Centene hits $126B in 2021 revenue, up 13%: 10 things to know

Centene hit the top end of its 2021 revenue outlook, landing at $126 billion largely thanks to Medicare and Medicaid growth. 

10 things to know:

1. The payer reported $32.6 billion in fourth quarter revenue, bringing Centene's year-end revenue to $126 billion. 

2. The revenue growth was attributed to both Medicare and Medicaid membership growth, as well as acquiring Pantherx and Circle Health. 

3. Centene's fourth quarter revenue was up 15 percent year over year, with its full-year revenue up 13 percent. 

4. Revenue growth contributed to a reported $598 million in fourth quarter profits and $3 billion in year-end profit. 

5. Broken down by line of business, Centene took a minor loss on commercial revenue in 2021, down 1 percent on the year. 

6. However, the payer reported 13 percent growth in year-over-year Medicaid revenue. It also reported 22 percent growth in Medicare revenue. 

7. In 2021, Centene's total Medicaid enrollment increased by 1.4 million members, up 10.3 percent year over year. 

8. Medicaid growth anchored the payer's total enrollment, which was up 1.1 million people in 2021. 

9. The payer reported a 87.8 percent health benefits ratio, up from 86.2 percent in 2020. 

10. Centene anticipates 2022 revenues will be between $135.9 billion and $137.9 billion.

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