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Humana Inc. HUM has inked a value-based care deal with St. Luke’s Health Partners, which will benefit Humana Medicare Advantage HMO members. Terms of the deal, effective Jan 1, 2021, were kept under wraps.
With this deal, the leading health insurer will stay committed to value-based care, which focuses on more personal interaction with healthcare professionals and tailored care, access to proactive health screenings and programs aiming at preventive illness, better healthcare for patients with chronic situations, availability of technologies, such as data analytics, etc.
Humana believes that the deal will help provide better health outcomes in Idaho. The company has a growing value-based care presence.
Recently, it reinforced its value-based relationship with Vancouver Clinic by announcing the opening of Evergreen Place, which is run by the latter.
Notably, Humana has been intensifying its focus on providing value-based care across the United States. As a case in point, the company’s individual Medicare Advantage and commercial members are looked after by 67,000 primary care physicians, who are part of more than 1,000 value-based relationships, as of Sep 30, 2020.
The company took a host of measures for extending the reach of its Medicare Advantage plans in the country. Thus, it continues to ramp up efforts for bolstering its presence across the region.
Robust Medicare Business
Humana boasts a strong Medicare business, which has been witnessing growing membership for quite some time. It remains well-poised to benefit from a strong Medicare business through constant partnerships and extension of product offerings devised per needs of several communities it serves. The health care provider also intends to effectively serve newer Medicare markets.
In fact, Humana raised its expectation for full-year individual Medicare Advantage membership to be around 375,000 members from the prior range of 330,000-360,000 members. The new estimate reflects anticipated growth of around 10% year over year.
Furthermore, COVID- induced health woes and an aging population drove demand for the Medicare Advantage plans.
Humana intends to capitalize on the prevalent scenario as it rolled out a host of 2021 Medicare product offerings, such as Medicare Advantage and Prescription Drug Plans, to name a few.
Other companies, such as Centene Corporation CNC, UnitedHealth Group Incorporated UNH and Cigna Corporation CI have also unveiled their 2021 Medicare Advantage plans on the back of growing potential of the Medicare business.
Zacks Rank and Price Performance
Shares of this currently Zacks Rank #4 (Sell) company have rallied 17.9% in a year compared with the industry’s growth of 11.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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