Humana Ties Up to Provide Improved Healthcare in Chicago
Humana Inc. HUM recently inked a deal with clinically-integrated physician and hospital network Rush Health to enhance access to better in-network medical care in the Chicago area for Humana Medicare Advantage members. However, terms of the agreement remained confidential. The deal will be effective Jan 1, 2021.
Details of the Deal
The deal provides in-network access for Humana Medicare Advantage Health Maintenance Organization (HMO), Preferred Provider Organization (PPO) and Private Fee-for-Service (PFFS) health plan members at Rush Health, which includes its flagship Rush University Medical Center in Chicago as well as the three suburban hospitals, namely Rush Copley Medical Center (Aurora), Rush Oak Park Hospital (Oak Park) and Riverside Medical Center (Kankakee).
This apart, Humana Medicare Advantage members will be able to seek care from Rush Health’s clinically integrated network of more than 1,800 providers.
The deal includes a value-based care pact with the providers for better healthcare and patient experiences. Rush Health is the perfect partner for this strategic action given its local history of around 200 years.
The move is appropriate during these unprecedented times when people are looking for quality healthcare. This deal will help members residing in the Chicago land area.
To that end, the company constantly takes up initiatives to mete out affordable services but with better quality.
Other Recent Initiatives
The company recently inked a deal with The Ohio State University Wexner Medical Center to expand access to in-network, improved medical care in Central Ohio for the Humana Medicare Advantage members.
Earlier this month, it expanded its value-based programs with the launch of two national programs for the members of certain Humana Medicare Advantage (MA) plans. The health insurance giant came up with projects covering coronary artery bypass grafting and total shoulder replacement procedures.
It also reached an agreement with integrated healthcare system AtlantiCare, which offers in-network access to Humana Medicare Advantage members. Patients can now avail of healthcare services on the system’s hospital campuses in Atlantic City and Pomona alongside its outpatient facilities in the Southeastern New Jersey.
Humana’s Medicare business has been showing strength over the past many quarters.
Its total Medicare Advantage membership is 4.5 million members, which includes members affiliated with providers in value-based and standard Medicare Advantage settings.
In the past decade, the company saw maximum growth in Individual Medicare Advantage during 2019, which is pretty impressive.
We expect this business line to continue performing well on the back of the company’s commitment to providing improved healthcare as well as constant initiatives.
Zacks Rank and Price Performance
Shares of this presently Zacks Rank #2 (Buy) company have surged 58.9% in a year’s time compared with the industry’s rally of 29.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The price performance looks stellar than the other companies’ stock movements in the same space, such as Centene Corporation CNC, Anthem Inc. ANTM and Molina Healthcare, Inc. MOH, which have gained 29.1%, 9.6% and 56.6%, respectively, in the same time frame.
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