During the corresponding time, Wellcare Health Plans Inc recorded a revenue increase by 41.16 % year on year, sequentially revenue grew by 1.86 %. While revenue at the Wellcare Health Plans Inc 's corporate clients
Wellcare Health Plans Inc's Comment on Sales, Marketing and Customers
Pharmacy services are reimbursed based on a fixed fee for dispensing medication
and a separate payment for the ingredients. Ingredients produced by multiple
manufacturers are reimbursed based on a maximum allowable cost for the ingredient.
Ingredients produced by a single manufacturer are reimbursed as a percentage
of the average wholesale price. In certain instances, we may contract directly
with the sole-source manufacturer of an ingredient to receive a rebate, which
may vary based upon volumes dispensed during the year. Effective April 1, 2015,
we outsourced pharmacy rebate management to a third party. As of January 1,
2016, we expanded the vendor relationship to include all pharmacy benefit management
services, including rebates processing, claims processing, pre-authorization,
utilization management and other related services.
We credential physicians, hospitals and other health care professionals in
our participating provider networks using quality criteria, which meet or exceed
the standards of external accreditation or state regulatory agencies, or both.
Typically, most health care professionals are re-credentialed every three years,
depending on applicable state laws.
