us fourth updated and and XXXX and full quarter review as our thanks, we morning Jen, this you, provide everyone, XXXX. year results for for outlook joining Thank our
out let's year. First, close the
year improving and on our corporate delivering productive core quality We our on business, our including leadership challenges, a structure, along dynamic on Centene. operations the organizational our to governance, transition, was a focusing transforming financial took commitments many and modernizing for XXXX approach and way.
EPS adjusted above $X.XX our These XXXX top outlook higher strong EPS This guidance adjusted morning, came issued in of end of for of full the the recently year than of were X% and midpoint the and quarter initial year. reported we $X.XX. our most XXXX fourth results
Looking business performed back our XXXX, over lines X well. core
long-term In Marketplace, we clinical the off continuing our our solid product through programs This market positioning, margin in of achieve to materially promised our delivering in to and and profitable strategic Ambetter improved the growth than in product goals Ambetter point show and growth profitability more basis target expansion. advancements strong a provided we margin points jumping while improvement with XXX line XXXX.
In Centene year generated our the to Medicare XX% year-end business, compared ending growth members in more XXXX. with outsized Advantage XXXX,
you've clinical on providing a enrollees program experience. expanded a strong year lot Our focus quality the improvement, throughout with care more member value-based about; heard was which performance, relationships; and seamless
move increasingly through operations we profitability strength scale. work its WellCare's HBR quality an the year-over-year WellCare's XXXX And performance through improve demonstrated and approach we're was XXXX, In on to lever important provide confident our in will underlying of disciplined improvement. to as expanded
Our ever local than before. geographies throughout the performed more Medicaid in members year, markets also serving well more
our to in reprocurements and as Medicaid leadership including Nebraska, name go-live, market of Missouri, care. Delaware Our and significant as a managed number Texas a position Louisiana, presence just well successful and in program bolstered expansions, few,
Counties. was XX direct Angeles ultimately the selected Centene and Sacramento markets, in state key California, In including serve Los through to contracts
the the delivery programming. the towards readiness state X/X/XX start California health innovative and date new working for to care the and partnership to state's of contracts, medical improve advance continued our the are we system forward with We look
success. of reducing to and successfully plan, year PBM marked the our first partnership, every the major a across We real negotiating including hit milestones, making tools estate our will of it enterprise; for XX% all data execution on new value-creation flexibility, investments footprint also and our our was us. and evolution cultural providers work and new important full company; UM easier by measure that employees workforce XXXX in make redesigning by important it accommodate digital to function with our the for itself members, our an
opportunities well also in million only our in having not in but added new XXXX $XXX longer-term exit achieve $XXX backlog. XXXX, SG&A savings SG&A We positioned to targeted our million to
In portfolio value-creation achieving on process. we milestones, meaningful these to our made progress addition review
execution significant QX allowed enterprise, streamlined of It during in XXXX and to our This core we X. of in as reduced We XXXX. and disciplined divestitures Specialty timely closed repurchases also powered and the our on previously XXXX increase XXXX, announced of number since our bringing weeks and X to total the sale business us focus divestitures in of year-to-date announced has of Centurion has a Notably, distraction sales share our the first fourth. lines. Magellan well closed XXXX and HealthSmart, as
past Finally, long-term XXXX growth. the to plan, in XXXX. EPS in in to and our place about company's value-creation and let's progress financial demonstrated shareholders With goals With far. December, against enterprise for well around XX% adjusted a and so in that, on members XX% talk capitalize aligned positioned the senior are successfully we a momentum our we the journey strategic commitment and of long-term to our the year XXXX, team strategic of inclusive leadership continue
the this market. of products vehicle leadership and open growth enrollment, position of during increasing reinforces outpacing Ambetter's within This this Centene's OEP itself. growth year's Marketplace total market the even durability coverage view only the a the exceptional robust performance year's as Marketplace yielded our of
attract a our growth decisively to harness leveraging broker portfolio product approach local to and retain and opportunity, basis market-by-market on and positioning, membership our strong footprint. pricing team To this across Ambetter Marketplace applied our a expertise relationships
and team's membership. provide is to some growth the on still OEP respect share performance to claims a we expectations Ambetter's While days with about given observations experience, strong it few early want outperformance
