WellCare Health Plans, Inc.’s WCG subsidiary, WellCare of Iowa, has entered into an agreement with Mercy Health Network (“MHN”) to provide its Medicaid members in-network coverage through the latter.
These members will be able to access medical centers, community hospitals, physician clinics, urgent care centers, ambulatory care centers, skilled nursing facilities and other services and facilities belonging to MHN. They will also receive acute care services like maternity and infant care, children's care, emergency care, cancer care, behavioral medicine, cardiac care, senior care, neurology, orthopedics, and rehabilitation in all of the communities and regions of Iowa served by MHN.
WellCare Health remains focused on enhancing care for its members. The partnership with MHN is yet another step in this regard.
WellCare Health, which had around 3.8 million members as of Sep 30, 2015, provides government-sponsored managed care services, mainly through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to patients with complex medical needs. On the other hand, MHN – an integrated system of hospitals and patient care facilities – focuses on improving healthcare services to Iowans through cost containment, quality improvement and increase in the accessibility to care. Thus, the combination of the two entities is expected to benefit the Iowan Medicaid members of WellCare. This in turn should attract more members for the company, thereby making way for more revenue generation.
WellCare currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care services space include Triple-S Management Corporation GTS, UnitedHealth Group Incorporated UNH and Centene Corp. CNC. While Triple-S Management and UnitedHealth Group sport a Zacks Rank #1 (Strong Buy), Centene holds a Zacks Rank #2 (Buy).
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