The acquisition of Cigna’s Texas Medicaid contracts by Molina Healthcare, Inc. was completed recently. According to the reports, Cigna’s Texas Medicaid business has served about 50,000 members as of November 30, 2021.
- Managed care: Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. Through its locally operated health plans, Molina Healthcare served approximately 4.8 million members as of September 30, 2021.
- Revenues: As announced in April last year, Molina Healthcare expects to gain around $1 billion of new annual revenues with this prudent move. MOH will be able to meet the requirements of additional Medicaid and MMP members in Texas. With the COVID-19 pandemic taking a toll on our lives, more people are enrolling in Medicaid.
- Purchases: Acquisitions have been a major component of MOH’s growth strategy. MOH is keen on venturing on its core capabilities like Medicaid and Medicare and leaves no stone unturned to expand its portfolio.
- Contributions: Molina Healthcare’s Medicaid business has been contributing to its overall growth for a while. MOH ended 2020 with 3.6 million Medicaid members. Continuous program expansions across several states can be cited as one of the primary drivers for the Medicaid market.
- Shares: Shares of MOH have gained 46.5% in a year’s time, outperforming its industry’s growth of 38.8%.Other healthcare providers boasting a strong Medicaid business across the United States include Humana Inc. HUM, Centene Corporation CNC, and Anthem, Inc ANTM.