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Humana (HUM) Ties Up to Boost Presence Across West Virginia

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Humana Inc. HUM recently inked an agreement with Huntington-based St. Mary’s Medical Center to broaden local access to in-network and provide improved health outcomes for Humana Medicare Advantage members. Notably, St. Mary’s Medical Center, which comprises 393 beds, has been a leading health care facility in West Virginia.

The deal, which has come into force, is meant to benefit members of Humana’s Medicare Advantage Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and Private Fee-for Service (PFFS) health plans residing across the greater Huntington Tri-State area.

Through the deal, the abovementioned members can avail the diverse range of inpatient and outpatient services offered by St. Mary’s. This, in turn, is likely to result in enhanced health outcomes for Humana Medicare Advantage members across the Tri-State region. This is in line with Humana’s endeavor to provide enhanced health care services across regions where their members reside.

Moreover, the latest move seems to be time opportune as the entire United States is grappling with health woes induced by the COVID-19 pandemic. Moreover, St Mary’s seems to be a suitable partner for strengthening Humana’s presence in the state of West Virginia as both strive to provide quality health care to the community being served by them.

Further, St Mary’s has an impressive track record of effectively catering to its areas of operations for around 100 years. The health care facility also forms part of the Mountain Health Network, which is a not-for-profit health delivery system catering to diverse health needs of children and adults in 23 counties across West Virginia, southern Ohio and eastern Kentucky.

Humana had made efforts to strengthen presence across West Virginia previously as well. This October, the health care provider joined forces with Cohere Health for utilizing the CohereNext Platform by virtue of which physicians will be able to deliver improved quality care across several U.S. states with West Virginia being one.

Shares of this Zacks Rank #4 (Sell) health care provider have gained 18.4% in a year compared with the industry’s growth of 14.3%.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It is worth mentioning that the company has been undertaking a plethora of measures from September of this year to extend the reach of its Medicare Advantage plans across the United States. Humana seems relentless in its pursuit of bolstering nationwide presence. This month itself, the company has inked a value-based care deal with St. Luke’s Health Partners, which is likely to provide better health outcomes in Idaho.

Some of the notable tie-ups undertaken by Humana in last month include those with Vancouver Clinic, which aims to not only strengthen the value-based relationship shared between the two health care providers but also anticipates to offer improved health outcomes across Clark County. The company has also teamed up with Envision Healthcare last month to provide enhanced health outcomes for Humana’s commercial, Medicare and Medicaid members in Florida.

Furthermore, the health care provider boasts of a strong Medicare business, which has been witnessing growing membership for quite some time. The business remains well poised to benefit through constant partnerships and extension of product offerings devised per needs of several communities it serves.

An aging population has further led to a spur in the demand for Medicare Advantage plans, which places Humana well for long-term growth. Humana has also rolled out a host of 2021 Medicare product offerings, which will not only enable the company to provide enhanced health care services but also allow it to foray into areas not delved before thereby broadening its U.S. footprint.

Other health care providers, such as Centene Corporation CNC, UnitedHealth Group Incorporated UNH and Cigna Corporation CI, have also rolled out their 2021 Medicare Advantage plans on the back of growing potential of the Medicare business.

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UnitedHealth Group Incorporated (UNH) : Free Stock Analysis Report
 
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