Happy Monday. Shares in Centene are down 29% in pre-market trading after the company announced poor financial performance in Kentucky; Hidalgo County, TX; and its Celtic individual business. This comes as no surprise following Molina’s announcement of problems in Hidalgo. Centene also slashed its 2012 earnings outlook by 43% to between $1.45 and $1.65 per share.
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It doesn’t entirely surprise me that companies are having these problems. The Medicaid population is a very difficult population for which to manage and coordinate care effectively. Most plans are not well equipped to do this well. It is a tough learning curve. But there are some successes out there.
Carol, where are the successes?