Humana (HUM), League Tie Up for a Digital Health Platform
Humana Inc. HUM partnered with technology-focused health company League to introduce a novel digital health and benefits platform, which is expected to help a huge number of Humana Employer Group and Specialty insurance members.
This comprehensive and personalized solution will be deployed by Humana starting late 2021 and continuing throughout 2022 with phased launches across various markets. With its main objective to improve health outcomes, this is not the first time that the company collaborated for better digital transformation of people.
Notably, League will design and implement the platform by leveraging the health insurer’s systems. The partnership is aimed at connecting benefit information, health resources and support so that individuals can undergo a convenient experience.
Humana looks forward to empowering its members owing to AI-driven technology and next-generation personalization capabilities.
Previously, the company also announced a series of strategic moves to boost capabilities in the field of technology, digital health and analytics.
More and more medical care centers are opting for digital tools and platforms to offer a more enriching and personalized patient care as well as reduce chances of medical errors. Technology and innovation also bridge the gap between hospitals and members, connecting various constituencies in the healthcare system.
Health insurance players in the United States were slow to embrace digitization and are still behind other industries in their use of AI and automation but the coronavirus pandemic now accelerated this process.
Strong digital skills are a must have for the health insurers. Evidently, digital technology began redefining the health insurance markets. It is expected that the combo of analytics and digital health will help overcome all the barriers in this sector going forward.
The currently Zacks Rank #3 (Hold) company expects to develop an advanced capability with this effort, which will act as a giant leap in the direction of providing an improved and connected health care experience to its members. Blockchain and AI-driven technology have been revolutionising the health insurance sector over the past few years.
Companies like Centene Corporation CNC and Anthem Inc. ANTM have also been forging alliances for enhanced AI technology solutions that are aimed at better healthcare and comprehensive administrative activities. Last month, Anthem teamed up with Epic for a safe and seamless, bi-directional health information exchange between healthcare providers and the company’s affiliated health plans. The move is made at an opportune moment as better communication can lead to enhanced data-driven insights for improved health outcomes.
Also, UnitedHealth Group Incorporated UNH is constantly investing heavily in its technology platform to stay ahead of peer pressure in the rapidly-changing industry, which embraced technological innovations following the COVID-19 breakout.
In the past year, Humana has gained 10.6%, underperforming its industry’s growth of 35%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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