ST. LOUIS, April 1, 2020 /PRNewswire/ -- Centene (NYSE:
CNC) today announced a series of additional measures to support the
most vulnerable populations during the COVID-19 pandemic. Building
on actions already taken in partnership with the White House
Coronavirus Task Force, the Company announced it will cover the
cost of COVID-19-related treatments for Medicare, Medicaid and
Marketplace members. In order to expedite care and eliminate the
administrative burden to providers, the Company is also eliminating
the need for providers to collect co-pays and removing
authorization requirements for COVID-19 related treatment.
Additionally, the Company announced today that it will deliver
new critical support to Safety Net providers, including Federally
Qualified Healthcare Centers (FQHCs), behavioral health providers,
and long-term service and support organizations.
"As a country, we must come together to serve the people that
will be hit hardest by the COVID-19 pandemic. We are driven to help
our communities and members in their time of need, and the measures
announced today are designed to help our most vulnerable
populations," said Michael Neidorff,
Chairman, President and CEO of Centene. "We will also continue to
support our key local partners, including Safety Net providers, as
they are the essential service providers in the communities we
serve."
Cost waivers for COVID-19 treatment
Effective immediately, Centene will waive COVID-19 related prior
authorizations and member cost sharing for related screening,
testing and treatment for all Medicare, Medicaid and Marketplace
members. As part of this effort, the Company will cover all
telehealth services related to COVID-19 for these members, as well
as all covered healthcare services that can be administered
virtually through June 30, 2020.
Comprehensive support for Safety Net providers
Today, the Company is also announcing the creation of a
comprehensive financial aid package in response to the
unprecedented needs of our Safety Net providers including FQHCs,
behavioral health providers and community-based behavioral health
organizations, and long-term service and support organizations
operating on the front lines of the pandemic.
Specifically, Centene is:
- Facilitating the sourcing, ordering, and shipping of personal
protective equipment (PPEs) to our provider partners that enable
them to meet the urgent needs of patients. Centene is already in
the process of expediting the distribution of approximately 2
million pieces of PPE including safety goggles, facemasks, hand
sanitizers and disaster kits, and we will continue these efforts in
coming weeks.
- Partnering with our providers to deploy resources to service
areas that have been most impacted by newly created quarantine and
isolation centers.
- Providing data and support that enable providers to reallocate
resources based upon utilization changes caused by the
pandemic.
- Working to ensure that our community Safety Net providers and
organizations have long-term sustainability beyond the immediate
crisis.
- Providing assistance in securing small business loans to
specifically help behavioral health providers and community-based
behavioral health organizations, long-term service support
organizations and other Safety Net providers gain access to
government sponsored small business loans, and telehealth
technology.
About Centene Corporation
Centene Corporation, a Fortune 100 company, is a leading
multi-national healthcare enterprise that is committed to helping
people live healthier lives. The Company takes a local approach –
with local brands and local teams - to provide fully integrated,
high-quality, and cost-effective services to government-sponsored
and commercial healthcare programs, focusing on under-insured and
uninsured individuals. Centene offers affordable and high-quality
products to nearly 1 in 15 individuals across the nation, including
Medicaid and Medicare members (including Medicare Prescription Drug
Plans) as well as individuals and families served by the Health
Insurance Marketplace, the TRICARE program, and individuals in
correctional facilities. The Company also serves several
international markets, and contracts with other healthcare and
commercial organizations to provide a variety of specialty services
focused on treating the whole person. Centene focuses on long-term
growth and the development of its people, systems and capabilities
so that it can better serve its members, providers, local
communities, and government partners.
Centene uses its investor relations website to publish important
information about the company, including information that may be
deemed material to investors. Financial and other information about
Centene is routinely posted and is accessible on Centene's investor
relations website, http://www.centene.com/investors.
Forward-Looking Statements
All statements, other than statements of current or
historical fact, contained in this press release are
forward-looking statements. Without limiting the foregoing,
forward-looking statements often use words such as "believe,"
"anticipate," "plan," "expect," "estimate," "intend," "seek,"
"target," "goal," "may," "will," "would," "could," "should," "can,"
"continue" and other similar words or expressions (and the negative
thereof). Centene (the Company, our, or we) intends such
forward-looking statements to be covered by the safe-harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995, and we are including this
statement for purposes of complying with these safe-harbor
provisions. In particular, these statements include, without
limitation, statements about our future operating or financial
performance, market opportunity, growth strategy, competition,
expected activities in completed and future acquisitions, including
statements about the impact of our recently completed acquisition
(the WellCare Acquisition) of WellCare Health Plans, Inc.
