Humana and ChenMed Announce Five-Year Network Agreement

Rhea-AI Summary

Humana Inc. (NYSE: HUM) has reinforced its long-standing relationship with ChenMed by signing a new five-year agreement, allowing Humana’s Medicare Advantage members access to in-network care at all of ChenMed’s locations. This collaboration supports both companies' commitment to senior-focused primary care, ensuring high-quality healthcare for members across Florida and beyond. Humana has approximately 8.6 million Medicare members, with 5.6 million enrolled in Medicare Advantage plans. The agreement further enhances ChenMed’s capabilities in delivering personalized concierge care, ensuring improved health outcomes for seniors.

Positive

• New five-year agreement enhances access to care for Humana's Medicare Advantage members.
• Continues long-standing relationship, providing stability and quality care.
• Partnership strengthens ChenMed's operations with a focus on senior health.
• Humana's extensive provider network includes over 120 locations across 15 states.

Negative

• None.

New contract further cements long-standing relationship providing Humana Medicare Advantage members with high-quality, in-network senior-focused primary care at ChenMed’s Chen, Dedicated and JenCare Senior Medical Centers

LOUISVILLE, Ky. & MIAMI--(BUSINESS WIRE)-- ChenMed, one of the largest senior-focused primary care providers in the United States, and leading health and well-being company Humana Inc. (NYSE: HUM) have signed a new five-year agreement providing in-network care for Humana’s Medicare Advantage members at all ChenMed locations, including Chen Senior Medical Center, Dedicated Senior Medical Center and JenCare Senior Medical Center.

The agreement continues the long-standing relationship that has existed between the two companies for decades and provides stability for Humana’s Medicare Advantage members and high-quality care at all three ChenMed brands. The agreement also includes CarePlus Medicare Advantage members in Florida.

“ChenMed and our partners at Humana understand seniors, and together we have deep experience delivering on the spectrum of their primary care needs. We look forward to continuing our work with Humana to expand much-needed access to ChenMed’s senior-focused concierge care and industry-leading patient outcomes,” said Michael Redmond, Chief Financial Officer of ChenMed. “We are excited about this agreement, which guarantees our patients will continue to have access to Humana’s leading health plans, along with the personalized, high-touch care we provide.”

Humana and ChenMed began their relationship in the early 1990s focused in South Florida. The relationship was strengthened in 2011, when ChenMed and Humana formed a joint-venture, JenCare Senior Medical Centers, which rapidly grew outside of Florida. The continued success of JenCare led ChenMed to the recent hiring of Steve Nelson as Chief Executive Officer for JenCare. His proven industry expertise and track record in scaling large organizations will be pivotal to drive growth for JenCare and improve seniors’ access to high-quality care at a lower cost.

“Specialized primary care facilities focused on seniors’ unique needs have a proven positive impact on health outcomes. We are excited to not only strengthen our long-standing relationship with ChenMed, but also benefit from its growing national presence to ensure a broader group of seniors have access to providers who are focused on their needs,” said George Renaudin, Humana’s President of Medicare and Medicaid. “More senior-focused providers in more markets means more options for high-quality, value-based care for our members.”

ChenMed currently operates three brands of medical centers delivering high-touch, physician-led personalized care across more than 120 locations in 15 states – Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Michigan, Missouri, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.

Humana has served Medicare beneficiaries for nearly 40 years, with about 8.6 million Medicare members in all 50 states, Washington, D.C., and Puerto Rico, as of January 2023. Approximately 5.6 million of those members are enrolled in a Medicare Advantage plan. Most members have access to a broad health care provider network, including care from multiple senior-focused primary care providers, across all of ChenMed’s brands and facilities, and Humana’s CenterWell- and Conviva-branded senior-focused primary care facilities.

About Humana

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 with the goal of making health care easier to navigate and more effective.

About ChenMed

ChenMed is a privately owned medical, technology and management company that delivers the high-touch and personalized primary care Medicare-eligible seniors need to enjoy better health. The company operates more than 120 senior medical centers in 15 states. Named one of Fortune’s 2020 "Change the World" companies, twice named a "Most Loved Workplace" by Newsweek, and a certified Great Place to Work^® by the Great Place to Work Institute, ChenMed brings concierge-style medicine and better health outcomes to the neediest populations. ChenMed brands include Chen Senior Medical Center, Dedicated Senior Medical Center, JenCare Senior Medical Center and IntuneHealth™. Its leading healthcare technology organization, Curity™, was recently named a "Best Place to Work in IT" by ComputerWorld.

ChenMed's unique physician-led primary care model, proprietary technological capabilities, and impressive results have earned the company recognition by the White House, the Department of Health and Human Services, and the U.K. National Health System. ChenMed has also been featured in publications such as Modern Healthcare, Health Affairs, Forbes, The Economist, The Wall Street Journal, The New England Journal of Medicine, The Guardian, and Medical Economics, which named ChenMed, "Best Primary Care System in the U.S."

View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005262/en/

Kelli LeGaspi

Humana Corporate Communications

502-519-5161

Klegaspi1@humana.com

Suzy Quinn

ChenMed Corporate Communications and PR

310-465-9893

Suzy.quinn@chenmed.com

Source: Humana Inc.

FAQ

What is the new agreement between Humana and ChenMed?

Humana and ChenMed have signed a new five-year agreement providing Humana’s Medicare Advantage members with in-network access to all ChenMed locations.

How many Medicare members does Humana have?

As of January 2023, Humana has approximately 8.6 million Medicare members.

What benefits does the new contract provide for seniors?

The contract ensures access to high-quality, personalized primary care for Humana's Medicare Advantage members.

In which states does ChenMed operate?

ChenMed operates in 15 states including Florida, Georgia, Illinois, Texas, and more.

How does the partnership impact healthcare for seniors?

The partnership aims to improve health outcomes for seniors by expanding access to senior-focused primary care services.