Centene Corporation (NYSE: CNC) is a multi-line managed care organization that provides Medicaid-related programs to organizations and individuals through government subsidized programs, including Medicaid, Supplemental Security Income (SSI) and the State Children's Health Insurance Program (SCHIP). In addition, we provide specialty services including behavioral health, nurse triage and pharmacy compliance to our own and other healthcare organizations. Over its 21-year history, Centene has developed expertise, which allows it to provide quality, cost-effective healthcare services to its more than 772,700 current Medicaid members.
Medicaid managed care spending continues to grow. Government spending estimates expect spending to increase to more than $400 billion by 2007 as compared to the 2003 level of $270 billion. Overall, Medicaid spending is expected to grow, on average, 8% (12.1% in states and 3.9% federally) in fiscal year 2005. Consequently, state governments continue to work with managed care companies like Centene to reduce the growing expense of providing healthcare for the Medicaid recipients. Historically, the largest group of Medicaid recipients has been children. Today, one in four children are covered by Medicaid.
Centene operates health plans in Indiana, Kansas, Missouri, New Jersey, Ohio, Texas and Wisconsin. The company also contracts with other healthcare organizations to provide specialty services including behavioral health, nurse triage and pharmacy compliance.