WellCare Health Plans, Inc. (WCG - Free Report) has inked a deal with UNC Health Alliance and its physician-led network of more than 2,400 UNC Health Care providers and 350 Durham and Orange County-based independent providers. Per the deal, UNC will join WellCare’s health plan network, effective beginning 2018.
The agreement, would provide WellCare's Medicare Advantage (MA) members access to the UNC Health Alliance network of primary care providers and specialists. As a result, WellCare’s MA members will be aided by UNC's convenient and secure online portal. They can also have access to “My UNC Chart” that would provide medical records, test results and help them manage their own health care.
Share Price Performance
WellCare has always been forming alliances in order to strengthen its Medicare and Medicaid platforms. This new agreement is also expected to help the company in boosting its Medicare base. In last year, its shares have rallied 49%, outperforming the industry’s gain of 46%.
UNC Health Care is known to be one of the 27 leading health systems in the United States. Vast use of information technology to improve patient care and clinical integration has helped it maintain a strong position in the market. Hence, the alliance is expected to be accretive to WellCare’s capabilities and expertise in providing premium quality health care.
WellCare to Benefit
As of Jun 30, 2017, WellCare served approximately 33,000 Medicare Prescription Drug Plan members in North Carolina. The alliance with UNC aims at supporting WellCare’s efforts to be connected with strong providers and hospital systems. Both the companies look forward to delivering the best possible health care to the people in North Carolina.
Zacks Rank & Stocks to Consider
WellCare presently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Investors interested in this space can consider stocks like Aetna, Inc (AET - Free Report) , Anthem, Inc. (ANTM - Free Report) and Centene Corp (CNC - Free Report) . All the three stocks carry a Zacks Rank #2 (Buy).
Anthem’s earnings surpassed expectations in three of the last four quarters with an average beat of nearly 8.6%.
Aetna’s earnings surpassed expectations in each of the last four quarters with an average beat of nearly 19%.
Centene delivered positive surprises in three of the last four quarters with an average beat of 7.7%.
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