Company profile

Future of WellCare Health Plans

#
Rank
795
| Quantumrun Global 1000

WellCare Health Plans, Inc. started operations in 1985 and is based in Tampa, Florida. WellCare offers Medicaid and Medicare managed care health plans for over 3.9 million members. Wellcare Health Plans, Inc. is the holding company for several subsidiaries, including Staywell, Harmony, WellCare, HealthEase, and 'Ohana. Regional offices are located in Manhattan, New York, Baton Rouge, Louisiana, Houston, Texas, Miami, Florida; New Haven, Connecticut; Marietta, Georgia; and Chicago, Illinois.

Home Country:
Sector:
Industry:
Healthcare - Insurance and Managed Care
Founded:
1985
Global employee count:
7400
Domestic employee count:
Number of domestic locations:

Financial Health

Revenue:
$14237100000 USD
3y average revenue:
$13695733333 USD
Operating expenses:
$13707600000 USD
3y average expenses:
$13357766667 USD
Funds in reserve:
$3961400000 USD

Asset Performance

  1. Product/Service/Dept. name
    Medicaid health plan
    Product/Service revenue
    8800000000
  2. Product/Service/Dept. name
    Medicare health plan
    Product/Service revenue
    3900000000
  3. Product/Service/Dept. name
    Medicare pdp
    Product/Service revenue
    900000000

Innovation assets and Pipeline

All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page. 

DISRUPTION VULNERABILITY

Belonging to the healthcare sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:

*First off, the late 2020s will see the Silent and Boomer generations enter deep into their senior years. Representing nearly 30-40 per cent of the global population, this combined demographic will represent a significant strain on the health systems of developed nations. *However, as an engaged and wealthy voting block, this demographic will actively vote for increased public spending on subsidized health services (hospitals, emergency care, nursing homes, etc.) to support them in their greying years.

*The economic strain caused this massive senior citizen demographic will encourage developed nations to fast-track the testing and approval process for new drugs, surgeries and treatment protocols that may improve the overall physical and mental health of patients to a point where they can lead independent lives outside of the health care system.

*This increased investment into the health care system will include a greater emphasis on preventative medicine and treatments.

*By the early 2030s, the most profound preventative health care treatment will become available: treatments to stunt and later reverse the effects of aging. These treatments will be provided annually and, over time, will become affordable to the masses. This health revolution will result in a reduced usage and strain on the overall health care system—since younger people/bodies use less health care resources, on average, than people in older, sicker bodies.

*Increasingly, we will use artificial intelligence systems diagnose patients and robots to manage intricate surgeries.

*By the late 2030s, technological implants will correct any physical injury, while brain implants and memory erasure drugs will cure most any mental trauma or illness.

*By the mid-2030s, all medicines will be customized to your unique genome and microbiome.

COMPANY’S FUTURE PROSPECTS

Company Headlines