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UnitedHealth (UNH) Unit Awarded a Medicaid Contract by AHCCCS
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UnitedHealth Group Incorporated’s (UNH - Free Report) business, UnitedHealthcare, recently received a contract from the Medicaid agency of Arizona, Arizona Health Care Cost Containment System (“AHCCCS”), for serving members of the Arizona Long Term Care System (“ALTCS”) EPD program. Its shares gained 0.3% on Dec 8.
The program is meant to cater to the elderly and/or physically disabled population of the state. The new contract given to the UnitedHealthcare Community Plan of Arizona is likely to be functional from the very beginning of October 2024, once contract negotiations have been done with. The initial tenure of the contract will be a period of three years but can be extended up to a maximum number of four times for one year each. Along with UnitedHealth Group, Centene Corporation (CNC - Free Report) was also awarded a contract by AHCCCS to serve statewide ALTCS members.
Under the latest move, UnitedHealthcare will work closely with AHCCCS to gain an in-depth understanding of the needs of the state’s residents. Therefore, the health insurer will be equipped to offer case management and long-term services and assistance. Providing whole-person and equitable care to ALTCS members across all of Arizona’s counties is inevitably expected to bring about improved health outcomes for the state’s medically vulnerable aged and disabled community.
Presently, UnitedHealthcare's Arizona unit caters to 8,600-plus long-term care EPD members across north and central Arizona. With a longstanding experience of catering to the long-term care population of Arizona for more than three decades, the recent contract win may further expand UNH’s service area and welcome more statewide members under its customer base. As of Sep 30, 2023, its Medicaid membership inched up 0.7% year over year.
Overall, UnitedHealthcare Community Plan of Arizona boasts a solid presence throughout the state and catering to more than 500,000 members through Medicaid, ALTCS EPD and Division of Developmental Disabilities programs is a testament to the same. The strength of its Medicaid business has fetched numerous contract wins to UnitedHealthcare from different state authorities from time to time. Contract wins boost membership growth by bringing improved premiums, which remain one of the most significant contributors to a health insurer’s revenues.
This September, UnitedHealthcare was selected by the Texas Health and Human Services Commission for serving members of its Medicaid managed care program, STAR+PLUS. One month before that, it won a Medicaid managed care contract from the New Mexico Human Services Department to effectively serve New Mexican residents from Jul 1, 2024.
Shares of UnitedHealth Group have gained 11.6% in the past six months compared with the industry’s 8.5% growth. UNH currently carries a Zacks Rank #3 (Hold).
IRadimed’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average beat being 11.67%. The Zacks Consensus Estimate for IRMD’s 2023 earnings and revenues indicates a rise of 36.4% and 22.5%, respectively, from the year-ago reported figures.
The consensus estimate for IRMD’s 2023 earnings has moved 7.9% north in the past 60 days. Shares of IRadimed have declined 12.2% in the past six months.
Bausch Health’s earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, the average surprise being 0.04%. The consensus estimate for BHC’s 2023 earnings indicates a rise of 11.1% from the prior-year reported figure. The consensus mark for revenues suggests an improvement of 5.9% from the prior-year figure.
The consensus estimate for BHC’s 2023 earnings has moved 0.9% north in the past 30 days. Shares of Bausch Health have inched up 0.2% in the past six months.
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UnitedHealth (UNH) Unit Awarded a Medicaid Contract by AHCCCS
UnitedHealth Group Incorporated’s (UNH - Free Report) business, UnitedHealthcare, recently received a contract from the Medicaid agency of Arizona, Arizona Health Care Cost Containment System (“AHCCCS”), for serving members of the Arizona Long Term Care System (“ALTCS”) EPD program. Its shares gained 0.3% on Dec 8.
The program is meant to cater to the elderly and/or physically disabled population of the state. The new contract given to the UnitedHealthcare Community Plan of Arizona is likely to be functional from the very beginning of October 2024, once contract negotiations have been done with. The initial tenure of the contract will be a period of three years but can be extended up to a maximum number of four times for one year each. Along with UnitedHealth Group, Centene Corporation (CNC - Free Report) was also awarded a contract by AHCCCS to serve statewide ALTCS members.
Under the latest move, UnitedHealthcare will work closely with AHCCCS to gain an in-depth understanding of the needs of the state’s residents. Therefore, the health insurer will be equipped to offer case management and long-term services and assistance. Providing whole-person and equitable care to ALTCS members across all of Arizona’s counties is inevitably expected to bring about improved health outcomes for the state’s medically vulnerable aged and disabled community.
Presently, UnitedHealthcare's Arizona unit caters to 8,600-plus long-term care EPD members across north and central Arizona. With a longstanding experience of catering to the long-term care population of Arizona for more than three decades, the recent contract win may further expand UNH’s service area and welcome more statewide members under its customer base. As of Sep 30, 2023, its Medicaid membership inched up 0.7% year over year.
Overall, UnitedHealthcare Community Plan of Arizona boasts a solid presence throughout the state and catering to more than 500,000 members through Medicaid, ALTCS EPD and Division of Developmental Disabilities programs is a testament to the same. The strength of its Medicaid business has fetched numerous contract wins to UnitedHealthcare from different state authorities from time to time. Contract wins boost membership growth by bringing improved premiums, which remain one of the most significant contributors to a health insurer’s revenues.
This September, UnitedHealthcare was selected by the Texas Health and Human Services Commission for serving members of its Medicaid managed care program, STAR+PLUS. One month before that, it won a Medicaid managed care contract from the New Mexico Human Services Department to effectively serve New Mexican residents from Jul 1, 2024.
Shares of UnitedHealth Group have gained 11.6% in the past six months compared with the industry’s 8.5% 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 IRadimed Corporation (IRMD - Free Report) and Bausch Health Companies Inc. (BHC - Free Report) . While IRadimed currently sports a Zacks Rank #1 (Strong Buy). Bausch Health carries a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
IRadimed’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average beat being 11.67%. The Zacks Consensus Estimate for IRMD’s 2023 earnings and revenues indicates a rise of 36.4% and 22.5%, respectively, from the year-ago reported figures.
The consensus estimate for IRMD’s 2023 earnings has moved 7.9% north in the past 60 days. Shares of IRadimed have declined 12.2% in the past six months.
Bausch Health’s earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark once, the average surprise being 0.04%. The consensus estimate for BHC’s 2023 earnings indicates a rise of 11.1% from the prior-year reported figure. The consensus mark for revenues suggests an improvement of 5.9% from the prior-year figure.
The consensus estimate for BHC’s 2023 earnings has moved 0.9% north in the past 30 days. Shares of Bausch Health have inched up 0.2% in the past six months.