Humana to Buy Onehome As It Creates Value-Based Home Health Model
Humana Inc. has agreed to acquire One Homecare Solutions (“onehome”), a provider of home-based services, as part of its effort to more effectively deliver value-based home health at a national scale.
Humana also recently announcement plans to buy Kindred at Home, the nation’s largest home health and hospice provider. Kindred at Home has locations in 40 states and employs approximately 43,000 caregivers providing home health, hospice and community care services to over 550,000 patients annually.
Louisville, Ky.-based Humana (NYSE: HUM) is purchasing onehome from WayPoint Capital Partners, the private equity affiliate of a New York-based family investment office. The company noted that onehome has pioneered a valued-based model in Florida and Texas, and has served Humana members since 2015.
Onehome’s model creates one integrated point of accountability that coordinates the needs of patients, physicians, hospitals and health plans for home-based patient care. It currently manages a range of post-acute needs including infusion care, nursing, occupational therapy, physical therapy and durable medical equipment services at patients' homes, as well as appropriate site-of-care placement through its skilled nursing facility-at-home programs.
Humana stressed that the purchase would allow it to more effectively deliver value-based home health, because onehome has significant experience with risk-based contracting, and has fully-capitated models in place in Florida and Texas that will provide valuable insights for the expansion of similar contracting in other states. Also, onehome has developed fully dedicated network management and utilization management systems that can create greater efficiencies for the administration of in-home patient visits.
“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. 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.”
Financial terms were not disclosed. The acquisition is expected to close in the second quarter of 2021.
