Accounting & Financial Management
Severe volume disruption to operations appears to be waning, but expense pressures are still elevated and pronounced.
The majority of bad debt now is associated with patients with insurance, contributing to the net revenue challenge for hospitals.
Results of the HealthEdge survey show the pace of change has led to shifting priorities for health plan leaders.
This comes despite a rapid decline in COVID-19 hospitalizations following the winter surge, with the challenges expected to be widespread.
A $37.2 million net loss in Q1 spurred the decision to resize the organization, which CEO Vijay Kotte said "was not made lightly."
Expenses in June were generally down from May but remain extremely elevated from prepandemic levels.
The agency claims it collected $272 million of those overpaid claims, but supporting documentation indicates just $120 million.
The dip was driven largely by a decline in healthcare price growth relative to economy-wide inflation.
One of the main factors influencing revenue was admissions at its acute care facilities, which were not as high as anticipated.
Centene framed the move as part of a review of "strategic alternatives" for its international portfolio.