Humana's (HUM) Unit To Enter Atlanta to Serve Aging Population
Humana Inc.’s HUM brand CenterWell Senior Primary Care recently unveiled plans of establishing six senior-focused primary care centers across Atlanta. Five of these centers are expected to start operating between the mid-September 2021 and mid-January 2022 period. The sixth one is likely to open around Spring 2022.
Shares of Humana lost 0.4% on Jun 10, replicating decline in broader markets.
Notably, the company introduced the CenterWell brand in March 2021, through which it combined payer-agnostic senior-focused primary care facilities operating under the Partners in Primary Care and Family Physicians Group brands.
Prior to commencing operations, the centers will be backed with CareWell’s personalized and care-team strategy to offer enhanced healthcare services to senior patients across Atlanta. The six primary care locations will be equipped with board-certified physicians, nurses and behavioral health specialists. This, in turn, is likely to result in enhanced health outcomes for the growing aging population of the city.
Through the recent move, CenterWell will be able to foray into the Atlanta market for the first time.
It’s worth mentioning that CenterWell Senior Primary Care holds promising prospects. The rapidly expanding value-based care provider has intensified its focus on offering personalized and enhanced healthcare services to Humana’s Medicare Advantage members and Original Medicare beneficiaries. Through more than 65 centers, it has served around 57,000 patients.
Further, the brand has a robust pipeline of growth initiatives. Throughout the United States, the primary care provider either has not only inaugurated centers but also laid out plans for expanding across several regions. While 15 centers have been inaugurated under the brand during 2020, up to 20 centers are likely to be opened in 2021 and through early 2022.
Moreover, Humana owns a significant number of payer-agnostic senior-focused primary care centers, which is in line with its endeavor to treat the aging population. Another wholly-owned unit of Humana named Conviva has also remained committed to serving the aging population. These centers have been accelerating expansion initiatives for penetrating every corner of the United States including the underserved regions that are grappling with dearth of primary care for seniors. These moves, in turn, bolster the national footprint of Humana.
Furthermore, such expansion endeavors have been providing a boost to the robust performance of the company’s Medicare business. For 2021, the company expects growth in individual Medicare Advantage membership of around 425,000-475,000 members, suggesting growth of 11-12%.
Zacks Rank & Price Performance
Shares of this Zacks Rank #3 (Hold) healthcare provider have gained 11.2% in a year compared with the industry’s rally of 36%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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