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Elevance Health (ELV) to Expand in 91 New Counties in 2024
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Elevance Health, Inc. (ELV - Free Report) recently announced that its affiliated 2024 Medicare Advantage Plans will offer flexible and simplified plans with customizable benefits to better fit the needs of Medicare-eligible customers. The company aims to serve nearly 93% of eligible individuals for Medicare with its 91-county expansion in 2024.
This move bodes well for ELV as an enhanced product suite and improved membership levels due to expansion, should position the company well for growth. We expect total revenues to rise 6.2% in 2023. The company will continue to focus on the overall health of people coupled with providing improved affordability. ELV will provide nine out of 10 plans at $0 premium and $0 copay for Primary Care Provider.
Elevance Health will also provide additional dental care benefits and an improved dental network of providers. It will also provide an allowance for purchasing over-the-counter hearing aids with multiple plans. Elevance Health brings continued improvements in its offerings to healthcare providers and members. It is reducing administrative burdens for providers by providing real-time approvals for common healthcare services, thereby reducing inefficiencies.
Elevance Health will provide Essential Extras, giving consumers a choice between dental, vision, assistive devices, hearing, etc. Consumers can pay for these benefits using a pre-paid card in-store, online or by phone. Moreover, the company will devise a personalized customer service model for consumers, further improving its offerings. All these measures poise the company well for growth in the future.
Price Performance
Elevance Health’s shares lost 7.4% in the past six months compared with the 9.1% decline of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Elevance Health currently has a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Atai Life Sciences’ current-year earnings implies a 16.3% improvement from the year-ago reported figure. It has witnessed four upward estimate revisions over the past 60 days against no movement in the opposite direction. ATAI beat earnings estimates in two of the last four quarters, met once and missed on one occasion.
The Zacks Consensus Estimate for Tenet Healthcare’s 2023 bottom line is pegged at $5.73 per share, which rose 2.3% in the past 60 days. During this time, THC has witnessed four upward estimate revisions against none in the opposite direction. It beat earnings estimates in all the last four quarters, with the average surprise being 25.9%.
The Zacks Consensus Estimate for Select Medical’s 2023 earnings indicates a 56.9% year-over-year increase to $1.93 per share. It has witnessed one upward estimate revision over the past 60 days against no movement in the opposite direction. The consensus mark for SEM’s 2023 revenues indicates 4.2% growth from a year ago.
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Elevance Health (ELV) to Expand in 91 New Counties in 2024
Elevance Health, Inc. (ELV - Free Report) recently announced that its affiliated 2024 Medicare Advantage Plans will offer flexible and simplified plans with customizable benefits to better fit the needs of Medicare-eligible customers. The company aims to serve nearly 93% of eligible individuals for Medicare with its 91-county expansion in 2024.
This move bodes well for ELV as an enhanced product suite and improved membership levels due to expansion, should position the company well for growth. We expect total revenues to rise 6.2% in 2023. The company will continue to focus on the overall health of people coupled with providing improved affordability. ELV will provide nine out of 10 plans at $0 premium and $0 copay for Primary Care Provider.
Elevance Health will also provide additional dental care benefits and an improved dental network of providers. It will also provide an allowance for purchasing over-the-counter hearing aids with multiple plans. Elevance Health brings continued improvements in its offerings to healthcare providers and members. It is reducing administrative burdens for providers by providing real-time approvals for common healthcare services, thereby reducing inefficiencies.
Elevance Health will provide Essential Extras, giving consumers a choice between dental, vision, assistive devices, hearing, etc. Consumers can pay for these benefits using a pre-paid card in-store, online or by phone. Moreover, the company will devise a personalized customer service model for consumers, further improving its offerings. All these measures poise the company well for growth in the future.
Price Performance
Elevance Health’s shares lost 7.4% in the past six months compared with the 9.1% decline of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Elevance Health currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Medical space are Atai Life Sciences N.V. (ATAI - Free Report) , Tenet Healthcare Corporation (THC - Free Report) and Select Medical Holdings Corporation (SEM - Free Report) . Each stock presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Atai Life Sciences’ current-year earnings implies a 16.3% improvement from the year-ago reported figure. It has witnessed four upward estimate revisions over the past 60 days against no movement in the opposite direction. ATAI beat earnings estimates in two of the last four quarters, met once and missed on one occasion.
The Zacks Consensus Estimate for Tenet Healthcare’s 2023 bottom line is pegged at $5.73 per share, which rose 2.3% in the past 60 days. During this time, THC has witnessed four upward estimate revisions against none in the opposite direction. It beat earnings estimates in all the last four quarters, with the average surprise being 25.9%.
The Zacks Consensus Estimate for Select Medical’s 2023 earnings indicates a 56.9% year-over-year increase to $1.93 per share. It has witnessed one upward estimate revision over the past 60 days against no movement in the opposite direction. The consensus mark for SEM’s 2023 revenues indicates 4.2% growth from a year ago.