(WellCare), other recent and future acquisitions, investments and
the adequacy of our available cash resources. These
forward-looking statements reflect our current views with respect
to future events and are based on numerous assumptions and
assessments made by us in light of our experience and perception of
historical trends, current conditions, business strategies,
operating environments, future developments and other factors we
believe appropriate. By their nature, forward-looking statements
involve known and unknown risks and uncertainties and are subject
to change because they relate to events and depend on circumstances
that will occur in the future, including economic, regulatory,
competitive and other factors that may cause our or our industry's
actual results, levels of activity, performance or achievements to
be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these
forward-looking statements. These statements are not guarantees of
future performance and are subject to risks, uncertainties and
assumptions. All forward-looking statements included in this press
release are based on information available to us on the date
hereof. Except as may be otherwise required by law, we undertake no
obligation to update or revise the forward-looking statements
included in this press release, whether as a result of new
information, future events or otherwise, after the date hereof. You
should not place undue reliance on any forward-looking statements,
as actual results may differ materially from projections,
estimates, or other forward-looking statements due to a variety of
important factors, variables and events including but not limited
to: the impact of COVID-19 on global markets, economic conditions
and the healthcare industry and our results of operations, which is
unknown, uncertainty as to our expected financial performance
following completion of the WellCare Acquisition; the possibility
that the expected synergies and value creation from the WellCare
Acquisition will not be realized, or will not be realized within
the expected time period; the risk that unexpected costs will be
incurred in connection with the integration of the WellCare
Acquisition or that the integration of WellCare will be more
difficult or time consuming than expected; unexpected costs,
charges or expenses resulting from the WellCare Acquisition; the
inability to retain key personnel; disruption from the completion
of the WellCare Acquisition, including potential adverse reactions
or changes to business relationships with customers, employees,
suppliers or regulators, making it more difficult to maintain
business and operational relationships; the risk that, following
the WellCare Acquisition, we may not be able to effectively manage
our expanded operations; our ability to accurately predict and
effectively manage health benefits and other operating expenses and
reserves; competition; membership and revenue declines or
unexpected trends; changes in healthcare practices, new
technologies, and advances in medicine; increased healthcare costs;
changes in economic, political or market conditions; changes in
federal or state laws or regulations, including changes with
respect to income tax reform or government healthcare programs as
well as changes with respect to the Patient Protection and
Affordable Care Act and the Health Care and Education Affordability
Reconciliation Act, collectively referred to as the Affordable Care
Act (ACA) and any regulations enacted thereunder that may result
from changing political conditions or judicial actions, including
the ultimate outcome in "Texas v. United
States of America" regarding the constitutionality of the
ACA; rate cuts or other payment reductions or delays by
governmental payors and other risks and uncertainties affecting our
government businesses; our ability to adequately price products on
the Health Insurance Marketplaces and other commercial and Medicare
products; tax matters; disasters or major epidemics; the outcome of
legal and regulatory proceedings; changes in expected contract
start dates; provider, state, federal and other contract changes
and timing of regulatory approval of contracts; the expiration,
suspension, or termination of our contracts with federal or state
governments (including but not limited to Medicaid, Medicare,
TRICARE or other customers); the difficulty of predicting the
timing or outcome of pending or future litigation or government
investigations; challenges to our contract awards;
cyber-attacks or other privacy or data security incidents; the
possibility that the expected synergies and value creation from
acquired businesses, including, without limitation, the WellCare
Acquisition, will not be realized, or will not be realized within
the expected time period; the exertion of management's time and our
resources, and other expenses incurred and business changes
required in connection with complying with the undertakings in
connection with any regulatory, governmental or third party
consents or approvals for acquisitions; disruption caused by
significant completed and pending acquisitions, including, among
others, the WellCare Acquisition, making it more difficult to
maintain business and operational relationships; the risk that
unexpected costs will be incurred in connection with the completion
and/or integration of acquisition transactions; changes in expected
closing dates, estimated purchase price and accretion for
acquisitions; the risk that acquired businesses, including
WellCare, will not be integrated successfully; the risk that we may
not be able to effectively manage our operations as they have
expanded as a result of the WellCare Acquisition; restrictions and
limitations in connection with our indebtedness; our ability to
maintain or achieve improvement in the Centers for Medicare and
Medicaid Services (CMS) Star ratings and maintain or achieve
improvement in other quality scores in each case that can impact
revenue and future growth; availability of debt and equity
financing, on terms that are favorable to us; inflation; foreign
currency fluctuations; and risks and uncertainties discussed in the
reports that Centene has filed with the Securities and Exchange
Commission. This list of important factors is not intended to be
exhaustive. We discuss certain of these matters more fully, as well
as certain other factors that may affect our business operations,
financial condition and results of operations, in our filings with
the Securities and Exchange Commission (SEC), including our annual
report on Form 10-K, quarterly reports on Form 10-Q and current
reports on Form 8-K. Due to these important factors and risks, we
cannot give assurances with respect to our future performance,
including without limitation our ability to maintain adequate
premium levels or our ability to control our future medical and
selling, general and administrative costs.
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SOURCE Centene Corporation