During the first quarter of 2011, we continued to experience increased electronic claims submissions and auto-adjudication of claims which reduced the average time from claims incurred to claims paid by 0.6 days. Reduced utilization and the related absence of claims payable due to average completion time decreased days in claims payable by 0.3 days. Days in claims payable was also reduced by 0.3 days as a result of the timing of pharmacy claims payments. As we continue to experience increasing claims auto-adjudication (5% increase from the fourth quarter 2010 to the first quarter 2011) and EDI submission rates, our targeted range for days in claims payable is under review.

Shares Trading Up

Shares of Centene Corporation (CNC) are trading up 4.24% as of 12:27PM EDT, hitting 35.85. Centene Corporation has a 52 week low of 20.00 and a 52 week high of 35.85. The companies last released earnings were 1.85 per share. were The company has a market cap of and a price-to-earnings ratio of 19.29.

Cost Effective Coverage

Centene’s CeltiCare subsidiary offers states unique “exchange-based” and other cost-effective coverage solutions for low-income populations.  The Company operates local health plans and offers a range of health insurance solutions.  It also contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, life and health management, managed vision, telehealth services, and pharmacy benefits management.  More information regarding Centene is available at

Lower Profits

Despite increased sales, the delayed approval by federal authorities of certain contract revenues caused Centene Corp. to lower its profits in the first quarter. The Clayton-based manager of Medicaid and other health services in various states reported a net income of $23.7 million, or 46 cents a share, compared to $24million, or 49 cents, a year ago. Insurance premium and service revenues rose 15.4 percent to $1.2 billion.
   
P/E Ratio

Centene Corporation operates as a multiline healthcare company in the United States. It operates through two segments, Medicaid Managed Care and Specialty Services. The company has a P/E ratio of 18.3, above the average health services industry P/E ratio of 17.5 and above the S&P 500 P/E ratio of 16.7.

http://dailynewspulse.com/centene-corp-nysecnc-shares-are-trading-up-cautious-outlook/2221859/