St. Louis-based healthcare payer Centene Corporation reported a $1.1bn profit in Q1 2023. The firm has also made several recent changes to its business, including exiting office space and appointing new executives. Anika Gardenhire has become the new chief customer experience officer, Fred Eppinger has become chair of the board, and Tanya McNally has taken the role of senior vice president and chief people officer. The company’s strong financial performance and strategic partnerships demonstrate its commitment to providing high-quality healthcare while driving growth and innovation in the industry.
Centene Corporation, a St. Louis-based healthcare payer, has reported a $1.1 billion profit in the first quarter of 2023. The company has been in the news recently due to several updates, which are summarized below.
Office Space Exit
Earlier this year, Centene exited 103,585 square feet of office space in Creve Coeur, Mo., as part of the company’s ongoing cost-cutting measures. The payer has reportedly exited at least 600,000 square feet of office space over the past year.
Double-Digit Profit Growth
Centene’s first-quarter earnings report showed double-digit growth in profits for the first three months of 2023. The company also added over 2 million members year over year, demonstrating strong growth in its business.
Chief Customer Experience Officer Appointment
Anika Gardenhire, BSN, RN, has been named Centene’s chief customer experience officer. Gardenhire brings more than 20 years of healthcare industry experience to the role and will be responsible for improving the company’s customer experience across all business lines.
New Board Chair
Fred Eppinger, the CEO of Stewart Information Services, has been named chair of Centene’s board of directors. Eppinger brings extensive experience in the insurance and financial services industries to the role and is expected to provide valuable leadership and strategic guidance to the company.
Expanded Partnership for Oncology Specialty Care
Centene and healthcare administration company Evolent Health have expanded their partnership for oncology specialty care. The payer will use Evolent’s oncology offerings for its Centene and WellCare Medicare Advantage programs, which will help provide members with high-quality, cost-effective cancer care.
CEO Compensation
Centene CEO Sarah London was paid $13.2 million in total compensation in 2022, according to regulatory filings. The company’s top executives also received significant compensation packages in 2022, with some earning over $10 million.
New Chief People Officer
Tanya McNally has been named Centene’s senior vice president and chief people officer. McNally previously served as Centene’s regional vice president for human resources and brings extensive experience in talent management and organizational development to the role.
