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UnitedHealthcare (UNH) Expands Virtual Care to Hearing Aids
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UnitedHealthcare Group Inc. (UNH - Free Report) has introduced a virtual care model named Right2You, which will expand access to custom-programmed hearing aids.
Sales of hearing aids have taken a beating since the outbreak of COVID-19, which limited in-person sales. The aforementioned virtual service that requires people to first take an online hearing test and then to go for further medical action is likely to aid sales.
This virtual solution will curb the requirement of in-person appointments for fittings or adjustment to the hearing aids. Instead of follow-up adjustments and support via an in-person appointment, Right2You enables remote customization with a smartphone or a tablet paired up with the hearing aids.
Right2You will also be cost effective for customers as both general consumers and eligible UnitedHealthcare members will be able to potentially save 50-80% on custom-programed hearing aids compared to the traditional models.
This service will likely help the company serve 48 million Americans who suffer hearing impairment.
UnitedHealthcare has been investing heavily in technology platform for a while now to stay ahead of the rapidly-changing industry, which embraced technological innovations amid the COVID-19 breakout.
Digital technology began to reshape the health insurance markets. Players in the United States were slow to adopt digitization and are still behind other industries in their use of AI and automation. However, the coronavirus pandemic now accelerated this process. Strong digital skills are a must-have for the health insurers.
Some payers are already deriving direct benefits from their digital investments by providing an enhanced customer experience, gaining from administrative and medical cost reductions, better member health outcomes and revenue growth. These payers are also finding ways to gain a plum market share with digital solutions.
UnitedHealthcare has been steadfast in incorporating technology into its operations. The company recently enriched its virtual care solutions with local physicians for members under the employer-sponsored plans. The health insurance giant also launched a Virtual Primary Care service that provides access to medical services in a better fashion. It
Management recently announced that the company will acquire Change Healthcare for nearly $8 billion. The deal will combine Change Healthcare with UnitedHealthcare’s OptumInsight unit to offer software, data analytics, technology and other services to the health care industry. This combination will help simplify services around medical care to improve health outcomes and lower costs.
Other companies in the space, such as Cigna Cop. (CI - Free Report) , Humana Inc. (HUM - Free Report) and Anthem Inc. are also investing in technology to keep themselves well-equipped to provide superior services to their customers.
Year to date, the stock has gained 0.7% compared with the industry’s growth of 1.6%.
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Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
UnitedHealthcare (UNH) Expands Virtual Care to Hearing Aids
UnitedHealthcare Group Inc. (UNH - Free Report) has introduced a virtual care model named Right2You, which will expand access to custom-programmed hearing aids.
Sales of hearing aids have taken a beating since the outbreak of COVID-19, which limited in-person sales. The aforementioned virtual service that requires people to first take an online hearing test and then to go for further medical action is likely to aid sales.
This virtual solution will curb the requirement of in-person appointments for fittings or adjustment to the hearing aids. Instead of follow-up adjustments and support via an in-person appointment, Right2You enables remote customization with a smartphone or a tablet paired up with the hearing aids.
Right2You will also be cost effective for customers as both general consumers and eligible UnitedHealthcare members will be able to potentially save 50-80% on custom-programed hearing aids compared to the traditional models.
This service will likely help the company serve 48 million Americans who suffer hearing impairment.
UnitedHealthcare has been investing heavily in technology platform for a while now to stay ahead of the rapidly-changing industry, which embraced technological innovations amid the COVID-19 breakout.
Digital technology began to reshape the health insurance markets. Players in the United States were slow to adopt digitization and are still behind other industries in their use of AI and automation. However, the coronavirus pandemic now accelerated this process. Strong digital skills are a must-have for the health insurers.
Some payers are already deriving direct benefits from their digital investments by providing an enhanced customer experience, gaining from administrative and medical cost reductions, better member health outcomes and revenue growth. These payers are also finding ways to gain a plum market share with digital solutions.
UnitedHealthcare has been steadfast in incorporating technology into its operations. The company recently enriched its virtual care solutions with local physicians for members under the employer-sponsored plans. The health insurance giant also launched a Virtual Primary Care service that provides access to medical services in a better fashion. It
Management recently announced that the company will acquire Change Healthcare for nearly $8 billion. The deal will combine Change Healthcare with UnitedHealthcare’s OptumInsight unit to offer software, data analytics, technology and other services to the health care industry. This combination will help simplify services around medical care to improve health outcomes and lower costs.
Other companies in the space, such as Cigna Cop. (CI - Free Report) , Humana Inc. (HUM - Free Report) and Anthem Inc. are also investing in technology to keep themselves well-equipped to provide superior services to their customers.
Year to date, the stock has gained 0.7% compared with the industry’s growth of 1.6%.
The stock currently carries a Zacks Rank # 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
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