If mergers and acquisitions (M&A) in the healthcare industry thrived in 2021, then partnerships and expansions seem to be the flavour of the season in 2022. The evolving nature of healthcare in the wake of the Covid-19 onslaught has spurred serendipitous deals and partnerships. Health insurance providers are marching towards their post-pandemic goals by joining hands with their target-specific companies and by expanding their coverage. Let’s have a look at the top five payers’ expansions and deals.
- Fallon’s Health test coverage: With the world battling the Omicron-driven Covid surge, at-home tests have gained traction. Fallon Health, based in Worcester, central Massachusetts, is bolstering its at-home Covid-19 test coverage by including its Medicare members. Richard Burke, president, and CEO of Fallon Health said the expansion will provide a greater shield to older members severely hit by the pandemic.
- Optum-Illumina pact: Pharmacy benefit manager Optum has tied up with genomic sequencing technology firm Illumina to enhance the safety of human genome-based tests.
- Blue Cross Blue Shield expansion: Under the state’s Medicare expansion program, North Dakota-based Blue Cross Blue Shield will provide coverage to people aged below 65 with incomes under 138 percent of the federal poverty level.
- UnitedHealthcare vision benefits: American multinational managed healthcare UnitedHealthcare is giving discounts to its members on blue-light-blocking laptops by signing an agreement with Dell. As part of the deal, 23 million members can avail of a 20 percent discount on Dell XPS laptops with blue-light-blocking screens.
- CVS grabs $3.4 billion contracts: Bringing smiles to 727,000 employees, North Carolina’s State Health Plan Board of Trustees has awarded a $3.4 billion pharmacy benefit management contract to CVS Health.