A Fresh Initiative to Enhance Veterans’ Well-being
Humana Inc. (HUM) has initiated a groundbreaking collaboration with the digital health company DUOS to introduce a program aimed at fostering better health outcomes for Veteran members in Louisiana enrolled in a Medicare Advantage plan. Launched this month, this transformative initiative will continue until the conclusion of 2024.
Empowering Veterans with Tailored Care
The program targets Veterans battling chronic diseases, offering them a comprehensive health evaluation to discern their specific needs and aspirations. Subsequently, DUOS will link these Medicare Advantage beneficiaries with customized services accessible through their Medicare Advantage plan and Veterans’ benefits, enhancing their overall healthcare journey.
Cultural Sensitivity and Expertise
In a bid to bridge the gap and attune to the cultural nuances of military and Veteran communities, Humana’s partner, USAA, has meticulously trained DUOS personal assistants before the program’s implementation. This cultural competency equips healthcare providers to deliver personalized care while fostering patient engagement, adherence to treatment plans, and open communication regarding health concerns.
Strategic Collaborations for Long-term Success
Humana currently serves approximately 6 million military personnel and retirees throughout the United States. This recent alliance with DUOS signals a strategic move to enrich its Medicare Advantage plans. By leveraging partnerships like USAA, which played a pivotal role in training DUOS assistants, Humana is poised to cater more effectively to the diverse healthcare needs of U.S. Veterans and their families.
These synergistic efforts may not only nurture customer loyalty but also attract new clientele to Humana’s individual Medicare Advantage segment. This strategic focus holds promise for amplifying medical membership growth and bolstering premium revenues for Humana, particularly given the segment’s substantial contribution to the company’s total premiums.
Prospects and Path Forward
Humana foresees robust growth in its individual Medicare Advantage business, projecting an incremental addition of around 100,000 members in 2024. The company recently sealed a value-based care partnership with the esteemed U.S. kidney care provider, Strive Health, to furnish top-notch kidney care services to its Medicare Advantage members.
Despite shares of Humana declining by 24% year-to-date in comparison to the industry’s 3.2% decrease, the company remains optimistic about its strategic endeavors and commitment to enhancing healthcare accessibility for Veterans.
