Here are the specific viewpoints from earnings call
Bullish Points:
1. Reported first quarter adjusted EPS of $2.26, ahead of previous expectations.
2. Increasing full-year 2024 adjusted EPS guidance to greater than $6.80.
3. Completed an initiative to simplify prior authorization process, improving timeliness and reducing friction.
4. Perfect scores in readiness review from the state of Oklahoma, now serving Oklahomans statewide.
5. Operational agility allowed quick mobilization in support of members and providers during Change Healthcare cybersecurity incident.
6. Medicaid franchise demonstrates resilience, with membership tracking slightly higher than expectations.
7. Solid results from rate discussions with state partners, with opportunities still ahead.
8. Successful reprocurements, including a large contract in Florida and continued service in Michigan.
9. Medicare Advantage star ratings showing improved progress and stability.
10. Marketplace membership has more than doubled in size in two years, with consistent margin expansion.
Bearish Points:
1. Medicare Advantage macro landscape remains challenging with insufficient funding levels for 2025.
2. Medicaid Health Benefit Ratio (HBR) was a little higher than expected due to rate and acuity matching process.
3. Ongoing protest in Texas regarding the reprocurement of a contract.
4. Medicare inpatient authorizations were higher than expected in January and February.
5. Medicare outpatient trend continues at the elevated level.
6. Risk model being phased in beginning in 2024 that is punitive to partial and full duals.
7. Insufficient 2025 rate environment based upon the final rate notice.
8. Cash flow used in operations was $456 million for Q1.
9. Delay in March's premium payment from one of our large state partners.
10. Slower receipt of pharmacy rebates as we transition to a new third-party PBM.
For more information about Centene(CNC)'s earnings call, you can read the relevant news: Centene (CNC) Q1 2024 Earnings Call Transcript.
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