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Elevance (ELV) Arm to Bring Virtual-First Plans to Georgia
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Elevance Health, Inc.’s (ELV - Free Report) part of the Anthem family of brands, Anthem Blue Cross and Blue Shield in Georgia are moving ahead with the Virtual-First health plans for eligible participants in certain commercial plans.
This addition is expected to provide members with access to virtual care options at an affordable rate. The Virtual-First health plans are expected to offer artificial intelligence driven symptom checker, routine wellness care and management of chronic conditions. Also, it will provide access to behavioral healthcare.
The cocktail of virtual and in-person options is expected to enrich members’ health experience while highlighting ELV’s growing digital capabilities. The addition of Virtual-First, which can be accessed through the Sydney Health app, is expected to offer seamless data movability among different stakeholders in the care-providing space.
This move is expected to improve efficiency, reduce unnecessary costs and boost the health experience. The plans are expected to be available for individuals enrolled in Anthem’s large group administrative services (ASO) plans from July of this year.
Further, from the first day of next year, the services will likely be available to national account ASO members. This move is expected to accelerate membership growth for the company. Higher memberships and product expansions enable ELV's top-line growth. At the 2022-end, its medical enrolment totaled 47.5 million members. For 2023, medical enrollment is projected to be within the 47.4-48.5 million range.
Price Performance
Elevance Health’s shares have gained 1.6% in the past six months against the 0.3% decline of the industry.
The Zacks Consensus Estimate for Avanos Medical’s 2023 earnings predicts 1.8% year-over-year growth. AVNS beat earnings estimates in all the past four quarters, with the average being 11%.
The consensus mark for Viemed’s 2023 earnings indicates an 87.5% year-over-year increase. Furthermore, the consensus estimate for VMD’s revenues in 2023 suggests 15% year-over-year growth.
The Zacks Consensus Estimate for Sera Prognostics’ 2023 earnings witnessed two upward estimate revisions in the past 30 days against none in the opposite direction. SERA beat earnings estimates in three of the past four quarters and missed once, with the average surprise being 7.1%.
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Elevance (ELV) Arm to Bring Virtual-First Plans to Georgia
Elevance Health, Inc.’s (ELV - Free Report) part of the Anthem family of brands, Anthem Blue Cross and Blue Shield in Georgia are moving ahead with the Virtual-First health plans for eligible participants in certain commercial plans.
This addition is expected to provide members with access to virtual care options at an affordable rate. The Virtual-First health plans are expected to offer artificial intelligence driven symptom checker, routine wellness care and management of chronic conditions. Also, it will provide access to behavioral healthcare.
The cocktail of virtual and in-person options is expected to enrich members’ health experience while highlighting ELV’s growing digital capabilities. The addition of Virtual-First, which can be accessed through the Sydney Health app, is expected to offer seamless data movability among different stakeholders in the care-providing space.
This move is expected to improve efficiency, reduce unnecessary costs and boost the health experience. The plans are expected to be available for individuals enrolled in Anthem’s large group administrative services (ASO) plans from July of this year.
Further, from the first day of next year, the services will likely be available to national account ASO members. This move is expected to accelerate membership growth for the company. Higher memberships and product expansions enable ELV's top-line growth. At the 2022-end, its medical enrolment totaled 47.5 million members. For 2023, medical enrollment is projected to be within the 47.4-48.5 million range.
Price Performance
Elevance Health’s shares have gained 1.6% in the past six months against the 0.3% decline of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Elevance Health currently has a Zacks Rank #2 (Buy). Meanwhile, investors interested in the broader medical space may also look at players like Avanos Medical, Inc. (AVNS - Free Report) , Viemed Healthcare, Inc. (VMD - Free Report) and Sera Prognostics, Inc. (SERA - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Avanos Medical’s 2023 earnings predicts 1.8% year-over-year growth. AVNS beat earnings estimates in all the past four quarters, with the average being 11%.
The consensus mark for Viemed’s 2023 earnings indicates an 87.5% year-over-year increase. Furthermore, the consensus estimate for VMD’s revenues in 2023 suggests 15% year-over-year growth.
The Zacks Consensus Estimate for Sera Prognostics’ 2023 earnings witnessed two upward estimate revisions in the past 30 days against none in the opposite direction. SERA beat earnings estimates in three of the past four quarters and missed once, with the average surprise being 7.1%.