Elevance Health (NYSE:ELV), formerly Anthem, is leaning into analytics and care navigation services to help patients manage their behavioral, social and medical conditions.
“Our clinical advocates help members navigate the healthcare system, leveraging real-time data analytics to identify health risks that enable our advocates to personally connect with members and help them proactively manage the medical, behavioral and social issues impacting their health,” Gail Boudreaux, president and CEO of Elevance, said during a Q3 earnings call.
Elevance has been interested in creating tools for whole-person care for some time. In 2021 the payer announced its plans to launch a new product called Behavioral Health Advantage (BHA).
The new tool was slated to include 24/7 access to a resource center for crisis management and navigation. Few details about the program have been released since the program was initially mentioned in a 2021 Q3 earnings call.
Elevance is also prioritizing behavioral health as part of its strategy to care for members holistically.
The larger payer organization attributes the attention its garners from employers and health plans, in part, to its whole-person approach to care.
“We are pleased to report ongoing broad-based momentum across Elevance Health, a testament to our integrated and personalized whole health approach to addressing the physical, behavioral and social needs of our members and communities,” Boudreaux said.” Our focused efforts and investments in these areas are resonating with employers and state partners driving strong organic membership growth.”
This quarter the payer announced revenue grew 11.5% over the prior year quarter to $39.6 billion. Elevance also announced that its medical enrollment increased 2.2 million members year-over-year and 232,000 members in Q3. The company revealed that it
Payers have continued to invest in behavioral health efforts. During UnitedHealth Group’s (NYSE: UNH) Q3 earnings call last week the payer announced it expanded its behavioral health network by 25% over the last “couple of years.”
Cigna Corp.’s (NYSE: CI) is also focusing on behavioral health. In fact, its health services segment, Evernorth, announced its behavioral health network has more than doubled in size over the past five years during a Q2 earnings call.
Companies featured in this article:
