Centene revenue soars 98% from Q2 2015 to Q2 2016: 4 key points

St. Louis, Mo.-based Centene has released its financial results for the second quarter ended June 30.

Here are four things to know about the health insurer's second-quarter finances.

1. Centene reported a profit of $168 million, or 98 cents a share, up from $88 million, or 72 cents a share, a year earlier, according to The Wall Street Journal.

2. In addition, Centene's revenue increased 98 percent, from $5.5 billion in the second quarter of 2015 to $10.9 billion in the second quarter of 2016. Centene attributed the increase primarily to its acquisition of Woodland Hills, Calif.-based Health Net as well as the effects of expansions, acquisitions or new programs in many of its states in 2015.

3. Centene's managed care membership reached 11.4 million in the second quarter of 2016, an increase of 6.8 million members, or 148 percent growth, compared to the second quarter of 2015.

4. Centene's medical-loss ratio, or how much of members' premium the payer spends on clinical services and quality improvement, was 86.6 percent in the second quarter of 2016, down from 89.1 percent a year ago, according to The Wall Street Journal.

 

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