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Humana reorganizing, paring down to two main units

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In a move meant to simplify its organizational structure, Humana will pare itself down into two main units, Insurance Services and CenterWell, while launching an executive search for president of insurance and enterprise services.

In a second-quarter earnings call posted Thursday, executives said separating the company into the two units will encourage collaboration, and accelerate the work being done to centralize and integrate operations.

The Insurance Services unit will comprise what is currently the retail, group and specialty segments, while Centerwell will encompass healthcare services. The executive search will focus on candidates with experience running complex organizations.

WHAT’S THE IMPACT

Humana CEO Bruce D. Broussard said during the investor call that the company has made “meaningful progress” in advancing its strategy over recent months. This, he said, has resulted in a significant expansion of its service businesses, which he expects wouldl further strengthen its Medicare Advantage and Medicaid platforms.

“The work completed on our value-creation initiative has led to an organizational simplification that enables us to accelerate (our) previously planned organizational streamline,” he said.Broussard said he expects a simpler structure that will accelerate efforts to centralize the work being done within the organization.Humana’s earnings have grown 20% over this period in 2021, […]

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