Humana was founded in 1961, and was originally a nursing home company (Investor, 2013). David A. Jones, Sr. And Wendell Cherry were the founders (Investor, 2013). In the beginning, the company was called Extendicare (Investor, 2013). In the early 1970s the company moved into purchasing hospitals, and had become the largest hospital company in the world by the 1980s (Investor, 2013). In 1974 the Humana name was taken by the company, and in 1978 the size of the company was doubled because it took over American Medicorp (Investor, 2013). A fast-track plan was used throughout the 1970s, and during that time the company was opening one hospital every month (Investor, 2013). That is much faster than the norm for the industry, and Humana did something else very significant during that time. It developed a design for hospitals that used a double corridor instead of just a single one (Investor, 2013). In other words, there were patient rooms on both sides, all around the perimeter. The nursing and support systems were placed into the middle, which minimized the distance between nurses and their patients. That made patient care much more efficient, and helped nurses accomplish more in the time they had available to work with those patients. Improving patient care was a cornerstone of everything Humana was doing (Humana, 2011; Investor, 2013). In 1985, the Humana Heart Institute was built in Louisville (Investor, 2013). During the 1990s, Humana decided to spin off its hospital operations from the health care benefits segment of its company. In 1993, it accomplished this by creating Galen Health Care (Investor, 2013). That part of the company later merged with Columbia/HCA (Investor, 2013). Since the health care benefits focus of the company, there have been many changes and improvements. These included a mail order retail pharmacy (RightSourceRX, 2013), a business partnership with Virgin Group, and an education campaign for Medicare Advantage and a Prescription Drug Plan (Medicare, 2013; RightSourceRX, 2013). The company is clearly focused...
These are all vital because they work together to keep Humana moving forward in an increasingly global society. The people who work with a company are highly valuable (Sullivan & Sheffhrin, 2003). These include everyone from the top level executives all the way down to the smallest position. There is no employee who is really more important than another, because they are all needed in order to make sure that a company continues to grow (Sullivan & Sheffhrin, 2003). Additionally, a company is not able to continue to move forward without finances. The best ideas cannot get off the ground if the money is not there to advance them. Humana has been fortunate in this regard. It grew and developed so fast because it was making the level of money necessary to do this. Without that level of funding, it may not have grown into the large and important company it is today, which could have harmed a large number of people who needed its services.
The costs of raw materials continued to escalate as well, further impacting profitability. More environmental regulations - There are many industrial regulations on the steel industries including the Kyoto doctrine that concentrates on green-based government initiatives to save the environment. All of these regulations further increase the costs that Tata must incur to continue operating. Humana References Jaimy Lee. (2008, April). Humana engages public on health-sector solutions. PRweek, 11(17), 2. Retrieved February
Humana Order Humana's Corporate Finance Analysis In 1992, David Jones, the Chairman and Chief Executive Officer of Humana Inc. considered a major change within its integrated strategy of managing both hospitals and health plans because Jones thought about whether it still made sense for the company to jointly operate both hospitals and health plans, considering emerging trends within the healthcare industry within the United States. However, the Chairman/CEO felt there was more
To improve security procedures, annual compliance training for all employees is mandated at Humana. Humana has also been praised for its positive organizational attitude in adapting to HIPAA and SOX, although corporate officials acknowledged that some aspects of meeting regulatory goals were challenging. Still, compliance with both legislative acts has been portrayed by top management as 'good hygiene' in terms of patient security and accounting practices. There was none of
Healthcare System -- Linkages and Alliances The healthcare system is a complex but integrated system that allows patients, providers, pharmacists, insurance agencies, hospitals, and regulators to all come together so that the needs of each are met. This paper will select one healthcare delivery organization in the U.S. that provides care to patients and discuss the relationship between this organization and the other stakeholders in healthcare -- in particularly how it
Health Insurance Consumer Knowledge Do most people know everything about their health insurance plans? The two plans investigated for this assignment are Blue Cross Blue Shield and Humana, two of the most widely used and recognized health insurance companies in the United States. Do you think that in general most people know everything about their health insurance plans? The healthcare reform act of 2009 sought to make the healthcare system in the United States
career positions at Humana is product development. This can be a risky position particularly since it may involve working in an environment that contains substances that may be non-conductive to one's health. There are many controversial chemicals in some products and some individuals working with these can be at risk whether known or not. Products can be toxic or harmful. In Australia alone, exposure to hazardous workplace substances cause over
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