Humana Inc. turned to Medicare managed care programs to scrape up revenue growth during the second quarter.[@@]
Humana, Louisville, Ky., is reporting $84 million in net income for the latest quarter on $3.5 billion in revenue, up from $80 million in net income on $3.43 billion in revenue for the second quarter of 2004.
Humana ended the quarter providing or administering health coverage for 7 million people, only 2.1% more than it covered a year earlier.
But Humana says its Medicare Advantage managed care program membership increased 29%, to 474,300. Some of the growth came from marketing, but more came from efforts to serve more markets, Humana says.
Humana plans to be offering Medicare coverage in 46 states by the end of 2006, up from 15 today, the company says.