Beginning in 2024, Express Scripts will administer pharmacy benefits for 20 million Centene members and provide access to its network of retail pharmacies.
“Our strong third quarter and year-to-date results provide Centene with positive momentum as we move towards 2023,” CEO Sarah London said. “Selecting our future PBM partner represents a major Value Creation Plan milestone and positions us to capture significant value for our members, partners, and stakeholders in 2024 and beyond.”
Total revenues increased 11 percent to $35.9 billion from $32.4 billion year over year and were driven by Medicaid and Medicare growth, along with the acquisition of Magellan Health. Total revenues for 2022 are nearly $109 billion. The company’s 2022 earnings outlook is between $142.7 billion and $144.7 billion.
Operating expenses in the third quarter totaled $35.4 billion, an 11.1 percent increase from $31.9 billion year over year.
Net earnings in 2022 are $1.4 billion, with $738 million from the third quarter.
Total membership is 26.8 million people, including 15.7 million Medicaid members, 2.5 million commercial and 1.5 million Medicare.
