Coventry Health Care, (FRA:HCA) Momentum Rank : 0 (As of May. 05, 2024)

Coventry Health Care, Inc. was incorporated under the laws of the State of Delaware on December 17, 1997 and is the successor to Coventry Corporation, which was incorporated on November 21, 1986. The Company provides risk and fee-based managed care products and services to a cross section of individuals, employer and government-funded groups, government agencies, and other insurance carriers and administrators. Its operations are segmented into three - Commercial Products, Government Programs and Workers' Compensation. The Commercial Products segment provides health plan commercial risk, commercial management services, Medicare Advantage Coordinated Care Plans, and Medicaid products. Its health plans offer commercial risk products, including health maintenance organization, preferred provider organization, and point of service products to individuals and employer groups. This segment also provides health insurance benefits under the Federal Employees Health Benefits Program; and administrative services only products, such as medical claims administration, pharmacy benefits management, and utilization management and quality assurance programs. In addition, it offers consumer-directed benefit options comprising health reimbursement and savings accounts to commercial customers; provider network rental services through a PPO network to national, regional, and local third-party administrators, as well as insurance carriers; and coordination of mental health and substance abuse treatment services. The Government Programs segment offers Medicare Part D program that provides access to prescription drug coverage for eligible beneficiaries; and comprehensive health benefits on a risk basis to members participating in the Medicare Advantage CCP and Medicaid programs. Its Workers Compensation segment offers fee-based managed care services, such as provider network access, bill review, pharmacy benefit management, durable medical equipment and ancillary services, and care management services to underwriters and administrators of workers compensation insurance. The company serves individuals, employer and government-funded groups, government agencies, and other insurance carriers and administrators through direct sales staff, and independent insurance brokers and agents.