Humana Inc. (NYSE: HUM) hopes that over the next few years, more of its members will use all three of its healthcare service arms to increase margins and revenue. This plan includes CenterWell Home Health.
If CenterWell Primary Care continues to grow at this rapid rate, CenterWell Home Health’s footprint will undoubtedly grow with it, Humana CFO Susan Diamond said during the JP Morgan Healthcare Conference.
“If you can make the primary care grow, they sort of hold the strings for so many other possibilities,” Diamond said. “They can sign up and contact CenterWell Pharmacy, they can sign up and contact CenterWell Home Health. We’re going to introduce the value-based model, and that’s bound to bring more people into it [home health] model, but what we really want to see is ours [primary care] Physicians working with our home health care facilities to ask, “When you were treating my patients, why were you seeing readmissions? What is needed?'”
Humana’s healthcare business — CenterWell Home Health, formerly Kindred at Home — has over 350 locations in 38 states.
Today, Humana has approximately 700,000 members insured under its values-based home healthcare model, representing approximately 14% of its member population. Diamond believes the company is on track to meet its goal of having 50% of members on this model in the next few years.
As part of Humana’s growth strategy, the company hopes to improve its own understanding of what is causing some of the negative outcomes for patients in primary care and how the company can integrate services under its own umbrella.
“While we don’t have much to share yet, as we think about the next few years, as we have more patients using multiple services and we improve our learning, we will be able to share with you the results we are demonstrating.” can,” said Diamond. “Both in terms of lowering the overall cost of care and readmissions, and simply deeper engagement.”
Which, according to Diamond, should result in better STAR ratings, better revenue, higher retention rates, and other positive benefits for the company and its members.
During an update following Humana’s fourth-quarter earnings call, Diamond also highlighted the 500,000 new members Humana added during the annual Medicare enrollment period and an updated forecast growth of at least 625,000 MA members, which is 13.6% year over year corresponds to -annual increase.