Humana stays competitive in consumer retail market
Humana is a mover and a shaker within the health insurance industry, taking steps both internally and externally to ensure it remains competitive in the market.
Most recently, Humana promoted its senior vice president of senior products, Thomas Liston, to the newly created position of president of retail segment, reported Business First. The move, which was announced Wednesday, is a clear indication that Humana is preparing for the upcoming business-to-consumer market.
Liston will be responsible for leading Humana's charge into its retail businesses, including senior products such as Medicare plans sold to individuals and HumanaOne plans for individuals and families, as well as health, wellness and financial protection products.
Humana also has taken several steps outside the company with an active mergers and acquisition history. With Paul Kusserow, senior vice president and chief strategy officer, leading the deal-making team, Humana has avoided competitive bidding situations and instead networks, reaches out and tracks up-and-coming businesses in attractive subsectors, The Deal reported.
"It's all about the confluences," Kusserow told The Deal. "Does everything fall into place at the right time? We really create a laundry list of players." For example, he said, Humana explored 55 companies before deciding to purchase SeniorBridge, a New York-based chronic care provider that offers in-home care for seniors. Humana acquired the in-home provider last December to help decrease hospitalizations and emergency room visits and simultaneously increase seniors' care coordination.
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