ST. LOUIS, Oct. 25, 2017 /PRNewswire/ -- Mercy Health
of Arkansas and Centene
Corporation (NYSE: CNC) subsidiaries LifeShare and Arkansas Health
& Wellness announced today that their recently formed joint
venture, Arkansas Total Care, has received a license from the
Arkansas Insurance Department to become a risk-based provider
organization (RBPO). The license will allow Arkansas Total Care to
manage a Medicaid special needs population comprised of people with
high behavioral health needs and individuals with
developmental/intellectual disabilities.
The approved RBPOs will manage and take on full-risk of this
population beginning in January 2019.
As part of the transition, each RBPO will provide care coordination
services to the population beginning in early 2018. The Arkansas
Department of Human Services anticipates that 30,000 individuals
with high needs will be enrolled in the state's program.
"The state of Arkansas has
taken an innovative step to improve coordination of behavioral
health, developmental/intellectual disabilities, and physical
health services with this provider-led program. Mercy is
pleased to participate in this model of care for the benefit of the
Northwest Arkansas and the River
Valley communities," said Steve
Goss, M.D., President of Mercy Clinic Northwest Arkansas.
"The Arkansas Department of Insurance and the Department of Human
Services have been leaders and partners during this organizational
stage. Mercy looks forward to being part of a high-quality
program of services for thousands of our community members and
their families, owing to the DHS team's support and the excellence
of the Centene organization and its network."
"Receiving this license is a significant milestone in our path
to serve the state's most vulnerable populations," said
John Ryan, President and CEO for
Arkansas Health & Wellness. "We believe provider-led health
plans can ensure providers are leading healthcare decisions that
result in better health outcomes for members at a lower cost to the
state."
About Mercy
Mercy, named one of the top five large U.S. health systems in
2017 by Truven, an IBM Watson Health company, serves millions
annually. Mercy includes 44 acute care and specialty (heart,
children's, orthopedic and rehab) hospitals, more than 700
physician practices and outpatient facilities, 40,000 co-workers
and more than 2,000 Mercy Clinic physicians in Arkansas, Kansas, Missouri and Oklahoma. Mercy also has outreach ministries
in Arkansas, Louisiana, Mississippi and Texas.
About Centene Corporation
Centene Corporation, a Fortune 100 company, is a diversified,
multi-national healthcare enterprise that provides a portfolio of
services to government sponsored healthcare programs, focusing on
under-insured and uninsured individuals. Many receive benefits
provided under Medicaid, including the State Children's Health
Insurance Program (CHIP), as well as Aged, Blind or Disabled (ABD),
Foster Care and Long Term Care
(LTC), in addition to other state-sponsored programs, Medicare
(including the Medicare prescription drug benefit commonly known as
"Part D"), as well as programs with the U.S. Department of Defense
and U.S. Department of Veterans Affairs. Centene operates local
health plans and offers a range of health insurance solutions. It
also contracts with other healthcare and commercial organizations
to provide specialty services including behavioral health
management, care management software, correctional healthcare
services, dental benefits management, in-home health services, life
and health management, managed vision, pharmacy benefits
management, specialty pharmacy and telehealth services.
Centene uses its investor relations website to publish important
information about the Company, including information that may be
deemed material to investors. Financial and other information about
Centene is routinely posted and is accessible on Centene's investor
relations website, http://www.centene.com/investors.
Forward-Looking Statements
The company and its representatives may from time to time make
written and oral forward-looking statements within the meaning of
the Private Securities Litigation Reform Act ("PSLRA") of
1995, including statements in this and other press releases, in
presentations, filings with the Securities and Exchange
Commission("SEC"), reports to stockholders and in meetings
with investors and analysts. In particular, the information
provided in this press release may contain certain forward-looking
statements with respect to the financial condition, results of
operations and business of Centene and certain plans and
objectives of Centene with respect thereto, including but
not limited to the expected benefits of the acquisition
of Health Net, Inc. or Fidelis Care. These
forward-looking statements can be identified by the fact that they
do not relate only to historical or current facts. Without limiting
the foregoing, forward-looking statements often use words such
as "anticipate", "seek", "target", "expect",
"estimate", "intend", "plan", "goal", "believe", "hope", "aim",
"continue", "will", "may", "can", "would",
"could" or "should" or other words of similar
meaning or the negative thereof. We intend such forward-looking
statements to be covered by the safe-harbor provisions for
forward-looking statements contained in PSLRA. A number of factors,
variables or events could cause actual plans and results to differ
materially from those expressed or implied in forward-looking
statements. Such factors include, but are not limited
to, Centene's ability to accurately predict and
effectively manage health benefits and other operating expenses and
reserves; competition; membership and revenue declines or
unexpected trends; changes in healthcare practices, new
technologies and advances in medicine; increased healthcare costs;
changes in economic, political or market conditions; changes in
federal or state laws or regulations, including changes with
respect to government healthcare programs as well as changes with
respect to the Patient Protection and Affordable Care Act and the
Health Care and Education Affordability Reconciliation Act and any
regulations enacted thereunder that may result from changing