of majority and Silver the Similar XXXX in with same our the XX% our our no membership a after membership XXXX is membership pleased we previous represented in demonstrating Plan plan of Approximately continued to the and our plan the enrolled our approximately to seeing of Silver compared different. product. XX% year, newer selected majority XXXX. uptake have years, consistently plans products, flexibility the year is time, for members. value in we are are core At our design XXXX of
what like geography product for we consistent positioning. gender, subsidy consistent with Key XXXX importantly, age, last we the membership factors experienced levels are used demographics these assumptions are Most year. pricing with and also
the during product XXXX. And expect of are X% members X.X% Marketplace long-term opportunity We to the continue pleased business expand. to range our so margins to targeted to have reach serve the that continues we Marketplace to as of many achieve within to
for Day month, As Advantage for enrollment in results we we investors highlighted at Medicare Investor than December. XXXX developed last softer provided expectations
our scale in XXXX to foundationally align we margin offerings outsized product on achieved AEP the through overall for long-term goal XXXX was and recovery, XXXX. growth Our and Medicare stability capitalizing for the quality,
decision our operational directly the member our to control to proprietary the channels. and contributes distribution effort better strategy on we requires In made focus more overall results, experience, change stability quality to which and
our we of better an Medicare than by prioritize long-term dual for light investment sales significantly the of Near-term That go-to-market view reinforcing impacted channels expected, Advantage channels members. said, more expected, our competitor deprioritized. were performed strategy optimal of particularly distribution in and retention strategy than and several in we eligible
Despite expectations, to of XXX points HBR continue XXXX. the expect relative membership results improvement soft to basis we in Medicare
last customer levels, operational and improved calls we brokers, Importantly, satisfaction and year. strong with for are impact this service already time in overall to reduction seeing members a XX% positive compared
to more news. Turning Medicare recent
of avoids methodology abrasion supportive decision and undefined That approach. our Regarding of significant of adjustment open questions historical cost and in and sampling number viability RADV of for the finalization provider the the we partners. to regard rule, of the the as-yet of are a scope to this decision CMS' leaves as the said, extrapolation audits. the lack final CMS' fee-for-service limit
We determine the forward. partners path our industry best to collaboration are working in with
less preliminary funding. week's and expectation rates initial notice, below rate internal for last than recent Regarding XXXX our years are favorable
to feedback we path rate as Medicare meet that XXXX support work member achieving results exercise to and during forward needs fully period the a in our ability we April. to and said, comment our will We agency CMS Advantage look finalization provide to with see collaborating financial That the towards goals.
Finally, as Medicaid begin up the March an for Congress important to an throughout XXXX Federal Consolidated be spring, this year coverage we which In the to provision all for XXXX. This for XX. working Act ends have been event a tees prepare business. XXXX, December, redeterminations passed know, will Appropriations on we continuous
first, we X the optimizing are process, we As redetermination members. the on focused things: verification process for approach
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to to just weeks that FCC the member Finally, like communication and governmental few other a guidance highlight January, health Medicaid ago. improve related news late issued to an some came opportunities important In important maintaining verification process, in relative engagement. Medicaid step but a We member meaningful forward this also view coverage. as supporting approach care the not to only incredibly industry's modernizing step, seamless a overall to I'd
guidance and to prove outcomes. engagement the working to states redetermination member this strategy our improving and of integrate value are cost reducing in We into with digital closely
our outlook XXXX positioned the XXXX, recently view achieve for on guidance. more full Drew and account in year greater we top are when updated informed moment. a into balance, of closed you just provide our our half the redeterminations divestitures, EPS detail enrollment of open timing adjusted take of to On well will
is we This ahead, dynamics market Medicare across are to months to notable new enterprise and and through before, be fortify our in we to which to year navigate Centene, lines fast-growing Marketplace manage XXXX positioning last our look operations focus we transformative and products. work redeterminations principles. need we one another to change ever align promises have done product for not than to been over we and have thanks this the XX better equipped value-creation to around As from for will the organization the the to
As score improvement. tremendous dual we continue and of we including our look populations adjacencies X core eligibles, see Medicaid all opportunity STAR for downfield, Marketplace complex to businesses, and
track against long-term executing and and our delivering value to continue results to goals against We strong well driving to strategic look our members and plan, forward shareholders.
in over to Drew will results our detail. to and I that, outlook turn it review With more
