Elevance Health Inc. (ELV) Bundle
An Overview of Elevance Health Inc. (ELV)
General Overview of Elevance Health Inc. (ELV)
Elevance Health Inc., formerly known as Anthem, Inc., has a rich history as a major player in the healthcare sector. Founded in 1944, the company has evolved significantly, expanding its operations to become one of the largest health insurers in the United States. As of September 30, 2024, Elevance Health serves approximately 45.76 million medical members across various segments including Individual, Employer Group, Medicaid, and Medicare.
The company offers a comprehensive range of health insurance products and services, including risk-based managed care plans, pharmacy services, dental and vision benefits, and integrated health services. Elevance Health operates through a network of affiliated health plans, providing administrative services such as claims processing and medical management.
For the year 2024, Elevance Health reported total operating revenue of $130.215 billion, reflecting a growth of 1.9% from the previous year. This revenue growth is largely attributed to premium rate increases across all lines of business in response to rising medical costs.
Company's Financial Performance in Latest Financial Reports
In the latest financial reporting period, Elevance Health showcased a robust financial performance, achieving total revenues of $131.569 billion for the nine months ended September 30, 2024, which represents a 2.2% increase compared to the same period in 2023. The total operating revenue for the three months ended September 30, 2024, was $44.719 billion, marking a 5.3% year-over-year increase.
Net income for the nine months ended September 30, 2024, reached $5.558 billion, an increase of 7.7% from the prior year. However, the net income for the third quarter was $1.008 billion, a 22.5% decrease compared to the same quarter in 2023. This decline was attributed to a net decrease in operating gain and adjustments related to the sale of certain business segments.
Elevance Health's diluted earnings per share (EPS) was reported at $23.81 for the nine months ended September 30, 2024, reflecting a 10.4% increase from $21.56 in the previous year. The company also reported a dividend of $4.89 per share for the same period.
| Financial Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Total Operating Revenue | $44.719 billion | $42.480 billion | 5.3% |
| Net Income | $1.008 billion | $1.300 billion | -22.5% |
| EPS (Diluted) | $4.36 | $5.45 | -20.0% |
| Operating Cash Flow | $5.102 billion | $11.032 billion | -53.8% |
Introduction to Elevance Health as an Industry Leader
Elevance Health stands as one of the leading health insurance companies in the United States, leveraging its extensive network and broad range of services to cater to diverse healthcare needs. The company is recognized for its innovative approach in integrating healthcare services and providing a wide array of managed care options to its members.
As of September 30, 2024, Elevance Health's medical membership reached approximately 45.76 million, a slight decrease from the previous year, primarily driven by Medicaid membership attrition. The company's strategic focus on expanding its Employer Group fee-based and Individual business segments has been instrumental in offsetting losses in other areas.
Investors and stakeholders are encouraged to explore further the factors contributing to Elevance Health's success in the highly competitive healthcare landscape, including its commitment to improving health outcomes and operational efficiency.
Mission Statement of Elevance Health Inc. (ELV)
Mission Statement of Elevance Health Inc. (ELV)
Elevance Health Inc. is a health company with the purpose of improving the health of humanity. As one of the largest health insurers in the United States, the company serves nearly 46 million medical members through its affiliated health plans as of September 30, 2024. The mission statement serves as a guiding principle for the company’s long-term goals, emphasizing its commitment to providing high-quality health insurance and services across various markets, including Individual, Employer Group, Medicaid, and Medicare.
Core Component 1: Improving Health
The first core component of Elevance Health's mission is its commitment to improving health. This commitment is evident in the company's extensive portfolio of health services. In 2024, Elevance Health operates over 100 health plans across multiple states, and it continues to expand its services to meet the evolving needs of its members. The focus on health improvement is also reflected in the company's investments in technology and digital health solutions, which aim to enhance patient engagement and care delivery.
Core Component 2: Trusted Health Partner
The second core component of the mission statement emphasizes Elevance Health’s role as a trusted health partner. This partnership is built on a foundation of transparency, reliability, and support for its members. As of September 30, 2024, the company reported a net income of $5.558 billion for the year-to-date, showcasing its financial stability and ability to invest in member services. Additionally, Elevance Health has implemented comprehensive care management programs that integrate physical and behavioral health services, reflecting its commitment to holistic member care.
Core Component 3: Broad Spectrum of Services
The third core component highlights the broad spectrum of services offered by Elevance Health. The company provides a wide array of managed care services, including claims processing, medical management, and wellness programs. In 2024, Elevance Health reported total revenues of $131.569 billion, underscoring the diverse range of products and services available to its members. Furthermore, the company’s CarelonRx division offers integrated pharmacy services, further enhancing its service portfolio and addressing the needs of its members effectively.
| Metric | Value |
|---|---|
| Medical Members | 46 million |
| Net Income (2024 YTD) | $5.558 billion |
| Total Revenues (2024) | $131.569 billion |
| Number of Health Plans | 100+ |
| Dividends per Share | $1.63 |
Elevance Health Inc.'s mission statement is not just a declaration; it is a framework that directs the company’s strategies and operations. By focusing on improving health, fostering trust, and offering a comprehensive range of services, Elevance Health continues to position itself as a leader in the health insurance industry, committed to enhancing the well-being of its members and the broader community.
