SEATTLE and LOUISVILLE, Ky., Oct.
10, 2019 /PRNewswire/ -- Accolade and Humana Inc. (NYSE:
HUM) announced today an expansion of their existing partnership
that includes a $20 million strategic
investment from Humana. The investment comes as Humana affirms its
commitment to advance member engagement within its offerings for
commercial employer groups, leveraging Accolade to strengthen its
consumer-optimized health platform.
Humana and Accolade first announced their partnership in
March 2019, where both companies
agreed to integrate their capabilities to create a differentiated
healthcare and benefits experience for individuals and their
employers. The companies are expanding their partnership agreement
as they continue to create personalized and simplified member
experiences and leverage new opportunities around solution
flexibility, service delivery, partner integration, and economic
value in healthcare.
Specifically, the strategic investment will allow the two
organizations to tailor the Humana with Accolade solution for a
broader base of fully-insured and ASO prospects and clients. The
investment will enable robust integrations and seamless engagement
options that make it easy for new members to access convenient and
affordable care. Humana and Accolade will also significantly expand
geographies in 2020 and beyond, while building out the teams needed
to support product and market expansion.
"Accolade is doing highly unique work in the healthcare space,
as their connected platform and personalized service create
impressive member satisfaction and value for employers," said
Chris Hunter, president of Humana's
Group and Military Segment. "Given our existing relationship, we
see the opportunity for Accolade to emerge as a key element of the
value proposition for Humana's employer group business, further
enhancing the benefits of the service to our joint customers and
their members."
Humana with Accolade Advantage
Humana recognizes the value of a strengthened relationship with
Accolade based on the Accolade service model, supported by an
advanced machine learning and intelligence engine that produces
highly personalized services across an entire member population.
With dedicated Health Assistants and Clinicians, mobile and online
messaging, a fully integrated benefits center, member activation
campaigns, and intelligent insights, Accolade shows an increase in
program utilization among its members. Accolade achieves measurable
member satisfaction and cost savings for its employer customers,
while reducing complexity, time and waste.
Humana with Accolade brings employers and their health plan
members the benefit of Humana's provider networks and innovative
medical, dental, pharmacy, Employee Assistance Program (EAP),
Work-life Services, and Go365 wellness reward program capabilities,
together with Accolade's robust member engagement services and
integrated health and benefits partner programs. With a mission to
dramatically improve member engagement, experience, outcomes and
costs in healthcare, Humana with Accolade leverages an open and
intelligent platform and a personalized advocacy solution to create
a whole person, whole population health offering for its
self-funded employer clients, their employees and families.
"Humana has been a supportive and successful partner from day
one, and we're happy to extend our relationship to a level that
more deeply aligns our vision and supports our product and service
delivery in exciting ways," said Rajeev
Singh, Accolade CEO. "We have long seen the value of
industry collaboration, leveraging people-centric innovation, and
Humana is a model in the industry with their approach for how
companies can align for mutual benefit and success."
Humana with Accolade is currently available in the Milwaukee, Wis., and Cincinnati, Ohio, areas. For more information
on Humana with Accolade or to see a demonstration of their shared
solution, please contact inquiries@accolade.com.
SVB Leerink LLC served as exclusive financial advisor to Humana
in connection with the transaction.
About Accolade
Accolade is a leader in personalized
health and benefits solutions that dramatically improves the
experience, outcomes and cost of healthcare for employers, health
plans and their members. With a unique blend of compassionate
advisors, clinical experts and intelligent technologies, we engage
individuals and families in their health, establish trust, and
influence their decisions at every stage of care. Accolade connects
the widest array of personal health data and programs to present a
single point of entry to the most effective health and benefits
resources, while coordinating with providers at every step.
Accolade consistently achieves 60 and higher Net Promoter Scores,
98% consumer satisfaction ratings, and up to 15% employer cost
savings. Accolade has been recognized as one of the nation's 25
most promising companies by Forbes, a fastest-growing private
healthcare company by Inc. 5000, and is consistently rated a Top
Workplace across the country. For more information, visit
www.accolade.com.
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 that makes
health care easier to navigate and more effective.
More information regarding Humana is available to investors via
the Investor Relations page of the company's web site at
www.humana.com, including copies of:
- Annual reports to stockholders
- Securities and Exchange Commission filings
- Most recent investor conference presentations
- Quarterly earnings news releases and conference calls
- Calendar of events
- Corporate Governance information
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SOURCE Accolade