Yahoo Finance Humana's (HUM) CenterWell Sets Foot in Asheville With New Centers
Humana Inc.’s HUM brand CenterWell Senior Primary Care unveiled its expansion endeavor in Asheville through the opening of two senior-focused primary care centers. The unit already mentioned the North Carolina city as one of its targeted debut locations while unveiling its 2024 expansion plans at the beginning of the year.
Named CenterWell River Hills, the first center of Asheville is already operational and started accepting patients in April. Patients need to be enrolled in Original Medicare and Medicare Advantage plans, which is the criteria for admission in CenterWell locations across North Carolina.
The new center is equipped with board-certified physicians, nurse practitioners, medical assistants and operational support staff, who are well-trained to provide comprehensive care for addressing the extensive range of physical, social and emotional needs of the senior population. This whole-person approach followed by the CenterWell locations enables physicians and nurse practitioners to devote up to 50% more time to each patient than at the office of the traditional doctor.
Therefore, the recent announcement is expected to eliminate healthcare barriers in underserved areas and provide relief to the senior community of Asheville. In CenterWell North Carolina locations, patients can avail services provided by nurse care coordinators, behavioral health specialists, a clinical pharmacist and referral specialists.
Thereby, expansion plans similar to the latest one that result in a growing number of senior-focused primary care centers may attract more senior patients to avail the highly beneficial services suite of the CenterWell brand and drive revenues of the CenterWell segment. And to get access to such services, more individuals may be prompted to opt for Humana’s Medicare plans.
The resultant benefit of such enrollment may be reaped in the form of growing membership for Humana. Contract wins and renewals from federal and state authorities or fruitification of expansion plans continue to boost membership growth and fetch improved premiums, which remain the most significant contributor to a health insurer’s top line. As of Mar 31, the company’s Medicare Advantage membership improved 7.7% year over year.
CenterWell Senior Primary Care, along with Conviva Care Center, forms the Primary Care Organization of Humana, which served 318,000 seniors across roughly 300 centers as of Mar 31. The centers operate in 15 states and plans remain in place to open 30-50 new centers annually through 2025. An aging U.S. population also substantiates the timeliness of CenterWell’s promising expansion plans.
Shares of Humana have gained 1.2% in the past three months against the industry’s 1.4% decline. HUM currently carries a Zacks Rank #3 (Hold).
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