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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 les

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
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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page titled: "List of largest companies in the United States by revenue" [1], it lists Centene as 22nd with a slightly outdated ~$154B in revenue.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...

s0rta 2y ago

It's 25th on the fortune 500 list

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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...