Centene Corporation announced significant improvements in its Medicare Advantage Star Ratings for 2024. The company's weighted average performance ratings for its Medicare Advantage plans showed positive movement across various plan types.
Specifically, the HMO/HMOPOS plans achieved a 3.1-star rating, local PPO plans reached 2.9 stars, and PFFS plans earned a 4.0-star rating. These ratings are crucial as they directly influence the company's eligibility for quality bonus payments from the Centers for Medicare and Medicaid Services (CMS).
Improved Star Ratings are a key operational achievement that can lead to increased revenue and enhanced competitive positioning within the Medicare Advantage market. This progress aligns with Centene's strategic focus on strengthening its government-sponsored healthcare programs.
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