Humana Inc. reports news around its U.S. healthcare business, combining Humana insurance services with CenterWell healthcare services. Company updates commonly address Medicare Advantage and other health plan membership, Insurance segment benefit ratios, GAAP and adjusted earnings, full-year guidance, and capital returns through quarterly dividends.
News also covers CenterWell's senior-focused primary care, home health, pharmacy, hospice and retail pharmacy activities; prescription access and home delivery partnerships; healthcare research tied to medication adherence and chronic disease care; palliative care arrangements; health data interoperability; and board refreshment or other governance actions.
Humana Inc. (NYSE: HUM) reported significant financial results for 3Q20, with GAAP revenues rising to $20.08 billion, up from $16.24 billion in 3Q19. The company achieved diluted EPS of $10.05 compared to $5.14 last year. Key drivers included increased member utilization and crisis relief efforts during the COVID-19 pandemic. Humana now expects FY20 GAAP EPS of $24.70 to $24.95 and Adjusted EPS of $18.50 to $18.75, slightly raising previous guidance. Membership growth is projected at 375,000 members, a 10% increase year-over-year.
Humana Inc. (NYSE: HUM) has announced a new value-based care agreement with Southwestern Health Resources (SWHR) to enhance services for Medicare Advantage HMO members in North Texas. The deal, effective January 1, 2021, builds on an existing contract, allowing access to around 30 hospitals and 350 points of care. This partnership emphasizes personalized care, proactive health screenings, and improved management of chronic conditions. Humana's commitment to value-based care is backed by its extensive network, serving over 2.6 million members through 66,000 primary care physicians nationwide.
Humana Inc. (NYSE: HUM) has announced an in-network agreement with UCHealth University of Colorado Hospital for its Medicare Advantage PPO and HMO plan members. This agreement, effective January 1, 2021, allows access to 11 UCHealth hospitals in Colorado, enhancing service for Humana members. Leaders from both organizations emphasize the commitment to quality care and cost reduction, leveraging UCHealth's reputation for advanced treatments and excellent patient outcomes. This partnership aims to promote healthier lifestyles among members while containing healthcare costs.
Humana Inc. (NYSE: HUM) has entered into a Medicare network agreement with Primary Care Partners, effective January 1, 2021. This partnership allows Humana Medicare Advantage PPO members to access all Primary Care Partners providers in Grand Junction and Fruita. Both companies expressed enthusiasm for the collaboration, which aims to enhance care accessibility for patients. Humana emphasizes its commitment to integrated care, aiming to improve health outcomes while lowering costs for members.
Humana Inc. (NYSE: HUM) has announced a $5 million investment in an outcomes-based fund to enhance the Family Focused Recovery program operated by Volunteers of America (VOA). This initiative aims to support mothers with substance use disorders and their children, reflecting Humana's commitment to innovative care models. The program combines addiction treatment with family support to improve recovery success. In collaboration with Quantified Ventures, Humana aims to expand VOA's reach and effectiveness, addressing the increasing demand for community-based health services.
Cohere Health has partnered with Humana (NYSE: HUM) to enhance the prior authorization process for musculoskeletal treatment across 12 states, starting January 1, 2021. Utilizing the CohereNext Platform, the partnership aims to streamline authorizations and improve healthcare experiences for around 2 million members and over 3,500 physician practices. This initiative focuses on reducing administrative burdens while enhancing evidence-based treatment options, supporting Humana's vision for modern, efficient healthcare delivery.
Humana Inc. (NYSE: HUM) has entered into an in-network agreement with University Medical Center New Orleans, expanding access to care for its Medicare Advantage members. From January 1, 2021, members of plans including Humana Gold Plus (HMO) and Humana Choice (PPO) will benefit from this partnership, enhancing their healthcare options. University Medical Center, a Level 1 Trauma Center in southern Louisiana, aims to provide high-quality care to more patients in the community. This collaboration signals Humana's commitment to enhancing care accessibility in the Greater New Orleans area.
Humana Inc. (NYSE: HUM) has partnered with Disabled American Veterans (DAV) as their exclusive national Medicare Advantage, PDP, and Medicare Supplement sponsor. This collaboration aims to enhance veterans' access to healthcare services, empowering them to live healthy lives. Humana's plans include specific offerings like the Humana Honor plan, tailored for veterans, and initiatives addressing social determinants of health. The partnership will also involve jointly organized health-related programs. The relationship was inaugurated with the 2020 DAV 5K event, underscoring Humana's commitment to veterans' well-being.
Humana Inc. (NYSE: HUM) is expanding its Medicare Advantage offerings in Tennessee by introducing a new Health Maintenance Organization (HMO) plan in 31 rural counties including Knoxville, Memphis, and Nashville. The new plan, featuring a $0 premium and low copays, will be available during the Medicare Annual Election Period from Oct. 15 to Dec. 7, 2020, for coverage starting Jan. 1, 2021. Humana is also offering its Humana Honor plan statewide, which can complement VA benefits for military veterans. These efforts aim to enhance healthcare access for Tennesseans.
Humana Inc. (NYSE: HUM) has expanded its preferred stand-alone Medicare Part D pharmacy network for 2021, now including Kroger Health, Costco, Publix, and HEB. This addition increases the number of participating pharmacies to nearly 9,500, allowing members to enjoy lower out-of-pocket costs on prescriptions. Effective January 1, 2021, this move aligns with Humana's commitment to improving healthcare accessibility and personalizing the member experience, as stated by Senior VP Susan Smith.