We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Humana (HUM) Extends Telehealth Services to Fight Coronavirus
Read MoreHide Full Article
Humana Inc. (HUM - Free Report) recently expanded the availability of telehealth services to reduce exposure to risks from the coronavirus outbreak. The World Health Organization-declared global pandemic already infected 375498 people to date across 196 countries or territories and took lives of 16362 patients.
Rationale Behind the Initiative
In these critical times, Humana continues to help its members with an array of added affordable and feasible services, which include early prescription refills, wider coverage of telehealth visits for urgent healthcare, etc.
These endeavors by the company are expected to meet or exceed guidance provided by regulatory agencies at the state and federal levels including the Centers for Medicare and Medicaid Services (CMS).
The provisions are applicable to the company’s Medicare Advantage, Medicaid and commercial employer-sponsored plans. The steps include expansion of member cost share waivers for telehealth services, expansion of telehealth service scope and reimbursement rules along with telehealth channels, etc.
Earlier, the company declared its measures to fight the COVID-19 outbreak, such as waiving the out-of-pocket costs for COVID-19 test, allowing early prescription refills so that patients can prepare for additional supply requirements and providing a support line with trained call centre staff to help members with coronavirus-related queries and concerns.
Growth of Telehealth Services
The coronavirus outbreak brought telehealth services to the limelight. Despite the U.S. government’s measures to make telemedicine mainstream for the past few years, primarily to minimize healthcare costs and increase access of care, the sector is yet to receive mass acceptance. Nevertheless, post the COVID-19 outbreak, the situation looks drastically changed.
This breakthrough is evident as another health insurer Anthem Inc. is appointing more doctors for its online service, LiveHealth Online. UnitedHealth Group Incorporated (UNH - Free Report) also declared that its services are available for taking virtual consultations. Magellan Health, Inc.’s behavioral and specialty healthcare segment also extended its telehealth services and other initiatives to aid clients amid the coronavirus outbreak.
In fact, the Trump administration announced an unprecedented expansion of telehealth services for seniors to combat the risk of spreading the novel coronavirus.
Per a TIME report, “If extreme measures like mass quarantines come to pass, telehealth could finally have its bittersweet moment in the spotlight, potentially generating momentum that proponents hope will continue once life returns to normal.”
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Humana (HUM) Extends Telehealth Services to Fight Coronavirus
Humana Inc. (HUM - Free Report) recently expanded the availability of telehealth services to reduce exposure to risks from the coronavirus outbreak. The World Health Organization-declared global pandemic already infected 375498 people to date across 196 countries or territories and took lives of 16362 patients.
Rationale Behind the Initiative
In these critical times, Humana continues to help its members with an array of added affordable and feasible services, which include early prescription refills, wider coverage of telehealth visits for urgent healthcare, etc.
These endeavors by the company are expected to meet or exceed guidance provided by regulatory agencies at the state and federal levels including the Centers for Medicare and Medicaid Services (CMS).
The provisions are applicable to the company’s Medicare Advantage, Medicaid and commercial employer-sponsored plans. The steps include expansion of member cost share waivers for telehealth services, expansion of telehealth service scope and reimbursement rules along with telehealth channels, etc.
Earlier, the company declared its measures to fight the COVID-19 outbreak, such as waiving the out-of-pocket costs for COVID-19 test, allowing early prescription refills so that patients can prepare for additional supply requirements and providing a support line with trained call centre staff to help members with coronavirus-related queries and concerns.
Growth of Telehealth Services
The coronavirus outbreak brought telehealth services to the limelight. Despite the U.S. government’s measures to make telemedicine mainstream for the past few years, primarily to minimize healthcare costs and increase access of care, the sector is yet to receive mass acceptance. Nevertheless, post the COVID-19 outbreak, the situation looks drastically changed.
This breakthrough is evident as another health insurer Anthem Inc. is appointing more doctors for its online service, LiveHealth Online. UnitedHealth Group Incorporated (UNH - Free Report) also declared that its services are available for taking virtual consultations. Magellan Health, Inc.’s behavioral and specialty healthcare segment also extended its telehealth services and other initiatives to aid clients amid the coronavirus outbreak.
In fact, the Trump administration announced an unprecedented expansion of telehealth services for seniors to combat the risk of spreading the novel coronavirus.
Per a TIME report, “If extreme measures like mass quarantines come to pass, telehealth could finally have its bittersweet moment in the spotlight, potentially generating momentum that proponents hope will continue once life returns to normal.”
Shares of this Zacks Rank #3 (Hold) company have lost 10.9% in a year's time, narrower than its industry's decline of 14.9%.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>