Vision Statement of Elevance Health Inc. (ELV)
Vision Statement Overview
Elevance Health Inc. (ELV) envisions itself as a leading health company dedicated to improving the health of humanity. The company aims to serve nearly 46 million medical members through its affiliated health plans by the end of 2024, highlighting its commitment to providing essential health services across various markets.
Commitment to Health Innovation
The vision of Elevance Health emphasizes innovation in healthcare services. The company has integrated its various healthcare-related brands under the Carelon umbrella, which focuses on providing comprehensive health solutions, including pharmacy and behavioral health services.
| Service Type | Members (in millions) | Growth Rate (%) |
|---|---|---|
| Medical Membership | 45.76 | -3.3 |
| Dental Members | 7.021 | 3.6 |
| Vision Members | 10.382 | 5.3 |
| Medicare Advantage | 2.047 | -0.8 |
Focus on Comprehensive Care
Elevance Health's vision includes a focus on providing a broad spectrum of managed care services. The company aims to enhance member experience through integrated health services that address both physical and mental health needs.
Market Leadership and Accessibility
As of September 30, 2024, Elevance Health operates as one of the largest health insurers in the United States. The company is licensed to conduct insurance operations in all 50 states, the District of Columbia, and Puerto Rico, ensuring broad accessibility to its services.
| Financial Metric | Value (in millions) | Change (%) |
|---|---|---|
| Total Operating Revenue | 130,215 | 1.9 |
| Net Income | 5,558 | 7.7 |
| Earnings Per Share (EPS) | 23.81 | 10.4 |
| Operating Cash Flow | 5,102 | -53.8 |
Strategic Partnerships and Community Engagement
Elevance Health recognizes the importance of collaboration in achieving its vision. The company engages with various stakeholders, including healthcare providers and community organizations, to enhance healthcare delivery and outcomes.
Future Outlook
Looking ahead, Elevance Health aims to continue evolving its service offerings while maintaining its commitment to improving health outcomes for all members. The company is focused on adapting to industry changes and member needs in a dynamic healthcare environment.
Core Values of Elevance Health Inc. (ELV)
Integrity
Integrity is a cornerstone of Elevance Health Inc., representing a commitment to ethical practices, transparency, and accountability. This value is essential in fostering trust with members, stakeholders, and employees.
Elevance Health has demonstrated its commitment to integrity through various initiatives. For example, the company has implemented comprehensive compliance programs to ensure adherence to regulatory standards. Additionally, Elevance Health has established a whistleblower policy that encourages employees to report unethical behavior without fear of retaliation.
Compassion
Compassion reflects Elevance Health's dedication to understanding and addressing the needs of its members. This value is vital for delivering high-quality care and ensuring positive health outcomes.
Elevance Health exemplifies compassion through its Carelon Services, which provides integrated health management programs aimed at improving patient care. In 2024, the company expanded these services, increasing the number of consumers served by 25% year-over-year, thereby enhancing access to personalized care solutions.
Innovation
Innovation is critical for Elevance Health to stay competitive in the rapidly evolving healthcare landscape. This value drives the company to seek new solutions and improve existing processes.
In 2024, Elevance Health launched several digital health initiatives, including a telehealth platform that increased virtual consultations by 40%, catering to the growing demand for remote healthcare services. This platform not only enhances member experience but also improves healthcare delivery efficiency.
Excellence
Excellence embodies Elevance Health's commitment to achieving the highest standards in service delivery and operational efficiency. This value is crucial for maintaining member satisfaction and trust.
In terms of operational performance, Elevance Health reported an operating revenue of $130.215 billion for the nine months ended September 30, 2024, an increase of 1.9% from the previous year. The company's operating margin stood at 5.5%, reflecting its focus on excellence in managing costs while providing quality care.
Collaboration
Collaboration emphasizes Elevance Health's belief in teamwork and partnership, both internally and externally. This value is essential for achieving shared goals and delivering comprehensive care.
In 2024, Elevance Health strengthened its partnerships with healthcare providers, resulting in a 30% increase in collaborative care agreements. These partnerships enhance care coordination and improve health outcomes for members across various service lines.
| Core Value | Key Initiative | Impact |
|---|---|---|
| Integrity | Compliance programs and whistleblower policy | Enhanced trust and ethical standards |
| Compassion | Expansion of Carelon Services | 25% increase in consumers served |
| Innovation | Launch of telehealth platform | 40% increase in virtual consultations |
| Excellence | Operational performance improvement | Operating revenue of $130.215 billion |
| Collaboration | Strengthened partnerships with providers | 30% increase in collaborative care agreements |
Elevance Health Inc. (ELV) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- Elevance Health Inc. (ELV) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Elevance Health Inc. (ELV)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Elevance Health Inc. (ELV)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.