WellPoint cuts forecast as quarterly profit misses view
Health insurer WellPoint Inc posted a lower-than-expected quarterly profit on Wednesday and cut its full-year earnings forecast, citing lower enrollment and higher medical cost trends, sending its shares down 8 percent in premarket. The second-largest health insurer by market value said its medical cost trends would likely come in at the high end of its forecast, while intense competition among health plans was pressuring its enrollment. Several analysts said it was particularly discouraging that WellPoint was cutting its forecast only after backing it a couple weeks ago, when it announced its $4.5 billion acquisition of Medicaid specialist Amerigroup Inc.
- Half of All Primary Care, Internal Medicine Jobs Unfilled in 2013
- How Digital Strategy Shapes Patient Engagement at Boston Children's Hospital
- CNO on Hospital Redesign: 'You Can't Over-Communicate'
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- Some Cancer Hospitals' Quality Data Will Soon Be Public
- CA Powers Up $80M HIE to 'Create Value in the Data'
- TJC Warns Hospitals of Deadly Medical Tubing Mistakes
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- 3 Traits Personality Assessments Can't Reveal
- The secret committee behind our soaring healthcare costs