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Magellan (MGLN) Unit to Unveil Wellbeing Program for Members

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Magellan Health, Inc.’s MGLN behavioral health unit, Magellan Healthcare, recently announced that it is introducing a Digital Emotional Wellbeing program from Jan 1 of 2022. The move intends to offer an enhanced wellbeing solution to MGLN’s members utilizing the app and website of the digital health company, NeuroFlow.

It is worth mentioning that this is not the first time that Magellan has collaborated with NeuroFlow to introduce a high-tech solution. In October 2021, Magellan Healthcare had collaborated with NeuroFlow to launch a collaborative care management solution that aims to ease the behavioral health treatment process.

Utilizing NeuroFlow’s behavioral health platform, the new program integrates evidence-based resources and clinical assistance of Magellan with NeuroFlow's cloud-based platform and established engagement approach. Thus, MGLN members suffering from emotional anxieties will have access to numerous activities ranging from evidence-based videos, articles and behavioral trackers to the digital cognitive behavioral therapy programs (“DCBTs”) of Magellan.

The varied set of activities offered through the program, which is a measurement-based approach to care, will extract tailored, appropriate and self-directed behavioral health resources, tools as well as support from NeuroFlow’s platform. With the help of such activities, participating members can personally manage their stress and thereby bring about improved health outcomes.

The latest initiative of Magellan reinforces the company’s constant efforts to strengthen its behavioral healthcare services portfolio and nationwide presence. MGLN continues to partner with well-established healthcare providers for launching high-tech solutions. Similar to the recent development, MGLN partnered with another digital health company Duos in December 2021 to offer a solution for easing the independent living of older adults at homes. Collaborations with Livongo and Neuromotion are part of Magellan’s efforts to extend advanced solutions to its members.

A solid suite in place has yielded notable results for MGLN. While the company’s offerings reduced fear and panic for 57% of users as reported, 80% of them benefited from better sleep. Continued incidence of behavioral health issues throughout the United States is expected to sustain the solid demand for behavioral healthcare services, which provides Magellan the perfect opportunity to capitalize on.

The credibility of Magellan’s behavioral health capabilities can be substantiated by the fact that the healthcare provider Centene, which has been one of its long-time customers, selected the company for constructing one of the leading U.S. behavioral health platforms. To this end, CNC inked a merger deal with Magellan in the beginning of 2021, with the transaction estimated to close in the fourth quarter of this year. Per Centene’s management, the acquisition of Magellan is anticipated to add scale across CNC’s specialty care business.

Apart from Magellan, healthcare providers like HCA Healthcare, Inc. HCA, Acadia Healthcare Company, Inc. ACHC and Universal Health Services, Inc. UHS deliver upgraded behavioral healthcare services and are poised to capitalize on robust demand for these services.

HCA Healthcare operates as one of the leading U.S. acute care psychiatric providers. Behavioral healthcare services remain one of the fastest-growing business lines within HCA. Additionally, HCA Healthcare continues to team up with hospital affiliates for enhanced management of behavioral healthcare services.

Acadia Healthcare is a pure-play behavioral healthcare services provider in the United States. ACHC has been undertaking acquisitions or joint ventures for developing new facilities or increasing beds in existing facilities in order to address the rising demand for behavioral healthcare services. As of Sep 30, 2021, Acadia Healthcare operated 230 behavioral healthcare facilities across 40 states and Puerto Rico.

Backed by clinical resources and geographic presence, Universal Health Services enters into mutually beneficial collaborations with other healthcare systems. This has helped UHS in delivering enhanced and affordable behavioral healthcare services, thus resulting in better outcomes for patients. As of Sep 30, 2021, Universal Health Services operated 333 inpatient behavioral health care facilities and 15 outpatient behavioral health care facilities throughout the United States, the U.K. and Puerto Rico.

Shares of Magellan have gained 15.2% in a year compared with the industry’s growth of 40.8%.

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MGLN presently has a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

While shares of HCA Healthcare and Acadia Healthcare have gained 58.1% and 19.4%, respectively, in a year, Universal Health Services stock has lost 4% in the same time frame.

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Universal Health Services, Inc. (UHS) : Free Stock Analysis Report

HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report

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