http://www.modernhealthcare.com/article/20180430/NEWS/180439995
The takeaway:
Premium revenue dropped 7% in the first quarter of 2018
The company's total revenue was down 5.2%, ending the quarter at $4.6 billion, compared with $4.9 billion in the first quarter of 2017.
Cost-cutting efforts spurred a modest drop in Molina's general and administrative expense ratio, to 7.6% in the first quarter of 2018 from 8.9% at the same time in 2017. The company's medical-care ratio fell to 86.1% in that time, down from 88.4% in the first quarter of 2017.
Molina recently eliminated about 100 positions, a move it expects will save more than $10 million per year, Zubretsky said.