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I've never heard of them. Then I read the bring in more revenue then "Disney, FedEx or PepsiCo". Wait, what? Oh, right, subsidaries. And, of course, a giant

I've never heard of them. Then I read the bring in more revenue then "Disney, FedEx or PepsiCo". Wait, what? Oh, right, subsidaries. And, of course, a giant in Medicare Advantage. That company sounds ... very bad and needs to start doing what they are supposed to be doing and stop playing games. People are looking for help and they are looking for ... well, how to squeeze out more money I suppose. "You need psychiatric care? Sorry, we're a bit busy trying to make more money. Priorities and all." "Someone died due to our lack of caring about any of that? Sorry to hear that. Listen, gotta go. (click)" Sue them into the ground.

aziaziazi 2y ago
> bring in more revenue then "Disney, FedEx or PepsiCo". > Sue them into the ground Good luck with that :-)
- EMM_386 2y ago
  True, they are too big and have their tentacles in too many things to make them go away. However, when you are dealing with people who are supposed to be helping people, and they are staring at how much money is currently coming instead, just do what needs to be done. Any single law they broke? Sue them. People are asking for serious help, and they aren't helping them. And people are dying. That is beyond unaccepable. I hate these types of companies. It's like the companies that buy the land under hospitals, make them pay to stay on what is no longer their land, squeeze out as much as they can, bankrupt the hospital, and do it again to another one. Especially brutal when they do that to rural hospitals where now patients are pretty far from the other one still standing. I have a very strong dislike for any companies in that category. The people don't matter, as long as we can extract the money, we're going to do it. Greed on steroids.
lotsofpulp 2y ago
I don’t think the article is right. >One of the 25 largest corporations in America, Centene brings in more revenue than Disney, FedEx or PepsiCo, but it is less known because its hundreds of subsidiaries use different names. https://companiesmarketcap.com/largest-companies-by-revenue/ https://companiesmarketcap.com/largest-companies-by-revenue/ By what measure is Centene one of the US’s 25 largest corporations? Its way down at #519 in global market cap rankings, which means it is nowhere near top 25 in the US by market cap. It has $157B in revenue, so maybe that gets it close to top 25, though I still doubt it. It has less than 70k employees, which is not near top 25 either. And there are 5 other managed care organizations (aka health insurers) doing more business than Centene (UNH, Elevance, CVS, Cigna, and Humana). It has miniscule profit margins (1.56%) because it is paying out almost all of its revenue to healthcare providers (90% medical loss ratio). https://www.macrotrends.net/stocks/charts/CNC/centene/profit-margins https://www.macrotrends.net/stocks/charts/CNC/centene/profit... https://www.healthcaredive.com/news/centene-medicaid-redeterminations-second-quarter-earnings/689278/ https://www.healthcaredive.com/news/centene-medicaid-redeter... If this business approved more claims or paid more for the claims, it would either go out of business or become a charity. Or it would have to increase premiums.
- s0rta 2y ago
  It's 25th on the fortune 500 list
- deleted 2y ago
  [deleted]
- nathannecro 2y ago
  It's because the article uses a different source than you for total revenue. If you look at the wiki page titled: "List of largest companies in the United States by revenue" [1], it lists Centene as 22nd with a slightly outdated ~$154B in revenue. You should know the author was referencing American companies because your second line of your post reads, "One of the 25 largest corporations in America, Centene brings in more revenue...". If you look at your 'Companies Market Cap' site, you'll actually see that it includes a global set of corporations including, but not limited to, Saudi Aramco (KSA), Sinopec (CN), Petro China (CN), Volkswagen (DE), China State Engineering (CN),Toyota (JPN), JBS (BRA) etc. And those were the only ones I saw without scrolling. I have issues with the way that author wrote her article, but I have even more of an issue with commenters like you who don't actually take the time to read or comprehend the matter at hand. You just come into a comment section with the intention of trying to prove your preconceived perspective. The point of this article, if it's not clear, is that certain health insurers do not do a good job advocating for their insureds and do not fulfil their end of the contract. In this scenario, it seems like one could make a good argument that this lead to the death of a young man wrestling with alcoholism. It's obvious, if you read the other comments here, that the real story are the sweeping complaints of the private healthcare system in the US in general as many others seem to have had similar issues. I'm not sure what exactly their NPM has to do with this discussion. Other, seemingly better insurers (both larger in scale and fewer complaints by customers) post margins that are more than double of Centene so it seems like Centene should take your advice and either go out of business or do a better job running their existing business. 1: https://en.wikipedia.org/wiki/List_of_largest_companies_in_the_United_States_by_revenue https://en.wikipedia.org/wiki/List_of_largest_companies_in_t...

