WellCare Health Plans, Inc. (WCG - Free Report) has announced that it is expanding its providers’ network through a value-based care agreement with leading national organization, agilon health. With this deal, WellCare Health will offer an excellent operating platform to patients by giving them access to primary care physicians.
The transaction is aimed at providing improved treatment to patients in Texas. It is also going to work on population health management as well as decrease overall healthcare costs. Value-based programs generally reward healthcare providers with incentives, which are based on the type and quality of care provided to members. Notably, with this collaboration, members would be able to get enriched experience and coordinated healthcare.
The company has been constantly working on improving treatments through value-based care, partnerships and acquisitions. It recently tied up with VillageMD, a leading national primary care provider, for including its network of provider practices in Georgia and Illinois. Via this deal. The company aims to come up with better health outcome through quality-based improvements.
WellCare Health is actively seeking acquisitions for expedited growth. Acquisitions of Care1st Arizona and Advicare significantly contributed to WellCare Health's Medicaid business and helped in diversifying its Medicaid portfolio. The company’s buyouts of Universal American Corp and Arizona Medicaid assets of Phoenix Health Plans also deserves special mention. Recently, it acquired Meridian Health Plans of Michigan and Illinois and MeridianRx with the intention of becoming the top-most Medicaid provider.
Shares of this Zacks Rank #1 (Strong Buy) company rallied 85.3% in a year’s time, outperforming 38.6% increase recorded by its industry.
Other Stocks to Consider
Investors interested in the Medical-HMO industry may take a look into other top-ranked stocks like Anthem, Inc. (ANTM - Free Report) , Humana Inc. (HUM - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) .
You can see the complete list of today’s Zacks #1 Rank stocks here.
Anthem provides network-based managed care health benefit plans to individuals, small and large groups; Medicaid; and Medicare markets. With a Zacks Rank #2 (Buy), the company managed to deliver an average beat of 6.65% in the last four quarters.
Humana operates as health and well-being company in the United States. It presently carries a Zacks Rank of 2 and pulled off an average surprise of 3.96% in the last four quarters.
UnitedHealth operates as a diversified healthcare company in the United States. It currently has a Zacks Rank #2 and came up with a positive surprise of 3.71% in the last four quarters.
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