Elevance Health (NYSE:ELV), formerly Anthem, is leaning toward care navigation and analytics services to help patients manage their medical, social and behavioral conditions.
“Our clinical advocates help members navigate the health care system, leveraging real-time data analytics to identify health risks that allow them to personally connect with members and help them proactively manage medical issues, social and behavioral issues that affect your health,” Gail Boudreaux, president and CEO of Elevance, during a third-quarter 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 scheduled to include 24/7 access to a resource center for crisis management and navigation. Few details about the program have been released since it was initially mentioned on a third-quarter 2021 earnings call.
Elevance also prioritizes behavioral health as part of its comprehensive approach to caring for members.
The largest payer organization attributes the attention it gets from employers and health plans, in part, to its comprehensive care approach.
“We are pleased to report the continued and widespread momentum at Elevance Health, a testament to our integrated and personalized holistic health approach to addressing the physical, behavioral and social needs of our members and communities,” said Boudreaux. 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 that revenue was up 11.5% from the prior year quarter to $39.6 billion. Elevance also announced that its medical enrollment increased by 2.2 million members year over year and by 232,000 members in the third quarter. The company revealed that
Payers have continued to invest in behavioral health efforts. During United Health Group (NYSE: UNH) On the third-quarter earnings call last week, the payer announced that it has expanded its behavioral health network by 25% over the last “couple of years.”
Cigna Corp. (NYSE: CI) is also focusing on behavioral health. In fact, its health services segment, Evernorth, announced that its behavioral health network has more than doubled in size in the last five years during a second-quarter earnings call.
