Well-being enhancement company,
) announced that it has extended its partnership with
customer-owned health insurance company, Health Care Service
Corporation ("HCSC") till 2015, effective immediately. The
extension of this long-term agreement reflects Healthways'
commitment toward its members.
As per the agreement, Healthways will offer its Prime Fitness
program to roughly 8 million HCSC commercial plan members. The
program provides convenient and flexible physical activities to
enhance the well-being of working individuals.
According to a research by Managed Care, medical expenses for
an individual fall by $2,202 every year with the increase of
physical activities to 3 times a week from none or once in a
week. The partnership will allow eligible HCSC members to access
8,000 fitness centers across the U.S. Members can log onto the
program website to locate participating venues. Moreover,
employers with an onsite corporate fitness center will be able to
keep a tab of its employees' performance.
The Healthways model encourages people to make favorable
lifestyle changes that lead to enhanced well-being, reduced
healthcare costs, improved performance and economic value for
customers. The company has invested in technology platforms that
provide scalable support with large populations. It has tie-ups
with a large proportion of U.S. health plans and counts millions
of lives in its customer base.
The company had inked 30 new, expanded or extended contracts
in the last reported quarter. This count included 12 fresh
contracts, 8 expanded and extended contracts and 10 extended
contracts. These contracts are spread across domestic as well as
Healthways is the leader in a strategically critical and
rapidly evolving part of the health care services market. Due to
its unique scalable business model, Healthways shares may present
a long-term investment opportunity, although it faces many
challenges in the short term. One of the primary competitors of
the company includes
Express Scripts Holding Company
Currently, Healthways retains a Zacks #3 Rank (Hold) for the
short term, which supports its Neutral recommendation for the
EXPRESS SCRIPTS (ESRX): Free Stock Analysis
HEALTHWAYS INC (HWAY): Free Stock Analysis
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