CareSource Gross Revenue Reaches $ 11.2 Billion

July 9 — CareSource’s new annual report shows it ended 2020 with more members, increased revenue and positioned for new opportunities in 2021.

the Daytondowntown based insurer Dayton and employs approximately 4,500 people in total.

Source of care President and CEO Erhardt Preitauer said in a statement on the results of the annual report that the company is still tackling the health issues caused by the pandemic, so it still has a lot of work to do. But on top of that, he said there would be a lot more work as the pandemic has impacted people in different ways, from substance use disorders to behavioral health to them. complex care for special populations.

“We have a lot of work ahead of us, but we also have an amazing organization with the best capabilities in the country. I think our limits are really just our own constructions. We are up to the challenge,” said Preitauer.

Source of care mainly earns his money through government insurance programs. Programs like Ohio Medicaid give Source of care money per member per month and in turn Source of care coordinate their health benefits and pay claims.

The company reported $ 11.2 billion in gross sales in 2020, compared to $ 10.6 billion in 2019. Source of care said 9.7% went to administration, up from 8.3% reported the previous year.

Here are some highlights from 2021 in the annual report: March 2020, giving $ 500,000 immediate needs related to the coronavirus pandemic, such as access to food in Ohio and Indiana and childcare for medical staff Georgia. – In one Franklin County trial study, they found that pregnant women receiving housing assistance were more likely to have healthy full term babies, and as a result of this trial study, Source of care plans to test the Good Start at Home model in other communities and on a larger scale. – When you comply with the payment measures for state and federal claims, Source of care reported less than 0.01% of claims older than 30 days. – The use of telehealth has also increased during the pandemic. “Before the pandemic, less than 10,000 people used telehealth for behavioral health services, and now we have over 100,000 people. It’s remarkable,” said Jonas thom, vice president of behavioral health. – The insurer has also established more relationships with local prison authorities in 2020 “to get them the information they need to better serve their people who are in prison and connect these people to outside services, so that they do not reoffend not, ”said Thom.

There were 2.05 million people enrolled in Source of care 2020, up from 1.8 million in 2019. The bulk of their members continue to benefit from the Ohio Medicaid program, but the company operated in five states in 2020. Their products include Medicaid, Marketplace, My care and Medicare Advantage insurance plans.

This year, Source of care discovered that he did not make the cut to extend to Oklahoma, but was approved as a partner in a new Arkansas Medicaid plan for people with complex behavioral, developmental, and intellectual health disorders.

by CareSource The offer was also accepted to continue to be part of Ohio Medicaid, which is being redesigned and re-bidding all of its contracts with new terms.


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