Humana is an
insurance company headquartered in Kentucky. Recently, Humana has embarked into
some interesting moves that changed the behavior of insurance consumers.
The company
understood that it could not compete in the growing insurance market head on
with just the premium payments from 7 million specialty insurance members and
11 million medical plan holders. Humana retains its principal product which
include Medicare and other healthcare products that cover vision, dental and
other supplemental health protection to individuals and groups.
However, Humana has
recently entered into partnered innovation to connect its business strength
with those of other players in the healthcare arena. The company believes that
the results would not only enhance healthcare services but also open up
opportunities for new businesses.
In 2011, Humana
launched a joint venture with Discovery Holdings called HumanaVitality. With the project, members have
access to wellness and loyalty plans that are actually driven and science
based. These programs feature tools and rewards based on the patients’ needs.
But the most
notable innovative initiative was the one launched in partnership with Trek. It
is called B-Cycle.
The concept of B-Cycle has worked in the cities of Paris and London and has
since been brought to the US. The idea is bike sharing which helped address the
issues of transportation and environment in many key US cities while also
addressing the issues of health.
Another program which
Humana launched in partnership with Ubisoft incorporates gaming and health. The
partnership also allowed a new media venture that aims to simplify the way
insurance and other important information are shared among different healthcare
providers that would make the processing of claims more efficient for patients.
Humana continues
to study opportunities where innovations can be made across several fronts at
once. The goal is to tackle the healthcare challenges imposed by our time.
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