CNO Financial Group, Inc.’s ( CNO Quick Quote CNO - Free Report) unit, Optavise, teamed up with the clinical-first care navigation company, SentryHealth. The partnership will enhance the advocacy services of CNO with the inclusion of clinical advocacy and virtual care components, thanks to SentryHealth.
CNO Financial’s employer clients will get access to an end-to-end solution, as a result of which they can deliver better concierge services to their employee base. This, in turn, will ensure an in-depth understanding and better management of benefits by the employees.
Apart from managing benefits, the newly introduced clinical advocacy services basically refer to educating employees on the diagnosis of a disease and the subsequent discussion of suitable treatment plans by expert professionals. This is likely to bring about improved health outcomes for an employers’ workforce.
Consequent to a clinical assessment, the role of an expert professional will be performed by a Nurse Advocate who will reply to medical queries, educate the employees and recommend an array of suitable treatment options. The nurse may suggest to go for a second opinion in order to get correct diagnosis and treatment, search for less-invasive alternatives, refer to well-versed doctors and facilities or suggest virtual care in case of mental health therapy, chronic condition management and lifestyle coaching.
The upgraded advocacy services are likely to bolster the employer client base of the Optavise brand of CNO Financial and fetch higher fee income to the parent company. Presently, Optavise forms a part of the fee income segment of CNO through which it offers personalized benefits education, advocacy and transparency as well as communications compliance services, which aid employers in bringing down healthcare costs and pave the way for informed benefits decisions made by employers.
The Optavise unit was acquired by CNO Financial in 2021, considering the innovative benefits management services and advanced enrolment capabilities of the acquiree.
Also, the latest collaboration with SentryHealth seems to be a time opportune move on the part of CNO Financial in the light of escalating healthcare expenses across the United States. The incorrrect diagnosis of a disease can not only result in the loss of lives but also lead to incurring significant costs. Thereby, assistance from a Nurse Advocate can prove to be of great use as it will protect the health of employees, provide them with the best possible care and minimize the need for unrequired visits, tests, and treatments.
Shares of CNO Financial have gained 21.8% in a year against the
industry’s 2.6% decline. CNO currently carries a Zacks Rank #3 (Hold).
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