Budgeting
The American Hospital Association took issue with the report, saying the methodology is flawed.
CBO fielded questions from lawmakers ranging from AI and machine learning to healthcare consolidation and transparency.
An average of 3.2% of all claims denied include those that are preapproved via the prior authorization process.
The organization attributes the results to its insurance business units, notably Highmark Health Plans and HM Insurance Group.
Eighty four percent of health systems cite lower reimbursement from payers as a top cause of low operating margins.
The percentage of America's rural hospitals operating in the red jumped from 43% to 50% in the last 12 months, the biggest leap yet.
The company said it plans to use the funding to help expedite its product roadmap and advance AI foundation models for medicine.
For 2023, Centene logged $2.7 billion in profit and $154 billion in revenue, both year-over-year improvements.
MGMA: Since plans often benchmark their rates based on the Medicare Physician Fee Schedule, the low rates underscore the negative impact of the cuts.
Optum Rx forced pharmacies to grant it discretion in calculating DIR fees they had to pay, the lawsuit claims.