After 25 years Dave Thomas, CEO of Markets & Medicaid is stepping down at the end of the year. Another long time higher up leaving...what the he-l is going on. LOL
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And now Jaimee. Something up with this.
i knew something was going on.. everything is strange
Medicare membership decreased again as well, now it's only 1.1 million, we had 1.5 million members just 2 years ago in 2022, we lost close to 500k medicare members in 2 years. At this rate, in 4 years, centene's medicare business will cease to exist. Unless they improve it and/or offload it before then
Gauging by what has been going on as of late - there will be a soon to come reorg ending in a significant RIF - followed by some id--t acquiring Centene which will lead to more RIF on some level. They lost millions of Medicaid enrollees AND marketplace enrollees - top that with the TriCare contract loss and the multitude of lawsuits for overcharging on Medicaid Rx (plus who the he-l knows what else they may be being sued for) - and let's also throw in the mix that they have been trying desperately to cut costs the last couple years by shipping as much of claims operations overseas as they can & ki-ling every incentive anyone had working for them. You would have to be extra thick to not be able to see the writing on the wall.
but made up a lot of the Medicaid losses with marketplace and beat the street, again. maybe Dave Thomas got homesick for Wendy’s.
Agreed. They're setting the company up for sale. Classic hedge fund tactics.
Based on the latest earnings today, Centene lost almost 3 million medicaid members compared to june 2023, might have something to do with him leaving. One can only speculate.
Centene is selling off subsidiaries left and right, in addition to centralizing numerous internal teams and operations. It all points to one thing - ACQUISITION.