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UnitedHealth Group Incorporated’s UNH business, UnitedHealthcare, recently introduced teledentistry services in a bid to offer enhanced oral care to members. This initiative is part of the company’s UnitedHealthcare Dental program. Enrollees of the company’s fully insured employer-sponsored, Medicare Advantage and select Medicaid can have access to the teledentistry option.
The move has been primarily initiated to curb emergency room (ER) visits related to dental issues, which can be avoided. This announcement comes at an opportune time as the United States is reeling under the impact of the coronavirus pandemic. Despite the fact that some dental care centres have opened again taking several precautionary measures, teledentistry will provide members with access to numerous dental personnel from the security of their home. This, in turn, will solve the oral health issues of its members as well.
Moreover, the dental network of UnitedHealthcare has always been strong. It encompasses nearly 120,000 dental professionals to cater to needs of more than 13 million people enrolled in the company’s employer-sponsored, Medicare and Medicaid plans.
Shares of this Zacks Rank #3 (Hold) healthcare provider have gained 16.8% in a year compared with the industry’s growth of 10.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Notably, UnitedHealthcare has always been striving to enhance its dental products and services, while simultaneously looking for ways to reduce costs for members. Apart from the teledentistry launch, the company has also offered a 50% rebate on the premiums paid by the employers with fully insured UnitedHealthcare group dental benefits. This reduction is applicable for the month of July, which will definitely offer financial relief to members who are plagued with pandemic-induced financial woes.
Moreover, UnitedHealth Group has been making every effort to serve people across the United States amid the pandemic. Such constant efforts have made it one of the five healthcare providers selected by the Commonwealth of Kentucky for serving Medicaid members in Kentucky. The other four healthcare providers with which the Commonwealth of Kentucky has collaborated are Aetna, a subsidiary of CVS Health Corporation CVS, Humana Inc. HUM, Molina Healthcare, Inc. MOH and WellCare Health Plans, Inc.
Apart from oral health improvements, the company has also been making efforts to improve the eye health of its members. Its network deal with GlassesUSA.com — an online eyewear retailer — last month is testament to the same.
Furthermore, the company has always emphasized on the need for adopting telehealth services amid the pandemic. This positions UnitedHealth Group well for growth considering the growing demand for telehealth services during this dismal period. Enhanced telehealth capabilities have enabled the homebound American populace to seek medical expertise virtually. This, in turn, has spurred demand for the telehealth market eventually. Per research reports by Arizton, the U.S. telehealth market is projected to witness a CAGR of 30% during the 2019-2025 period.
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UnitedHealth Group Incorporated (UNH) : Free Stock Analysis Report
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