political conditions; rate cuts or other payment reductions or
delays by governmental payors and other risks and uncertainties
affecting Centene's government
businesses; Centene's ability to adequately price
products on federally facilitated and state based Health Insurance
Marketplaces; tax matters; disasters or major epidemics; the
outcome of legal and regulatory proceedings; changes in expected
contract start dates; provider, state, federal and other contract
changes and timing of regulatory approval of contracts; the
expiration, suspension or termination
of Centene's contracts with federal or state governments
(including but not limited to Medicaid, Medicare, and
TRICARE); the difficulty of predicting the timing or outcome of
pending or future litigation or government investigations;
challenges to Centene's contract awards; cyber-attacks or
other privacy or data security incidents; the possibility that the
expected synergies and value creation from acquired businesses,
including, without limitation, the Health Net acquisition and the
Fidelis Care acquisition, will not be realized, or will not be
realized within the expected time period, including, but not
limited to, as a result of conditions, terms, obligations or
restrictions imposed by regulators in connection with their
approval of, or consent to, the acquisition; the exertion of
management's time and Centene's resources, and other
expenses incurred and business changes required in connection with
complying with the undertakings in connection with certain
regulatory approvals for the Health Net acquisition and the Fidelis
Care acquisition; disruption from acquisitions, including the
Health Net acquisition and the Fidelis Care acquisition, making it
more difficult to maintain business and operational relationships;
the risk that unexpected costs will be incurred in connection with,
among other things, the Health Net acquisition, the Fidelis Care
acquisition and/or the successful integration of acquisitions;
changes in expected closing dates, estimated purchase price and
accretion for acquisitions; the risk that acquired businesses will
not be integrated successfully, including the Health Net
acquisition and the Fidelis Care acquisition; the risk that the
conditions of the Fidelis Care acquisition may not be satisfied or
completed on a timely basis, or at all; inability to pursue
alternatives to the Fidelis Care acquisition, or the risk that
potential competing acquirers of Centene may be
discouraged from making favorable alternative transaction proposals
due to certain provisions in the Fidelis Care asset purchase
agreement; failure to obtain expiration or termination of
applicable waiting periods or to receive any required regulatory
approvals, consents or clearances for the Fidelis Care acquisition,
and the risk that, even if so obtained or received, regulatory
authorities impose conditions on the completion of the transaction
that could require the exertion of management's time
and Centene's resources or otherwise have an adverse
effect on Centene or the combined company; business
uncertainties and contractual restrictions while the Fidelis Care
acquisition is pending, which could adversely
affect Centene's business and operations; change of
control provisions or other provisions in certain agreements to
which Fidelis Care is a party, which may be triggered by the
completion of the Fidelis Care acquisition; loss of management
personnel and other key employees due to uncertainties associated
with the Fidelis Care acquisition; the risk that, following
completion of the Fidelis Care acquisition, the combined company
may not be able to effectively manage its expanded operations;
restrictions and limitations that may stem from the financing
arrangements that the combined company will enter into in
connection with the Fidelis Care
acquisition; Centene's ability to maintain or achieve
improvement in the Centers for Medicare and Medicaid
Services (CMS) Star ratings and other quality scores that
impact revenue; additional indebtedness incurred or equity issued
to finance the Fidelis Care acquisition; availability of debt and
equity financing, on terms that are favorable to Centene;
inflation; foreign currency fluctuations; and risks and
uncertainties discussed in the reports that Centene has
filed with the SEC. These forward-looking statements
reflect Centene's current views with respect to future
events and are based on numerous assumptions and assessments made
by Centene in light of its experience and perception of
historical trends, current conditions, business strategies,
operating environments, future developments and other factors it
believes appropriate. By their nature, forward-looking statements
involve known and unknown risks and uncertainties and are subject
to change because they relate to events and depend on circumstances
that will occur in the future. The factors described in the context
of such forward-looking statements in this press release could
cause Centene's plans with respect to the Health Net
acquisition, actual results, performance or achievements, industry
results and developments to differ materially from those expressed
in or implied by such forward-looking statements. Although it is
currently believed that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be
given that such expectations will prove to have been correct and
persons reading this press release are therefore cautioned not to
place undue reliance on these forward-looking statements which
speak only as of the date of this press
release. Centene does not assume any obligation to update
the information contained in this press release (whether as a
result of new information, future events or otherwise), except as
required by applicable law. This list of important factors is not
intended to be exhaustive. We discuss certain of these matters more
fully, as well as certain other risk factors that may
affect Centene's business operations, financial condition
and results of operations, in Centene's filings with
the SEC, including the annual reports on Form 10-K, quarterly
reports on Form 10-Q and current reports on Form 8-K.
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SOURCE Centene Corporation