Magellan Health and Gallup Team Up to Measure and Increase Wellbeing

Rhea-AI Summary

Magellan Health (NASDAQ: MGLN) and Gallup have launched the Magellan-Gallup Wellbeing Project, aiming to enhance mental wellness through innovative solutions and surveys. This partnership addresses a growing mental health crisis, with 70% of individuals reportedly struggling with emotional wellbeing. The project will leverage Gallup's research on five dimensions of wellbeing, focusing on prevention and early identification of stressors. Initial surveys for various segments, including employers, will commence on April 1, 2022.

Positive

• Collaboration with Gallup introduces comprehensive wellbeing studies and solutions.
• Focus on mental wellness aligns with increasing societal needs and trends.
• Innovative tools for measurement of Emotional Wellbeing are set to launch.

Negative

• High prevalence of negative emotions highlights underlying societal issues.
• Dependence on collaborative ventures to address mental health could pose execution risks.

Magellan-Gallup Wellbeing Project dedicated to stress prevention and screening innovations

PHOENIX & WASHINGTON--(BUSINESS WIRE)-- Magellan Health, Inc. (NASDAQ: MGLN) and Gallup today announced a collaboration called the Magellan-Gallup Wellbeing Project that will create some of today’s most comprehensive wellbeing studies and solutions. The project will combine the behavioral health expertise of Magellan with the respected data of Gallup to help society measure and increase wellbeing at a time when wellbeing has risen to the forefront of the national conversation.

Seven out of ten people are struggling or suffering, many in silence.¹ According to Gallup’s Global Emotions Report, negative emotions have been on the rise for the past 15 years, long before the pandemic, and are now at their highest point in history. Historically, society has focused on treating mental illness versus cultivating mental wellness. This has created stigma, silence and indifference around concerns of the mind. However, over the past two years, the critical importance of mental wellness has come to light.

“This is an unprecedented moment in which our society can no longer afford to be indifferent or silent when so many are struggling or suffering,” said Ken Fasola, chief executive officer, Magellan Health. “As a behavioral health leader with deep clinical expertise, Magellan Health has always focused on those who are suffering, and we are taking an active, holistic approach to the wellbeing of individuals as we work to reinvent the healthcare experience for our members.”

“The next global crisis is a mental health pandemic — and it is here now,” says Gallup Chairman CEO Jim Clifton. “Gallup is taking on the mental health challenge with Magellan to make a difference in the lives of individuals and communities everywhere.”

Grounded in Gallup’s established research into five dimensions of wellbeing: Career, Social, Financial, Physical and Community, and advancing new measurement tools for Emotional Wellbeing, the Magellan-Gallup Wellbeing Project has created a unique survey that will help people thrive in each dimension through personalized solutions and regular reassessments to measure progress.

“The COVID-19 pandemic has made it abundantly clear that the behavioral health and mental wellbeing of individuals remain a critical societal need, presenting even larger challenges for employers. This is not something any one organization or group can accomplish alone which is why we are collaborating with Gallup,” said Caroline Carney, M.D., chief medical officer, Magellan Health. “We know the path to wellbeing starts with prevention and early identification of life stressors through mental wellness checkups which should be as common and routine as annual physicals.”

As a part of Magellan’s new eMbrace product, the Magellan-Gallup Wellbeing Project will launch the wellbeing survey for health plan, public sector, Federal and employer segments, beginning with employers as of April 1, 2022. Through eMbrace, Magellan and Gallup intend to empower individuals in their journey to develop thriving lives, resilient minds and healthy bodies.

Through the Magellan-Gallup Wellbeing Project, the two companies bring together similar missions and complementary expertise. Magellan has over 50 years of experience in behavioral health, and Gallup is the worldwide leader in global analytics and wellbeing. Together the two companies believe:

• With the right tools, individuals can be resilient and recovery is possible.
• understanding and addressing wellbeing can help individuals develop a thriving life, a resilient mind and a healthy body; and,
• supporting population wellbeing can improve companies, communities and economies.

About Magellan Health: Magellan Health, Inc. is a leader in managing the fastest growing, most complex areas of health, including special populations, complete pharmacy benefits and other specialty areas of healthcare. Magellan supports innovative ways of accessing better health through technology, while remaining focused on the critical personal relationships that are necessary to achieve a healthy, vibrant life. Magellan's customers include health plans and other managed care organizations, employers, labor unions, various military and governmental agencies and third-party administrators. For more information, visit MagellanHealth.com.

About Gallup: Gallup delivers analytics and advice to help leaders and organizations solve their most pressing problems. Combining more than 80 years of experience with its global reach, Gallup knows more about the attitudes and behaviors of employees, customers, students and citizens than any other organization in the world.

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included within the Company’s most recent Annual Report on Form 10-K, quarterly report on Form 10-Q, and subsequent reports on Forms 10-Q and 8-K. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

(MGLN-GEN)

¹ Clifton Jim and Harter Jim, Gallup Wellbeing at Work: How to Build Resilient and Thriving Teams (Gallup: 2021)

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005264/en/

Magellan Health Media Contact: Lilly Ackley, ackleyl@magellanhealth.com, (860) 507-1923

Magellan Health Investor Contact: Darren Lehrich, lehrichd@magellanhealth.com, (917) 291-9311

Gallup Media Contact: media@gallup.com

Source: Magellan Health, Inc.

FAQ

What is the Magellan-Gallup Wellbeing Project?

It is a collaboration between Magellan Health and Gallup aimed at improving mental wellness through comprehensive studies and innovative solutions.

When will the wellbeing survey launch for employers?

The survey is set to launch on April 1, 2022.

What are the dimensions of wellbeing studied in the project?

The project focuses on five dimensions: Career, Social, Financial, Physical, and Community.

How does the Magellan-Gallup Wellbeing Project impact MGLN stock?

The project's focus on addressing mental health could enhance service offerings and potentially improve MGLN's market position.

What does Magellan Health aim to achieve with this project?

Magellan aims to prevent mental health issues and provide early identification of stressors through innovative wellness checkups.