SelectQuote, Inc. (NYSE: SLQT) announced today that home-based primary care provider Heal, Inc. has joined Population Health's robust patient engagement model. This model showcases the solutions Population Health, which is currently leveraging SelectQuote's strong relationships with Medicare customers, can provide for both the consumer and the provider. This expanded relationship provides tighter strategic alignment between the organizations while delivering a higher quality customer experience, ultimately promoting better health outcomes. Population Health's patient engagement model focuses on expanded benefits awareness and education, real-time provider engagement scheduling and subsequent follow up conversations throughout the healthcare journey. This is a prime example of how Population Health is further extending and deepening the relationships that SelectQuote has with its core Medicare Advantage customers.
In the thousands of health risk assessments that have been completed to date by Population Health's Customer Success Agents, over 30% of respondents said they feel value-based care and telemedicine are important needs for them, while almost 20% of consumers expressed the importance of receiving care in their home. This new partnership highlights how Population Health can assist Medicare Advantage customers with the healthcare needs they feel are most important to them by providing them with solutions to meet those needs, and deepens the existing relationship between Population Health and Heal.
"We started Population Health because as we were listening to our core Medicare Advantage and Medicare Supplemental insurance customers, we gained some invaluable insight into the services they need most, like provider engagement scheduling. This partnership with Heal allows them to focus on providing great primary care to consumers and allows our Population Health team to focus on patient education, facilitation and engagement, while also reinforcing our core Medicare business by allowing us to assist customers in a variety of ways," said Bob Grant, President of SelectQuote's Senior Division. "Consumers will receive increased access to high touch care focused on quality and value. It's a seamless and unique engagement experience that will result in healthier and happier patients."
Through an expanded partnership, Heal and its current patients will have access to the entire Population Health ecosystem of providers and partners, with a focus on improving health outcomes while reducing overall cost of care. In particular, Population Health's medication management pharmacy, SelectRx, helps value-based primary care providers manage value-based risk contracts through enhanced alignment and coordination between the pharmacist and care provider. This includes a focus on medication adherence, patient education, and above all, proactive patient engagement. SelectRx's medication management model has achieved impressive outcomes with 95% medication adherence for patients taking diabetes, hypertension and cholesterol medications. Additionally, the performance has been recognized with a Five Star Pharmacy Rating on medication adherence and high-risk medication measures.
"This partnership emphasizes Heal's commitment to providing better omni-modal care, centered around the home, that's sensitive to addressing our patients' clinical needs as well as uniquely positioned to address their social determinants of health. At Heal, we are all here to make the biggest possible impact on improving the US Healthcare system," said Scott Vertrees, CEO of Heal. "Healthcare expenditures for seniors are on average over three times higher than other age groups, and we have the greatest opportunity to impact healthcare outcomes and reduce healthcare costs within this community. Our unique care model puts us in the best position to treat serious disease, help patients avoid hospital visits, and reduce the cost of care."
Population Health's collaboration with Heal provides an option for seniors, who are seeking regular primary care or who may have multiple chronic conditions, to have a primary care physician visit them from the comfort of their own home. Consumers can have a Heal physician visit their home, or they can utilize the company's digitally led solution. Through conversations with Population Health members, at least 41% have been to the emergency room (ER) at least once in the past 12 months. If they had been able to easily schedule an appointment with their primary care physician, many preventable, ambulatory sensitive ER visits could have been avoided.
Forward Looking Statement
This release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "should," "could," "predict," "potential," "believe," "will likely result," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "would" and "outlook," or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements.
Our actual results to differ materially from those indicated in these forward-looking statements due to a number of important factors, including, but not limited to, the following: the ultimate duration and impact of the ongoing COVID-19 pandemic; our reliance on a limited number of insurance carrier partners and any potential termination of those relationships or failure to develop new relationships; existing and future laws and regulations affecting the health insurance market; changes in health insurance products offered by our insurance carrier partners and the health insurance market generally; insurance carriers offering products and services directly to consumers; changes to commissions paid by insurance carriers and underwriting practices; competition with brokers, exclusively online brokers and carriers who opt to sell policies directly to consumers; competition from government-run health insurance exchanges; developments in the U.S. health insurance system; our dependence on revenue from carriers in our senior segment and downturns in the senior health as well as life, automotive and home insurance industries; our ability to develop new offerings and penetrate new vertical markets; risks from third-party products; failure to enroll individuals during the Medicare annual enrollment period; our ability to attract, integrate and retain qualified personnel; our dependence on lead providers and ability to compete for leads; failure to obtain and/or convert sales leads to actual sales of insurance policies; access to data from consumers and insurance carriers; accuracy of information provided from and to consumers during the insurance shopping process; cost-effective advertisement through internet search engines; ability to contact consumers and market products by telephone; global economic conditions; disruption to operations as a result of future acquisitions; significant estimates and assumptions in the preparation of our financial statements; impairment of goodwill; potential litigation and claims, including IP litigation; our existing and future indebtedness; developments with respect to LIBOR; access to additional capital; failure to protect our intellectual property and our brand; fluctuations in our financial results caused by seasonality; accuracy and timeliness of commissions reports from insurance carriers; timing of insurance carriers' approval and payment practices; factors that impact our estimate of the constrained lifetime value of commissions per policyholder; changes in accounting rules, tax legislation and other legislation; disruptions or failures of our technological infrastructure and platform; failure to maintain relationships with third-party service providers; cybersecurity breaches or other attacks involving our systems or those of our insurance carrier partners or third-party service providers; our ability to protect consumer information and other data; and failure to market and sell Medicare plans effectively or in compliance with laws. For a further discussion of these and other risk factors that could impact our future results and performance, see the section entitled "Risk Factors" in our most recent Annual Report on Form 10-K that, we have filed with the Securities and Exchange Commission, and our subsequent filings with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
Founded in 1985, SelectQuote (NYSE: SLQT) provides solutions that help consumers protect their most valuable assets: their families, health and property. SelectQuote pioneered the model of providing unbiased comparisons from multiple, highly-rated insurance companies allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin the company's success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources and routes high-quality leads. SelectQuote has three core business lines: SelectQuote Senior, SelectQuote Life and SelectQuote Auto and Home. SelectQuote Senior, the largest and fastest-growing business, serves the needs of a demographic that sees 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans. In 2021, SelectQuote expanded their business with the addition of Population Health, a healthcare services company, and SelectRx, a specialty medication management pharmacy.
Heal is the leading provider of in-home primary care, using technology to re-humanize the practice of medicine and deliver better outcomes for patients. With over 250,000 patient visits to date, Heal offers omni-modal care comprised of doctor house calls, virtual telemedicine visits, and remote monitoring. Offered throughout Illinois, Louisiana, New York, New Jersey, North Carolina, Georgia, South Carolina, and Washington State, Heal believes in making healthcare a more personal experience by delivering care in the safety and comfort of a patient's home. Through an easy-to-use app, website, or patient support hotline, patients can organize a telemedicine or in-home visit with a highly-vetted, board-certified and licensed provider, 365 days a year. Note that Heal does not treat emergencies. Heal is in-network with Medicare and most major Medicare Advantage plans. Heal investors include Humana, former Qualcomm CEO and Executive Chairman Paul Jacobs (who is Heal's Chairman of the Board), IRA Capital, Fidelity ContraFund, Jim Breyer, Lionel Richie, former Florida Governor Jeb Bush and others. For more information, please visit www.heal.com. Follow Heal on LinkedIn, Twitter, Facebook or Instagram.
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