Elevance Health named a new CFO and published new research in the first weeks of August.
Here are eight updates about the payer Becker's has published since July 27.
- Elevance Health executive vice president and CFO John Gallina is retiring from his role and will be replaced by Mark Kaye. Mr. Kaye has served as CFO at Moody's Corp. since 2018 and will serve as CFO designate from Sept. 6 to Nov. 1, when he will then take over the full role.
- Acquisitions of previously independent hospitals by health systems are both raising prices and reducing the quality of care, according to a report from the Elevance Health Public Policy Institute. The American Hospital Association criticized the report, calling it highly "biased."
- Changes in CMS' risk model for Medicare Advantage and rising medical costs among the Medicare population could lead to changes in benefit design, payer executives told investors in second-quarter earnings calls. Felicia Norwood, president of government health benefits at Elevance Health, said the company considered the rate notices in its bid process and feels good about its offerings for 2024.
- Elevance Health is the 51st largest company in the world by revenue, according to Fortune's "Global 500" list.
- Darrell Gray, MD, was named president of Wellpoint Maryland, a Medicaid subsidiary of Elevance Health. Dr. Gray most recently served as chief health equity officer for Elevance Health.
- Elevance Health is rebranding its Amerigroup subsidiaries as Wellpoint. Pending regulatory approval, the new name will take effect in 2024 in Arizona, Iowa, New Jersey, Tennessee, Texas and Washington. Amerigroup Maryland rebranded as Wellpoint in January.
- From the CFO of its government business division to the COO of Carelon, these are eight executive departures from Elevance Health and its subsidiaries over the last year.
- Medicare Advantage enrollees who use supplemental benefits are more likely to live in areas with fewer resources, according to a report from the Elevance Health Public Policy Institute.