CareSource: Dayton Success Story

Good News for Dayton!

Yellow Springs Dental Care @soundentistry in Yellow Springs, Ohio,is a provider of the dental care benefits administered by CareSource. In response to many requests, we are a Dentist Who Accepts CareSource Insurance. Their business has an interesting story to tell.

CareSource recently received the good news that Molina ( a Medicaid administration competitor of CareSource) had been de-selected  by the State of Ohio.  Molina's stock fell 27% as the news spread.

CareSource is a nonprofit managed health care plan headquartered in Dayton, Ohio. It is the largest Medicaid plan in Ohio and one of the largest in the United States. The company is contracted with the Ohio Department of Job and Family Services. CareSource has 900 employees with 800 in Dayton.

CareSource Building Exterior by Waltek Company

In 2009, The CareSource Management Group completed construction of a $55 million corporate headquarters  at the corner of Main Street and Monument Avenue in downtown Dayton.The 300,000-square-foot, 9-story building is down town's first new office tower since before 2000. (from Wikipedia)

As the Caresource customer base of Medicaid Recipients expands, the company is creating new jobs in Downtown Dayton.  Those Medicaid members are among the highest users of health care services and the most costly
to the state Medicaid program, budgeted at $18.8 billion this fiscal year.

CareSource, which now covers about 10 percent of insured Ohioans and through November had 2011 revenues of $2.5 billion.

Of course, in a down economy, one business category that flourishes is Bankruptcy Law.  Recessions/Depressions produce a counter-cyclical boom in new business for Bankruptcy Attorneys.

CareSource is in a similar position of offering a service that enjoys growth during an economic meltdown.  CareSource manages the health care of the larger number of unemployed persons who become eligible for Medicaid assistance during the down turn.  For a number of months, CareSource has hired 20 or 30 new employees about every 10 days.  If you need a job and have the right skills, CareSource is hiring!

But, fortunately, CareSource’s future doesn’t depend on a perpetual bad economy.  ObamaCare will recast  Medicaid as the health insurance plan for all Americans, when the Affordable Care Health Reform law is finally fully activated, pending the determination by the Supreme Court of the United States, that the law is  permitted by the US Constitution.

The other recent development is the strategic partnership CareSource has forged with Humana Health.  The alliance between these two companies will expand the reach of CareSource to other states and redound to the growth of the Headquarters in Dayton.

All US health carewill administered by Medicaid under ObamaCare, after private health insurance companies have been disintermediated.   So, for the foreseeable future CareSource will be ramping up their Dayton employment to meet their enlarged role in administering health care and replacing, Aetna, Met-Life, Blue Cross, Blue Shield, Anthem, United Concordia, Delta Dental, Superior Dental, etc., etc.