Our Financials

For the eighth consecutive year, CenCal Health’s financial statements were reviewed and certified by an independent auditor without any findings, adjustments or corrections on a nearly $962 million in annual revenue during fiscal year 2020-21. The fiscal year included a net operating loss of $27.3 million.

One of the major contributions to the net loss was due to the state’s delay in their carve-out of pharmacy services from the Medi-Cal managed care health plans. The pharmacy revenue funding level was $7 million less than the actual pharmacy expenses.

CenCal Health manages funds efficiently, acutely aware of the fiduciary responsibility to the taxpayer and the regulatory agencies.  Once again, for this fiscal year, more than ninety cents of every dollar went directly to finance medical benefits and services provided to our members. Providing excellent, high-quality services to Medi-Cal members while being excellent stewards of taxpayer dollars is a top priority, even while adjusting to capitation rate reductions from the state.  In addition, in 2021, CenCal Health’s Finance department saved $3.1 million through recovering funds regarding duplicate billings and other adjudication errors. 

Starting January 2022, the health plan is anticipating receiving an increase in revenue from the state. We anticipate this will allow the health plan to operate at small monthly operating gains thereafter.