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Humana (HUM) Wins Contract to Serve Oklahoma's Medicaid Members
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Humana Inc. (HUM - Free Report) recently got selected by the Oklahoma Health Care Authority ("OHCA") to serve Medicaid members via SoonerSelect, the Medicaid managed care program in Oklahoma. The Medicaid branch of HUM, Humana Healthy Horizons, will commence fulfilling the responsibility entrusted by the OHCA from an estimated time frame of early to mid-2024.
Shares of Humana have gained 0.7% on Jun 9.
The Medicaid contract win is expected to provide an opportunity for Humana to work collaboratively with the healthcare provider community of Oklahoma. This, in turn, might enable HUM to gain an in-depth understanding of the whole-person health needs of the state’s residents and deliver high-quality healthcare services throughout Oklahoma.
The resultant benefit in the form of better health outcomes will be reaped by children and adults under the Temporary Assistance for Needy Families, the Children’s Health Insurance Program and Medicaid Expansion populace. SoonerSelect places an intensified focus to serve the abovementioned populations as they remain medically vulnerable and are in dire need of low-cost healthcare services.
The latest contract win is likely to bring higher membership growth, thereby providing a boost to the Medicaid business of Humana. With an already strong base of Medicaid members in Oklahoma, the selection by the OHCA can only further expand the footprint of Humana across the state.
Humana follows an integrated approach of combining physical health, behavioral health, pharmacy, long-term care and social services for effective care delivery and health plan administration. Such a powerful strategy has fetched HUM several contract wins or renewed deals from federal or state authorities from time to time.
Apart from a solid Medicaid foothold, Humana continues to occupy a significant share of the health insurance market in Oklahoma through other business lines. It offers coordinated medical, wellness and pharmacy benefits coverage to its Medicare Advantage and Prescription Drug Plan members across the state. Further, HUM also participates in the federal TRICARE program through which it serves the state's military members, military retirees and their dependents.
A strong Medicaid business brings higher premiums as well as provides an opportunity for the health insurer to delve into new areas. In the first quarter of 2023, Humana’s premiums from Medicaid and other business improved 22.8% year over year.
Apart from HUM, other health insurers that have been chosen by the OHCA to serve its Medicaid members include Centene Corporation’s (CNC - Free Report) unit, Oklahoma Complete Health and, Aetna Better Health of Oklahoma.
Shares of Humana have gained 20.4% in a year compared with the industry’s 7.3% growth. HUM currently carries a Zacks Rank #3 (Hold).
ANI Pharmaceuticals’ earnings surpassed estimates in each of the last four quarters, the average surprise being 68.64%. The Zacks Consensus Estimate for ANIP’s 2023 earnings is pegged at $3.31 per share, which has more than doubled itself from the prior-year figure. The same for revenues suggests an improvement of 27.1% from the year-ago tally. The consensus mark for ANIP’s 2023 earnings has moved 36.8% north in the past 60 days.
The bottom line of Alcon outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 8.85%. The Zacks Consensus Estimate for ALC’s 2023 earnings indicates a 17.9% improvement, while the same for revenues suggests an improvement of 8% from the respective prior-year tallies. The consensus mark for ALC’s 2023 earnings has moved up 1.5% in the past 30 days.
Shares of ANI Pharmaceuticals and Alcon have gained 107.2% and 16%, respectively, in a year.
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Humana (HUM) Wins Contract to Serve Oklahoma's Medicaid Members
Humana Inc. (HUM - Free Report) recently got selected by the Oklahoma Health Care Authority ("OHCA") to serve Medicaid members via SoonerSelect, the Medicaid managed care program in Oklahoma. The Medicaid branch of HUM, Humana Healthy Horizons, will commence fulfilling the responsibility entrusted by the OHCA from an estimated time frame of early to mid-2024.
Shares of Humana have gained 0.7% on Jun 9.
The Medicaid contract win is expected to provide an opportunity for Humana to work collaboratively with the healthcare provider community of Oklahoma. This, in turn, might enable HUM to gain an in-depth understanding of the whole-person health needs of the state’s residents and deliver high-quality healthcare services throughout Oklahoma.
The resultant benefit in the form of better health outcomes will be reaped by children and adults under the Temporary Assistance for Needy Families, the Children’s Health Insurance Program and Medicaid Expansion populace. SoonerSelect places an intensified focus to serve the abovementioned populations as they remain medically vulnerable and are in dire need of low-cost healthcare services.
The latest contract win is likely to bring higher membership growth, thereby providing a boost to the Medicaid business of Humana. With an already strong base of Medicaid members in Oklahoma, the selection by the OHCA can only further expand the footprint of Humana across the state.
Humana follows an integrated approach of combining physical health, behavioral health, pharmacy, long-term care and social services for effective care delivery and health plan administration. Such a powerful strategy has fetched HUM several contract wins or renewed deals from federal or state authorities from time to time.
Apart from a solid Medicaid foothold, Humana continues to occupy a significant share of the health insurance market in Oklahoma through other business lines. It offers coordinated medical, wellness and pharmacy benefits coverage to its Medicare Advantage and Prescription Drug Plan members across the state. Further, HUM also participates in the federal TRICARE program through which it serves the state's military members, military retirees and their dependents.
A strong Medicaid business brings higher premiums as well as provides an opportunity for the health insurer to delve into new areas. In the first quarter of 2023, Humana’s premiums from Medicaid and other business improved 22.8% year over year.
Apart from HUM, other health insurers that have been chosen by the OHCA to serve its Medicaid members include Centene Corporation’s (CNC - Free Report) unit, Oklahoma Complete Health and, Aetna Better Health of Oklahoma.
Shares of Humana have gained 20.4% in a year compared with the industry’s 7.3% growth. HUM currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are ANI Pharmaceuticals, Inc. (ANIP - Free Report) and Alcon Inc. (ALC - Free Report) . While ANI Pharmaceuticals sports a Zacks Rank #1 (Strong Buy), Alcon carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ANI Pharmaceuticals’ earnings surpassed estimates in each of the last four quarters, the average surprise being 68.64%. The Zacks Consensus Estimate for ANIP’s 2023 earnings is pegged at $3.31 per share, which has more than doubled itself from the prior-year figure. The same for revenues suggests an improvement of 27.1% from the year-ago tally. The consensus mark for ANIP’s 2023 earnings has moved 36.8% north in the past 60 days.
The bottom line of Alcon outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 8.85%. The Zacks Consensus Estimate for ALC’s 2023 earnings indicates a 17.9% improvement, while the same for revenues suggests an improvement of 8% from the respective prior-year tallies. The consensus mark for ALC’s 2023 earnings has moved up 1.5% in the past 30 days.
Shares of ANI Pharmaceuticals and Alcon have gained 107.2% and 16%, respectively, in a year.