CVS Health reported the highest medical loss ratio in the first months of 2024; it rose 5.8 percentage points year over year to 90.4%.
Increased inpatient costs related to respiratory syncytial virus and other seasonal admissions drove rising spending in the quarter, CVS executives said. Outpatient services, including mental health and pharmacy, and dental spending also contributed to the costs.
Here is how payers compared on medical cost ratios in the first quarter of 2024:
Q1 2024: 90.4%
Q1 2023: 84.6%
Q1 2024: 88.9%
Q1 2023: 85.9%
Q1 2024: 87.1%
Q1 2023: 87%
Q1 2024: 85.6%
Q1 2023: 85.8%
Q1 2024: 84.3%
Q1 2023: 82.2%
Q1 2024: 79.9%
Q1 2023: 81.3%
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.