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UnitedHealth Group (UNH) Wins Medicaid Deal to Help Serve Texas
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UnitedHealth Group Incorporated’s (UNH - Free Report) business, UnitedHealthcare, was selected by the Texas Health and Human Services Commission as one of the seven managed care organizations for implementing its Medicaid managed care program, STAR+PLUS.
The program integrates acute care with long-term services and assistance, and focuses to address the diversified needs of 700,000-plus people in Texas. Adults with disabilities or aged 65 years or above qualify for this program. STAR+PLUS entails members to avail a suite of daily living activities, home modifications, respite care and personal support services within the comfort of their home.
The new contract imparts UnitedHealthcare the power to offer high quality care across eight service areas in Texas, which are Bexar, Central Texas, Dallas, Harris, Hidalgo, Northeast Texas, Tarrant and Travis. Working closely with the providers and community-based organizations of Texas will enable the UNH unit to gain an in-depth understanding of the needs of the state’s residents and serve them better. This, in turn, is likely to result in better health outcomes for the state’s medically vulnerable aged and disabled community.
A longstanding experience of more than two decades in serving Texas’ Medicaid members may have fetched the contract win for UnitedHealthcare this time. Such contract wins boost the customer base and fetch health insurers with higher premiums, which remain the most significant contributors to their top line. The medical membership of UnitedHealthcare grew 3.1% year over year as of Jun 30, 2023. Further, its Medicaid membership witnessed year-over-year increase of 4.6% in the same time frame.
The strength of its Medicaid business has fetched the UnitedHealth Group unit numerous contract wins from time to time. This August, it won a Medicaid managed care contract from New Mexico Human Services Department to more effectively serve New Mexican residents from Jul 1, 2024.
These contract wins are also a means to fortify the presence of UnitedHealth Group across several U.S. states. Needless to say, the recent move is likely to strengthen UNH’s footprint across Texas. It boasts an extensive network of 671 hospitals and, more than 126,000 physicians and other care providers located throughout the state and subsequently, takes care of 4.7 million plus residents enrolled in employer-sponsored, individual, Medicare and Medicaid benefit plans.
Shares of UnitedHealth Group have gained 3.1% in the past six months compared with the industry’s 4.3% growth. UNH currently carries a Zacks Rank #3 (Hold).
Intuitive Surgical’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters and missed the mark once, the average beat being 4.19%. The Zacks Consensus Estimate for ISRG’s 2023 earnings indicates a rise of 19%, while the consensus mark for revenues suggests an improvement of 14.7% from the corresponding year-ago reported figures.
The consensus estimate for ISRG’s 2023 earnings has moved 1.8% north in the past 60 days. Shares of Intuitive Surgical have gained 29% in the past six months.
ANI Pharmaceuticals’ earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 91.56%. The Zacks Consensus Estimate for ANIP’s 2023 earnings is pegged at $4.02 per share, which indicates an increase of nearly three-fold from the year-ago reported figure.
The consensus estimate for ANIP’s 2023 earnings has moved 7.8% north in the past seven days. Shares of ANI Pharmaceuticals have soared 61.5% in the past six months.
Medpace’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 22.28%. The Zacks Consensus Estimate for MEDP’s 2023 earnings indicates a rise of 15.3%, while the consensus mark for revenues suggests an improvement of 27.8% from the corresponding year-ago reported figures.
The consensus estimate for MEDP’s 2023 earnings has moved 2.1% north in the past 30 days. Shares of Medpace have gained 58% in the past six months.
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UnitedHealth Group (UNH) Wins Medicaid Deal to Help Serve Texas
UnitedHealth Group Incorporated’s (UNH - Free Report) business, UnitedHealthcare, was selected by the Texas Health and Human Services Commission as one of the seven managed care organizations for implementing its Medicaid managed care program, STAR+PLUS.
The program integrates acute care with long-term services and assistance, and focuses to address the diversified needs of 700,000-plus people in Texas. Adults with disabilities or aged 65 years or above qualify for this program. STAR+PLUS entails members to avail a suite of daily living activities, home modifications, respite care and personal support services within the comfort of their home.
The new contract imparts UnitedHealthcare the power to offer high quality care across eight service areas in Texas, which are Bexar, Central Texas, Dallas, Harris, Hidalgo, Northeast Texas, Tarrant and Travis. Working closely with the providers and community-based organizations of Texas will enable the UNH unit to gain an in-depth understanding of the needs of the state’s residents and serve them better. This, in turn, is likely to result in better health outcomes for the state’s medically vulnerable aged and disabled community.
A longstanding experience of more than two decades in serving Texas’ Medicaid members may have fetched the contract win for UnitedHealthcare this time. Such contract wins boost the customer base and fetch health insurers with higher premiums, which remain the most significant contributors to their top line. The medical membership of UnitedHealthcare grew 3.1% year over year as of Jun 30, 2023. Further, its Medicaid membership witnessed year-over-year increase of 4.6% in the same time frame.
The strength of its Medicaid business has fetched the UnitedHealth Group unit numerous contract wins from time to time. This August, it won a Medicaid managed care contract from New Mexico Human Services Department to more effectively serve New Mexican residents from Jul 1, 2024.
These contract wins are also a means to fortify the presence of UnitedHealth Group across several U.S. states. Needless to say, the recent move is likely to strengthen UNH’s footprint across Texas. It boasts an extensive network of 671 hospitals and, more than 126,000 physicians and other care providers located throughout the state and subsequently, takes care of 4.7 million plus residents enrolled in employer-sponsored, individual, Medicare and Medicaid benefit plans.
Shares of UnitedHealth Group have gained 3.1% in the past six months compared with the industry’s 4.3% growth. UNH currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are Intuitive Surgical, Inc. (ISRG - Free Report) , ANI Pharmaceuticals, Inc. (ANIP - Free Report) and Medpace Holdings, Inc. (MEDP - Free Report) . Intuitive Surgical currently sports a Zacks Rank #1 (Strong Buy), and ANI Pharmaceuticals and Medpace carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters and missed the mark once, the average beat being 4.19%. The Zacks Consensus Estimate for ISRG’s 2023 earnings indicates a rise of 19%, while the consensus mark for revenues suggests an improvement of 14.7% from the corresponding year-ago reported figures.
The consensus estimate for ISRG’s 2023 earnings has moved 1.8% north in the past 60 days. Shares of Intuitive Surgical have gained 29% in the past six months.
ANI Pharmaceuticals’ earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 91.56%. The Zacks Consensus Estimate for ANIP’s 2023 earnings is pegged at $4.02 per share, which indicates an increase of nearly three-fold from the year-ago reported figure.
The consensus estimate for ANIP’s 2023 earnings has moved 7.8% north in the past seven days. Shares of ANI Pharmaceuticals have soared 61.5% in the past six months.
Medpace’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 22.28%. The Zacks Consensus Estimate for MEDP’s 2023 earnings indicates a rise of 15.3%, while the consensus mark for revenues suggests an improvement of 27.8% from the corresponding year-ago reported figures.
The consensus estimate for MEDP’s 2023 earnings has moved 2.1% north in the past 30 days. Shares of Medpace have gained 58% in the past six months.