from Q3 2020 to 2021).

In 2020, the company’s segments: Managed Care and Specialty Services contributed 96% and 4%, respectively, to Centene’s external revenues. Their membership total chalked up to 25.5 million in 2020. For the same year, their total revenues were $111.1 billion, and their net earnings were $1.8 billion. Their total cash flow from operations amounted to $5.5 billion.

About the Company

Founded by Michael F. Neidorff in 1984, this company is a leading multinational healthcare enterprise. It is committed to helping people become healthier in their daily lives. Its local approach focuses on local brands and teams that provide high quality, fully integrated, and cost-effective services to commercial and government-sponsored healthcare programs—by focusing on individuals that are either under-insured or uninsured. In addition to this, it provides education as well as outreach programs that inform and assist members in accessing appropriate and good-quality healthcare services. Centene Corp.’s headquarters are located in St. Louis, Missouri. The company is listed on NYSE under the ticker symbol ‘CNC’.

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