Humana Improves Health and Reduces $3.5 Billion in Health Care Costs through Medicare Advantage Value-Based Care Programs
Helping people living with multiple chronic conditions achieve their optimal whole-person health has been a strategic initiative for Humana Inc. (NYSE: HUM). Today, Humana announced that the company has lowered overall health care costs and helped deliver improved health outcomes for Humana’s Medicare Advantage beneficiaries affiliated with primary care physicians in value-based payment models, which represents 67% of Humana’s total individual MA plan beneficiaries in 2018.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191121005313/en/
The physician-authored annual Humana Value-based Care Report, which can be accessed by clicking here, details how Humana uses its holistic approach to help beneficiaries facing numerous medical and social health challenges. For example, 82.6% of Humana Medicare Advantage members have at least two chronic conditions.
The report examines how Humana is supporting those Medicare Advantage members impacted by social determinants of health, such as food insecurity and social isolation. The report also explores how physicians are engaging and supporting patients in promoting healthier behaviors such as medication adherence and meeting specified clinical goals.
This is the third year that the company has issued the annual report and the sixth for reporting on health, quality and costs results for its Medicare Advantage beneficiaries affiliated with physicians in value-based payment models.
“What excites us most about these results is what they say about how we’re helping seniors improve their health, while also helping them better afford the care they receive,” said Humana President and CEO Bruce Broussard. “Our members count on us every day to improve their overall health care experience, and we are doing that. At the same time, as these results demonstrate, we’re getting better at supporting doctors, nurses and other care providers in their work to help people live healthier lives. In 2020 and beyond, we will keep at this.”
The potential of the value-based payment model was cited in a Humana study that appeared in October in the Journal of the American Medical Association, which stated that value-based care could meaningfully reduce the $265.6 billion wasted annually that is attributed to administrative complexity, and facilitate the expansion of numerous integrated clinical models proven to improve care.