Humana CEO Bruce Broussard believes that personal devices in the home to monitor and track vital signs are "going to have the biggest impact" on the healthcare industry, he told Louisville Business First. He believes that technology has a high value for healthcare, adding that predictive modeling is another area of interest that can positively affect costs and quality.
These ideas reflect a movement at Humana to use "lifestyle medicine" to help treat chronic conditions, FierceHealthPayer previously reported. Here, personal devices are a small piece of the program, which also incorporates healthy eating, wellness coaching and other types of support. This broader focus on member engagement is key to cutting healthcare costs.
Broussard also said that he thinks the health insurance exchanges will continue to expand over time but will likely be "flat" in 2015 after 2014 was a "growth year." Although the exchange business hasn't yet been profitable for Humana, he expects individual plan business to keep growing for the insurer. Broussard has said that health insurance exchange participation will lower prices for insurance plans by forcing payers to be more competitive, FierceHealthPayer previously reported.
Additionally, Broussard told the newspaper that Humana is not planning on selling its pharmacy division. "We don't need to own the whole healthcare system," he said, adding that it's important to have a platform that helps integrate healthcare services--which he believes Humana already offers.
To learn more:
- read the Louisville Business First article