Elevance Health, Inc. is a leading health company focused on improving the health of humanity. They serve people across their entire health journey with an integrated whole-health approach. The company's strategy is to be a lifetime trusted health partner through partnerships, innovation, and a high-performance culture. They offer a broad spectrum of network-based managed care risk-based plans to Individual, Employer Group, Medicaid and Medicare markets. They also provide managed care services to fee-based customers and specialty services like pharmacy, dental, vision, life, disability and supplemental health insurance. The company operates as an independent licensee of the Blue Cross and Blue Shield Association, serving members across multiple states.

• Employees: 104,900 (as of December 31, 2023)
• Geographic Footprint: Operates in all 50 states, the District of Columbia and Puerto Rico
• Headquarters: Indianapolis, Indiana
• Founded: 2001
• Number of locations/facilities: Multiple locations across the US and internationally
• Revenue: $170.2 billion (FY2023)
• Key Subsidiaries/Brands: Anthem Blue Cross, Anthem Blue Cross and Blue Shield, Wellpoint, Carelon, Amerigroup, Freedom Health, HealthSun, MMM, Optimum Healthcare, Simply Healthcare

• CEO: Gail K. Boudreaux
• CFO: Mark B. Kaye
• Executive Vice President and President, Carelon and CarelonRx: Peter D. Haytaian
• Executive Vice President and President, Commercial & Specialty Health Benefits: Charles M. Kendrick, Jr.
• Executive Vice President and Chief Digital Information Officer: Ratnakar V. Lavu
• Executive Vice President and President, Government Health Benefits: Felicia F. Norwood
• Executive Vice President and Chief Legal and Administrative Officer: Blair W. Todt
• Chief Accounting Officer and Controller: Ronald W. Penczek

Key leaders have extensive experience in healthcare, finance, and technology, with tenures varying in their current roles.

• Annual Revenue: $170.2 billion (FY2023)
• Net Income: $5.99 billion (FY2023)
• Total Assets: $108.9 billion (as of December 31, 2023)
• Employees: 104,900 (as of December 31, 2023)
• Key Financial Highlights: Revenue increased by 9.3% year-over-year, driven by higher premium revenues and growth in CarelonRx. Net income increased by 1.7% year-over-year.

Elevance Health offers a wide array of products and services:

• Health Plans: Managed care risk-based plans including PPO, HMO, CDHP, Traditional Indemnity and POS plans.
• Specialty Products: Dental, vision, life, disability and supplemental health insurance benefits.
• Pharmacy Services: Pharmacy benefit management (PBM) services through CarelonRx.
• Other Healthcare Services: Utilization management, behavioral health, integrated care delivery, palliative care, payment integrity services and subrogation services, health and wellness programs.

Elevance Health operates through four reportable segments:

• Health Benefits: Offers a comprehensive suite of health plans and services.
• CarelonRx: Includes pharmacy business, marketing and offering pharmacy services.
• Carelon Services: Integrates physical, behavioral, social and pharmacy services.
• Corporate & Other: Includes businesses that do not individually meet the quantitative threshold for an operating segment, as well as corporate expenses not allocated to other reportable segments.

Elevance Health's strategy is focused on being a lifetime trusted health partner. Key strategic initiatives include:

• Focusing on whole health by addressing physical, behavioral and social needs.
• Providing exceptional consumer experiences through personalized engagement.
• Enabling care providers with data, insights and tools.
• Utilizing digital technologies like AI to improve efficiency and experiences.
• Rationalizing business portfolio and aligning investments to core businesses.

The company aims to improve healthcare quality, manage costs, and drive growth through innovation and strategic partnerships.

Elevance Health operates in the highly competitive managed care industry. Key market trends include:

• Rising healthcare costs and the aging population.
• Increased focus on value-based care and quality outcomes.
• Technological advancements and the use of telehealth.
• Intense competition from other health insurers, pharmacy service providers and new market entrants.

The company competes on the basis of quality of service, price, access to provider networks, innovation and brand recognition. They hold a strong market position in their BCBS branded markets.

• Healthcare Cost Management: The company's profitability depends on accurately predicting and managing healthcare costs, which are subject to numerous factors including medical cost inflation, new technologies, and regulatory changes.
• Membership and Market Risks: Changes in membership levels, particularly in key states, and the ability to attract and retain customers are critical to the company's success.
• Cybersecurity and Data Security: The company is exposed to risks related to cyber-attacks and data breaches, which could disrupt operations and lead to financial and legal liabilities.
• Regulatory Risks: The company is subject to extensive federal and state regulations, including those related to Medicare and Medicaid programs, which could impact their business model and profitability.
• Competition: The managed care industry is highly competitive, and the company faces intense competition from other health insurers and healthcare providers.