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WellCare and Catholic Health Team Up to Improve Health Care
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WellCare of New York, Inc., a wholly owned subsidiary of WellCare Health Plans, Inc. , recently inked a deal with Catholic Health and Catholic Medical Partners to enhance its health care services. Catholic Medical Partners currently provides in-network coverage to members of WellCare's Medicare Advantage, Medicaid and Child Health Plus plans.
Per the agreement, WellCare of New York will gain access to all the health care services of Catholic Medical Partners providers across all Catholic Health facilities, including hospitals, labs, diagnostic imaging centers, primary care clinics, and home- and community-based care services.
WellCare’s has witnessed substantial growth over the last three years through inorganic means. Numerous acquisitions, mergers and strategic alliances have also solidified shareholders’ confidence on the stock. In the last one year, the stock has gained 57%, outperforming the Zacks categorized Health Maintenance Organization (HMO) industry’s increase of 22%.
Pursuant to the agreement, WellCare of New York will now serve approximately 0.24 million members in New York, that includes 0.13 million Medicaid members, 0.043 million Medicare Advantage plan members and 0.06 million Medicare Prescription Drug Plan members as of Dec 31, 2016,
Both WellCare and Catholic Health focus on providing quality health care and the agreement further bolsters the companies’ commitment toward improving the health and well-being of their members. This alliance will also enable the companies to serve through nearly 1,000 primary and specialty care physicians in western New York, who are not only known for delivering better outcomes but also have the capability to serve at a lower cost.
This alliance will also allow the members of WellCare New York to access the most advanced and highest quality care in the region through Catholic Health’s four hospitals across five campuses and a wide range of ancillary care facilities in the region.
Zacks Rank and Stocks to Consider
WellCare carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the medical sector include UnitedHealth Group, Inc. (UNH - Free Report) , Inogen Inc. (INGN - Free Report) and Infinity Pharmaceuticals, Inc. . While Inogen and Infinity sport a Zacks Rank #1 (Strong Buy), UnitedHealth holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen posted positive surprises in three of the last four quarters with an average positive surprise of 49.08%.
Infinity delivered positive surprises in the trailing four quarters with an average beat of 28.38%.
UnitedHealth delivered positive surprises in last four quarters with an average beat of 3.80%.
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WellCare and Catholic Health Team Up to Improve Health Care
WellCare of New York, Inc., a wholly owned subsidiary of WellCare Health Plans, Inc. , recently inked a deal with Catholic Health and Catholic Medical Partners to enhance its health care services. Catholic Medical Partners currently provides in-network coverage to members of WellCare's Medicare Advantage, Medicaid and Child Health Plus plans.
Per the agreement, WellCare of New York will gain access to all the health care services of Catholic Medical Partners providers across all Catholic Health facilities, including hospitals, labs, diagnostic imaging centers, primary care clinics, and home- and community-based care services.
WellCare’s has witnessed substantial growth over the last three years through inorganic means. Numerous acquisitions, mergers and strategic alliances have also solidified shareholders’ confidence on the stock. In the last one year, the stock has gained 57%, outperforming the Zacks categorized Health Maintenance Organization (HMO) industry’s increase of 22%.
Pursuant to the agreement, WellCare of New York will now serve approximately 0.24 million members in New York, that includes 0.13 million Medicaid members, 0.043 million Medicare Advantage plan members and 0.06 million Medicare Prescription Drug Plan members as of Dec 31, 2016,
Both WellCare and Catholic Health focus on providing quality health care and the agreement further bolsters the companies’ commitment toward improving the health and well-being of their members. This alliance will also enable the companies to serve through nearly 1,000 primary and specialty care physicians in western New York, who are not only known for delivering better outcomes but also have the capability to serve at a lower cost.
This alliance will also allow the members of WellCare New York to access the most advanced and highest quality care in the region through Catholic Health’s four hospitals across five campuses and a wide range of ancillary care facilities in the region.
Zacks Rank and Stocks to Consider
WellCare carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the medical sector include UnitedHealth Group, Inc. (UNH - Free Report) , Inogen Inc. (INGN - Free Report) and Infinity Pharmaceuticals, Inc. . While Inogen and Infinity sport a Zacks Rank #1 (Strong Buy), UnitedHealth holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen posted positive surprises in three of the last four quarters with an average positive surprise of 49.08%.
Infinity delivered positive surprises in the trailing four quarters with an average beat of 28.38%.
UnitedHealth delivered positive surprises in last four quarters with an average beat of 3.80%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>