HUM Subsidiary Announces Expansion Plans to Launch 20 More Care Facilities

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Humana (HUM) subsidiary, Partners in Primary Care, has embarked on a major expansion that will roll out over three years, and includes bringing online 20 additional care facilities in the first year.

Commenting on the expansion plans, was Renee Buckingham, Humana Care Delivery Organization president, “We’re thrilled to see the communities we serve continue to embrace our dedicated approach to senior-focused health care, and we’re excited to bring our comprehensive, personalized primary care to more seniors.”

Under the new plan, Partners in Primary Care will open facilities in two additional markets. Eight primary care facilities will open in Las Vegas, and two new facilities will open their doors in the Shreveport-Bossier City, La. area. The company currently operates facilities in a total of eight states.

In addition to the new markets, the company will add 10 new facilities in Houston, which will bring the number of primary care options offered by Partners in Primary Care to 15.

The Partners in Primary Care model implements Humanas increasing focus on a holistic approach to care. 

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Taking into account important social factors, primary physicians employed by the company will offer “personalized care plans designed to help patients achieve their best possible health. This includes helping patients with social, behavioral and financial needs.” 

Working under the Medicare Advantage health plans, Partners in Primary Care is part of a group of facilities that provide personalized care to over 35,000 seniors. The facilities “provide health education and value-added, well-being services at their centers and around their neighborhoods to help both patients and community members improve their health.”

Under a joint venture formed with Welsh, Carson, Anderson & Stowe, Partners in Primary Care will double the number of facilities it operates in the next three years. Humana ensures the quality of the staff at these facilities, promising the care facilities “are staffed by board-certified physicians and care teams who have been specially trained to treat the senior population.”

Related: Humana Eases Claims Requirements to Expedite Payments During Pandemic

Humana stock has now fully recovered from the selloff precipitated by COVID-19 in March. HUM is almost exactly at the highs it reached, just over $380, in February of this year. The stock had traded under $210 at the market lows in March. The stock has a PE of just over 19, and currently yields 0.67%, paying a $2.50 annualized dividend.

Steven Adams’s personal position in Humana: none.

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