Humana Inc. (HUM - Free Report) recently entered into a multi-year agreement with global Customer Relationship Management (CRM) leader Salesforce to provide comprehensive, personalized healthcare services to its members.
Leading health insurer Humana is utilizing Salesforce Health Cloud to help power its Enterprise Clinical Operating Model (ECOM), which is a new care management technology platform that will lead to a seamless, integrated care coordination among its members, care teams and provider communities.
Rationale Behind the Deal
People are now availing of healthcare services via virtual visits, home health solutions, etc. This is the reason why Humana is focusing on a care coordination platform that will allow its multidisciplinary team to meet the members’ needs, thereby boosting enriched care.
Salesforce is a leader in CRM, which has been helping companies get closer to their customers in this digital age. Humana is one of the many insurers that has been deploying Saleforce’s Health cloud, which was launched in 2016.
The health sector is Salesforce’s one of the key targets wherein the United States government spent more than $3.5 trillion on healthcare in 2018. This industry is also welcoming digital transformation like never before.
Patients will also be able to gain traction from simplified healthcare experiences. Leveraging Salesforce-owned Mulesoft for API-led connectivity, the platform will lend a single, comprehensive view of a particular patient’s clinical history to the care teams. It will also provide information related to social, environmental and lifestyle factors that can impact the member’s health.
Moreover, Humana and Salesforce will coordinate the launch of a Healthcare Innovation Lab, based in Humana's Boston studio_h. Both companies will focus on solving the current healthcare challenges here.
Zacks Rank and Price Performance
Shares of this presently Zacks Rank #2 (Buy) company have surged 57.2% in a year’s time compared with the industry’s rally of 30.1%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The price performance looks stronger than other companies’ stock movements in the same space, such as Centene Corporation (CNC - Free Report) , Anthem Inc. (ANTM - Free Report) and The Joint Corp (JYNT - Free Report) which have gained 35.9%, 11.5% and 3.8%, respectively, in the same time frame.
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