Humana will acquire One Homecare Solutions, or onehome, in a bid to grow its value-based home healthcare offerings.
The insurer announced Monday that it would purchase onehome from WayPoint Capital Partners in a deal expected to close in the second quarter of this year. Financial details were not disclosed, but Humana does not expect the acquisition to have a material impact on its 2021 earnings.
The home health company has provided care to Humana members since 2015 and has pioneered a value-based model in both Texas and Florida. Humana said that onehome's platform brings a variety of home-based services into the fold, as well as that it serves as a care and risk manager.
“At Humana, we are implementing a strategy to build a new Value-Based Home Health model that will improve patient outcomes, increase satisfaction for patients and providers, and provide greater value for health plan partners,” said Susan Diamond, segment president for Humana’s home business and Humana’s interim chief financial officer, in a statement.
“The acquisition of onehome is a key component of that strategy. It complements our recent announcement to fully acquire and integrate Kindred at Home, and brings together additional capabilities that will allow Humana to deliver value-based home health at a national scale," Diamond said. "By combining onehome’s value-based approach with Kindred's home health services and Humana's analytical capabilities and clinical expertise, we believe we can create a transformational value-based offering to serve more people, including non-Humana plan members, nationwide.”
The news comes on the heels of the announcement in late April that Humana would buy out the remaining stake in Kindred at Home in a deal valued at $5.7 billion. Humana said both deals will allow it to further scale up its value-based home healthcare services for members.
In the case of onehome, Humana said the company will come with significant experience in risk-based arrangements, including fully-capitated models. The company also has established utilization management protocols and owns and manages in-home durable medical equipment and infusion services.
Humana expects these in tandem to lead to less waste and better outcomes through more consistent equipment use.
“We built the onehome model with a focus on integrating all key home-based patient care delivery needs with risk-taking capabilities and robust technology," said Ramon Falero, CEO and co-founder of onehome, in a statement. "We have had the privilege of serving millions of patients with this model – the need for which has only increased during the COVID-19 pandemic. We are honored to now have the opportunity to expand our model as part of the Humana team, with whom we share the mission of bringing healing home.”