CHICAGO & LOUISVILLE, Ky.--(BUSINESS WIRE)--The University of Chicago Medicine (UChicago Medicine) and leading health and well-being company Humana Inc. (NYSE: HUM) have entered into a value-based agreement designed to offer a coordinated, patient-centered experience to help Humana Medicare Advantage members achieve their best health.
The agreement aligns two organizations with a shared commitment to improving the patient experience and the health outcomes of people in the Chicagoland area. The agreement will provide access to value-based care for Humana Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and Private Fee-for-Service (PFFS) health plan members seeking care at the University of Chicago Medical Center; UChicago Medicine outpatient care centers and clinics; and the University of Chicago Physicians Group practices.
“We’re pleased to enter into this agreement with Humana, as we have a mutual commitment to innovative care delivery and collaborative community health efforts,” said Raj Krishnamurthy, chief clinical transformation officer at UChicago Medicine. “Amid the transition to value-based care, UChicago Medicine will continue to enhance its efforts to coordinate care and focus on each patient’s unique health needs.”
“Humana is proud to collaborate with The University of Chicago Medicine, an academic medical institution with roots in the community that span more than 90 years,” said Humana Regional President Chuck Dow. “We’re excited to share our data-driven insights and decades of expertise in value-based care as we align to enhance the patient experience, provide quality patient care, and lower health care costs in Illinois.”
The agreement with UChicago Medicine is part of Humana’s longstanding commitment to value-based care, which emphasizes:
- More personal time with health professionals and personalized care that is tailored to each person’s unique health situation;
- Access to proactive health screenings and programs that are focused on preventing illness;
- Improved care for people living with chronic conditions with a focus on avoiding health complications;
- Leveraging technologies, such as data analytics, that connect physicians and help them work as a team to coordinate care around the patient; and
- Reimbursement to physicians linked to the health outcomes of their patients rather than based solely on the quantity of services they provide (fee-for-service). (Watch video of Humana and AAFP’s Value-Based Payment Study Congressional Briefing).
Humana has an extensive and growing value-based care presence. As of June 30, 2018, Humana has approximately two million individual Medicare Advantage members and approximately 130,000 Group members who are cared for by more than 52,000 primary care physicians in more than 1,000 value-based relationships across 43 states and Puerto Rico. Humana’s total Medicare Advantage membership is more than 3.5 million members, which includes members affiliated with providers in value-based and standard Medicare Advantage settings. For more information, visit humana.com/provider/support/vbc.
About The University of Chicago Medicine
The University of Chicago Medicine, with a history dating back to 1927, is one of the nation’s leading academic medical institutions. It comprises the University of Chicago Medical Center, Pritzker School of Medicine and the Biological Sciences Division. Its main Hyde Park campus is home to the Center for Care and Discovery, Bernard Mitchell Hospital, Comer Children’s Hospital and the Duchossois Center for Advanced Medicine. It also has ambulatory facilities in Orland Park and the South Loop as well as affiliations and partnerships that create a regional network of care. UChicago Medicine offers a full range of specialty-care services for adults and children through more than 40 institutes and centers including an NCI-designated Comprehensive Cancer Center. Harvey-based Ingalls Health joined UChicago Medicine’s network in 2016.
For more information, please visit www.uchicagomedicine.org.
Humana Inc. is committed to helping our millions of medical and specialty members achieve their best health. Our successful history in care delivery and health plan administration is helping us create a new kind of integrated care with the power to improve health and well-being and lower costs. Our efforts are leading to a better quality of life for people with Medicare, families, individuals, military service personnel, and communities at large.
To accomplish that, we support physicians and other health care professionals as they work to deliver the right care in the right place for their patients, our members. Our range of clinical capabilities, resources and tools – such as in-home care, behavioral health, pharmacy services, data analytics and wellness solutions – combine to produce a simplified experience that makes health care easier to navigate and more effective.
More information regarding Humana is available to investors via the Investor Relations page of the company’s web site at www.humana.com, including copies of:
- Annual reports to stockholders
- Securities and Exchange Commission filings
- Most recent investor conference presentations
- Quarterly earnings news releases and conference calls
- Calendar of events
- Corporate Governance information
Humana is a Medicare Advantage HMO, PPO and PFFS organization with a Medicare contract. Enrollment in any Humana plan depends on contract renewal. Other providers are available in our network.