Humana

Humana

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Humana Inc. is a Louisville, Kentucky-based for-profit health insurance company. As of 2014 Humana has had over 13 million customers in the U.S., reported a 2013 revenue of US$41.3 billion, and has had over 52,000 employees. In 2013, the company ranked 73 on the Fortune 500 list, which made it the highest ranked (by revenues) company based in Kentucky. It has been the third largest health insurance in the nation.[6]

The U.S. Dept. of Health and Human Services investigated Humana in 2009 for sending flyers to MediCare recipients that the AARP characterized as deceptive. The company's managed care model has also been criticized for ethical lapses and limitations.

As the American health care system changed in the 1980s, "one of its hospitals in Arizona lost a contract with the largest health-maintenance organization in the area [and] Humana created its own health insurance plan.

In 1993, Humana had become the largest hospital operator in the country owning 77 hospitals. Humana executives spun off hospital operations from health insurance operations, to create Galen Health Care. The following year they sold the 73 hospitals of Galen Health Care Inc. to Nashville-based Columbia Hospital Corporation of America for $3.4 billion.

In 1998, one year after Jones has stepped aside as CEO, United Healthcare made an unsuccessful attempt to acquire Humana. United's effort failed when it reported an almost billion-dollar quarterly loss.

In 2005, Humana entered into a business partnership with Virgin Group, offering financial incentives to members for healthy behavior, such as regular exercise.

On November 16, 2006, The Centers for Disease Control and Prevention (CDC) and Humana Inc. partnered to expand on traditional private-sector approaches to population health management.

In 2006, Humana launched an education campaign to market Medicare Advantage (MA) and Prescription Drug Plans (PDP) nationwide to Medicare eligible consumers, following the passage of the Medicare modernization act. The same year Humana launched RightSource, a national mail-order retail pharmacy business. In its March 2008 issue, Fortune Magazine named Humana one of the Top 5 Most Admired Healthcare Companies in the United States.

In 2010, Humana bought Texas-based Concentra Inc., which owns urgent-care and physical therapy centers, for $790 million, effectively returning to health care services. In May 2011, Humana announced it would be using mobileStorm to transmit protected health information to patients.

In March 2015, Humana announced the sale of Concentra to private equity firm Welsh, Carson, Anderson & Stowe and Select Medical Holdings Corporation for about $1 billion, with proceeds to fund a "$2 billion share buyback program and other corporate spending".