aziaziazi 2y ago

> bring in more revenue then "Disney, FedEx or PepsiCo". > Sue them into the ground Good luck with that :-)

EMM_386 2y ago
True, they are too big and have their tentacles in too many things to make them go away. However, when you are dealing with people who are supposed to be helping people, and they are staring at how much money is currently coming instead, just do what needs to be done. Any single law they broke? Sue them. People are asking for serious help, and they aren't helping them. And people are dying. That is beyond unaccepable. I hate these types of companies. It's like the companies that buy the land under hospitals, make them pay to stay on what is no longer their land, squeeze out as much as they can, bankrupt the hospital, and do it again to another one. Especially brutal when they do that to rural hospitals where now patients are pretty far from the other one still standing. I have a very strong dislike for any companies in that category. The people don't matter, as long as we can extract the money, we're going to do it. Greed on steroids.

lotsofpulp 2y ago

I don’t think the article is right. >One of the 25 largest corporations in America, Centene brings in more revenue than Disney, FedEx or PepsiCo, but it is less known because its hundreds of subsidiaries use different names. https://companiesmarketcap.com/largest-companies-by-revenue/ https://companiesmarketcap.com/largest-companies-by-revenue/ By what measure is Centene one of the US’s 25 largest corporations? Its way down at #519 in global market cap rankings, which means it is nowhere near top 25 in the US by market cap. It has $157B in revenue, so maybe that gets it close to top 25, though I still doubt it. It has less than 70k employees, which is not near top 25 either. And there are 5 other managed care organizations (aka health insurers) doing more business than Centene (UNH, Elevance, CVS, Cigna, and Humana). It has miniscule profit margins (1.56%) because it is paying out almost all of its revenue to healthcare providers (90% medical loss ratio). https://www.macrotrends.net/stocks/charts/CNC/centene/profit-margins https://www.macrotrends.net/stocks/charts/CNC/centene/profit... https://www.healthcaredive.com/news/centene-medicaid-redeterminations-second-quarter-earnings/689278/ https://www.healthcaredive.com/news/centene-medicaid-redeter... If this business approved more claims or paid more for the claims, it would either go out of business or become a charity. Or it would have to increase premiums.

s0rta 2y ago
It's 25th on the fortune 500 list
deleted 2y ago
[deleted]
nathannecro 2y ago
It's because the article uses a different source than you for total revenue. If you look at the wiki page titled: "List of largest companies in the United States by revenue" [1], it lists Centene as 22nd with a slightly outdated ~$154B in revenue. You should know the author was referencing American companies because your second line of your post reads, "One of the 25 largest corporations in America, Centene brings in more revenue...". If you look at your 'Companies Market Cap' site, you'll actually see that it includes a global set of corporations including, but not limited to, Saudi Aramco (KSA), Sinopec (CN), Petro China (CN), Volkswagen (DE), China State Engineering (CN),Toyota (JPN), JBS (BRA) etc. And those were the only ones I saw without scrolling. I have issues with the way that author wrote her article, but I have even more of an issue with commenters like you who don't actually take the time to read or comprehend the matter at hand. You just come into a comment section with the intention of trying to prove your preconceived perspective. The point of this article, if it's not clear, is that certain health insurers do not do a good job advocating for their insureds and do not fulfil their end of the contract. In this scenario, it seems like one could make a good argument that this lead to the death of a young man wrestling with alcoholism. It's obvious, if you read the other comments here, that the real story are the sweeping complaints of the private healthcare system in the US in general as many others seem to have had similar issues. I'm not sure what exactly their NPM has to do with this discussion. Other, seemingly better insurers (both larger in scale and fewer complaints by customers) post margins that are more than double of Centene so it seems like Centene should take your advice and either go out of business or do a better job running their existing business. 1: https://en.wikipedia.org/wiki/List_of_largest_companies_in_the_United_States_by_revenue https://en.wikipedia.org/wiki/List_of_largest_companies_in_t...