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Humana Inc. HUM recently inked an in-network deal with Centura Health in Colorado Springs. Humana Medicare members will now have access to enhanced healthcare with this agreement, which will be effective Jan 1, 2021.
The company’s Medicare Advantage health maintenance organization (HMO) plan members will now be able to enjoy an in-network access to Centura Health’s Penrose-St. Francis Health Services. This, in turn, is expected to result in betterhealth outcomes.
Centura Health connects people across Colorado and western Kansas with more than 6,000 physicians, which makes it a perfect fit for Humana’s strategy to offer top-notch medical care to its members. Both companies have the same commitment to provide high-quality healthcare to people.
Scope of Medicare Business
Humana has been taking up several initiatives to provide in-network access to its Medicare Advantage members at various regions. It tied up with Grand View Health for allowing in-network access to Humana Medicare Advantage members in southeast Pennsylvania at the system’s Grand View Hospital and outpatient locations, and providing connection with the Grand View Health physicians. Last month, the company entered into 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 along with its outpatient facilities in the Southeastern New Jersey.
Recently, Humana also teamed up with the clinically-integrated physician and hospital network Rush Health as well as The Ohio State University Wexner Medical Center to enable access to better in-network medical care in the Chicago and Central Ohio areas, respectively, for the Humana Medicare Advantage members.
Further, it rolled out 2021 Medicare product offerings and improved benefits in more counties across the nation.
Notably, Humana’s Medicare business has been performing strongly from the past many quarters. This is evident from the 54% Medicare membership growth from 2013 to 2018. Although the same dipped 1% in 2019, Individual Medicare membership rose 17.1% year over year in the same time frame, which is a positive. The full-year individual Medicare Advantage membership is now anticipated to be around 330,000-360,000 members, up from the earlier projected range of 300,000-350,000 members. Over the past decade, the company saw maximum growth in Individual Medicare Advantage during 2019, which is pretty impressive.
We hope that all these initiatives poise the company well for growth as well as provide members with better health outcomes.
Zacks Rank and Price Performance
Shares of this currently Zacks Rank #2 (Buy) company have gained 65.5% in a year’s time, outperforming its industry’s growth of 35%. 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 rallied 42.1%, 19.7 % and 80.9%, respectively, in the same time frame.
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