Elevance Health

American health insurance provider, serves people across their entire health journey taking an integrated whole-health approach.

Categories

Financial and Banking  
Pharma and Life Sciences  

#132

Rank

$102.51B

MarketCap US

US United States

Country

Summary

Elevance Health is a health technology company that provides a comprehensive suite of digital health services for individuals, health systems, payers, and employers. Its mission is to help people lead healthier lives by providing comprehensive, personalized, and evidence-based care to the underserved and marginalized.

Elevance Health uses an integrated whole-health approach to help people in their health journey and address their full range of needs. Elevance Health is a health company dedicated to making real progress toward improving the health of the people and communities it serves. The company aims to become a lifetime trusted health partner. Elevance Health was previously known as Anthem, Inc.

Elevance Health's digital health services include telehealth, health coaching, health education, and digital health management tools. Its services are designed to improve access to quality healthcare, reduce health-related costs, and improve health outcomes.

Elevance Health works with partners to offer a range of services tailored to meet the specific needs of each organization. Its services are designed to improve access to care, reduce health-related costs, and improve health outcomes. The company also offers an innovative health coaching program that helps individuals create positive lifestyle changes and improve their overall health.

On June 28, 2022, Anthem announced a change of its corporate name to Elevance Health, Inc. and also changed its stock ticker symbol from "ANTM" to “ELV”


History

Anthem Inc. was a health insurance company that was founded in the United States in 1944. The company was originally known as Blue Cross of Indiana and was created as a nonprofit organization by a group of hospital and physician leaders in Indianapolis.

The original purpose of the Blue Cross of Indiana was to provide affordable health insurance coverage to residents of Indiana, who were struggling to pay for medical care during World War II. The company's name was later changed to Blue Cross Blue Shield of Indiana when it merged with Blue Shield of California in 1985.

In the 1960s, Blue Cross Blue Shield of Indiana began to offer new health insurance products to its customers, such as group health plans and Medicare supplement plans. The company also expanded its network of healthcare providers, working with hospitals and physicians across the country to offer more comprehensive coverage to its members.

During the 1970s, Blue Cross Blue Shield of Indiana faced several challenges, including rising healthcare costs and increased competition from other health insurance companies. To address these challenges, the company began to focus on cost containment and efficiency, introducing new programs to help members manage their healthcare costs.

One of the key initiatives introduced by Blue Cross Blue Shield of Indiana during this time was the development of health maintenance organizations (HMOs). HMOs were a new type of health insurance plan that offered a more comprehensive approach to healthcare, including preventive care and wellness programs. Blue Cross Blue Shield of Indiana was one of the first health insurance companies to offer HMO plans to its customers.

In 1993, the company changed its name again to WellPoint Health Networks Inc. after merging with WellPoint Systems Inc. The merger brought together Blue Cross Blue Shield plans from several states, including Indiana, California, Ohio, and Kentucky, and created one of the largest health insurance companies in the country.

WellPoint also continued to innovate and expand its services during the 1990s, introducing new programs and technologies to help customers manage their healthcare costs and improve their overall health. One of the key initiatives introduced by WellPoint during this time was the development of disease management programs, which helped members with chronic conditions such as diabetes and heart disease to manage their conditions more effectively and reduce their healthcare costs.

WellPoint Health Networks Inc. continued to grow through acquisitions and mergers, acquiring several other health insurance companies, such as Amerigroup, CareMore, and HealthSun, among others. In 2014, the company officially changed its name to Anthem Inc., a name that better reflected its primary brand and market position. Today, Anthem Inc. is one of the largest health insurance companies in the United States, providing health insurance coverage to more than 106 million people across the country. The company offers a range of health insurance products, including individual and group plans, Medicare, and Medicaid plans, as well as dental, vision, and life insurance.

On June 28, 2022, Anthem announced a change of its corporate name to Elevance Health, Inc. and also changed its stock ticker symbol from "ANTM" to "ELV"

Elevance Health's mission is to leverage the power of data and technology to empower patients and clinicians to make informed decisions and provide better care. The company creates innovative tools and services to improve the quality of care and reduce the cost of healthcare.

 In 2016, Elevance Health released its first product, an AI-based predictive analytics platform that helps health systems identify patients at risk of developing chronic diseases. The platform was initially piloted by one of the largest integrated health systems in the US.

In 2018, Elevance Health raised $12 million in Series A funding from a number of venture capital firms. This allowed the company to expand its predictive analytics platform and develop new healthcare delivery solutions. In 2019, Elevance Health launched its second product, a patient engagement platform that helps health systems better engage with their patients. The platform uses AI to provide personalized recommendations and real-time feedback to patients, helping them stay on track with their health goals.

In 2020, Elevance Health announced the launch of its third product, a virtual care platform that helps health systems deliver quality care while reducing costs. The platform uses AI-driven virtual visits to provide personalized, real-time advice and support to patients. 

Elevance Health is focused on developing technology solutions that enable healthcare organizations to deliver better care at lower costs. The company's technology platform has several components that are designed to help healthcare organizations reduce the cost of care, improve the quality of care, and maximize patient engagement. Elevance Health has been recognized for its innovation in healthcare technology and has been recognized by several industry awards and publications. The company has been featured in Forbes, Fast Company, and other publications.


Mission

“Elevance Health's mission of improving lives and communities and expecting more is personified by our nearly 100,000 associates.”

“It is our privilege to reflect on the communities we serve. Elevance Health is reimagining the health system and taking a more holistic approach to improving outcomes, equity, and accessibility.”


Vision

Elevance Health's vision is “to create a world where everyone has access to the best healthcare possible.” 

They strive to do this by building a platform that allows people to easily access medical and health information, connect with healthcare providers, and use predictive analytics to make better healthcare decisions.

“Being a responsible corporate citizen means working to shape our company, our communities, and our world for the better.”


Key Team

Hakon Mattson (Chief Sustainability Officer)

Peter D. Haytaian (Executive Vice President, Elevance Health and President, Carelon)

Kyle Weber (Chief Strategy Officer)

Morgan Kendrick (Executive Vice President, Elevance Health and President, Commercial & Specialty Business Division)

Gail K. Boudreaux (President and Chief Executive Officer, Elevance Health)

John E. Gallina (Chief Financial Officer)

Gloria McCarthy (Chief Administrative Officer)

Felicia F. Norwood (President Government Business Division)

Blair Todt (Chief Legal Officer)

Dr. Shantanu Agrawal (Chief Health Officer)

Bill Beck (Chief Marketing Officer)

Dr. Darrell Gray (Chief Health Equity Officer)


Recognition and Awards
Elevance Health has been recognized as one of the “World's Most Admired Companies” by Fortune magazine, and has received awards for its programs and practices that improve health outcomes. Additionally, Elevance Health was awarded contracts to five insurers for 2024 in California's Medicaid managed care program

Products and Services

Elevance Health offers network-based managed health insurance plans to employers and individuals: 

  • Dental
  • Vision
  • Life
  • Disability 

References
Elevance Health
Leadership team

Gail K. Boudreaux (President and Chief Executive Officer, Elevance Health)

Morgan Kendrick (Executive Vice President, Elevance Health and President, Commercial & Specialty Business Division)

Peter D. Haytaian (Executive Vice President, Elevance Health and President, Carelon)

Industries

Financial and Banking

Pharma and Life Sciences

Products/ Services
Healthcare, Health insurance
Number of Employees
Above 50,000
Headquarters
Indianapolis, Indiana, USA
Established
2015
Company Type
Public Limited Company
Net Income
1B - 20B
Revenue
Above - 1B
Traded as
ELV
Social Media

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Fri Mar 01 2024
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