Humana Inc. HUM recently expanded its value-based programs with the launch of two national programs for members of certain Humana Medicare Advantage (MA) plans. The health insurance giant came up with programs to cover coronary artery bypass grafting and total shoulder replacement procedures.
The Coronary Artery Bypass Grafting (CABG) model is aimed at improving the quality of healthcare as well as reducing expenses. With the unveiling of this program, Humana is able to help patients with data and analytics, and financially incentivize cardiothoracic clinicians who aim to provide better services.
The plan is also expected to curb duplicative services. The inaugural participants in the program include facilities in Alabama, Florida, Tennessee, Texas and West Virginia.
Moreover, the company announced its first orthopedic payment program for the members of specified Humana plans who are undergoing total shoulder arthroplasty. The surgery is generally done for patients with arthritis or rotator cuff problems. The shoulder program also provides clinicians with data and analytics plus offers incentives for better health outcomes besides lowering expenses from the site of care selection. Its initial facility participants in the program are located in Florida, Indiana, Kentucky, Ohio, North Carolina and Tennessee.
These value-based models are part of Humana’s portfolio of payment models. The company realized significant cost savings through its value-based MA arrangements with providers.
All these programs are designed for more personalized care that is tailor-made for individual health situation, better care for patients with chronic health conditions, easy access to proactive health programs and screenings, usage of technologies, such as data analytics, etc.
Humana boasts a wide value-based care presence. As of Jun 30, 2020, the company had more than 2.6 million individual Medicare Advantage and commercial members in more than 1,000 value-based relationships across 43 states and Puerto Rico. It has a total Medicare Advantage membership of 4.5 million.
Zacks Rank and Price Performance
Shares of this presently Zacks Rank #2 (Buy) company have surged 47.7% in a year’s time compared with the industry’s rally of 22.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The price performance looks stronger than other companies’ stock movements in the same space, such as Centene Corporation CNC, Anthem Inc. ANTM and The Joint Corp JYNT, which have gained 35.9%, 11.5% and 3.8%, respectively, in the same time frame.
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