| Revenues |
3. Revenues The Company is substantially dependent on revenues received under contracts with federal, state, and local government agencies. Operating funding sources are generally earned from Medicaid, Medicare, commercial insurance reimbursement, and private and other payors. There is no single customer whose revenue was 10% or more of our consolidated revenue. The following tables set forth revenue by payor type (in millions):
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Pharmacy Solutions |
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For the Years Ended December 31, |
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2025 |
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2024 |
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2023 |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Commercial insurance |
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$ |
3,114.6 |
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24.1 |
% |
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$ |
2,360.0 |
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23.4 |
% |
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$ |
1,657.7 |
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21.6 |
% |
Medicaid |
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1,093.2 |
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8.5 |
% |
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829.1 |
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8.2 |
% |
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656.1 |
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8.5 |
% |
Medicare Part A |
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572.8 |
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4.4 |
% |
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546.4 |
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5.4 |
% |
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549.3 |
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7.1 |
% |
Medicare Part B |
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76.4 |
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0.6 |
% |
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70.3 |
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0.7 |
% |
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61.2 |
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0.8 |
% |
Medicare Part C |
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2,277.5 |
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17.6 |
% |
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1,547.1 |
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15.4 |
% |
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1,384.3 |
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18.0 |
% |
Medicare Part D |
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4,097.8 |
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31.7 |
% |
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3,202.0 |
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31.8 |
% |
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2,031.9 |
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26.4 |
% |
Private & other |
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213.5 |
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1.8 |
% |
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199.4 |
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2.0 |
% |
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182.0 |
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2.4 |
% |
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$ |
11,445.8 |
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88.7 |
% |
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$ |
8,754.3 |
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86.9 |
% |
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$ |
6,522.5 |
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84.8 |
% |
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Provider Services |
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For the Years Ended December 31, |
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2025 |
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2024 |
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2023 |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Commercial insurance |
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$ |
188.7 |
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1.5 |
% |
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$ |
168.1 |
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1.7 |
% |
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$ |
152.5 |
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2.0 |
% |
Medicaid |
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402.0 |
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3.1 |
% |
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337.4 |
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3.3 |
% |
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323.0 |
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4.2 |
% |
Medicare Part A |
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521.5 |
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4.0 |
% |
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453.2 |
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4.5 |
% |
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409.3 |
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5.3 |
% |
Medicare Part B |
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6.4 |
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0.0 |
% |
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25.6 |
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0.3 |
% |
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21.6 |
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0.3 |
% |
Medicare Part C |
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135.6 |
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1.1 |
% |
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117.9 |
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1.2 |
% |
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66.1 |
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0.9 |
% |
Private & other |
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210.6 |
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1.6 |
% |
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215.7 |
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2.1 |
% |
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196.0 |
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2.5 |
% |
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$ |
1,464.8 |
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11.3 |
% |
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$ |
1,317.9 |
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13.1 |
% |
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$ |
1,168.5 |
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15.2 |
% |
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Consolidated |
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For the Years Ended December 31, |
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2025 |
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2024 |
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2023 |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Revenue |
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% of Revenue |
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Commercial insurance |
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$ |
3,303.3 |
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25.6 |
% |
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$ |
2,528.1 |
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25.1 |
% |
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$ |
1,810.2 |
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23.6 |
% |
Medicaid |
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1,495.2 |
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11.6 |
% |
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1,166.5 |
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11.5 |
% |
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979.1 |
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12.7 |
% |
Medicare Part A |
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1,094.3 |
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8.4 |
% |
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999.6 |
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9.9 |
% |
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958.6 |
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12.4 |
% |
Medicare Part B |
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82.8 |
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0.6 |
% |
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95.9 |
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1.0 |
% |
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82.8 |
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1.1 |
% |
Medicare Part C |
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2,413.1 |
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18.7 |
% |
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1,665.0 |
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16.6 |
% |
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1,450.4 |
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18.9 |
% |
Medicare Part D |
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4,097.8 |
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31.7 |
% |
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3,202.0 |
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31.8 |
% |
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2,031.9 |
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26.4 |
% |
Private & other |
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424.1 |
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3.4 |
% |
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415.1 |
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4.1 |
% |
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378.0 |
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4.9 |
% |
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$ |
12,910.6 |
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100.0 |
% |
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$ |
10,072.2 |
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100.0 |
% |
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$ |
7,691.0 |
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100.0 |
% |
Refer to Note 17 for the disaggregation of revenues by segment.
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