SelectQuote Offering Free Hearing Tests and Affordable Hearing Aids Through Population Health
April 07 2022 - 08:00AM
Business Wire
SelectQuote, Inc. (NYSE: SLQT) announced today a strategic
partnership with a leading hearing benefits provider to offer
high-quality hearing healthcare and hearing aid options at
affordable prices. The SelectHearing program will be offered
through Population Health, whose members will have access to
hearing education, products and dedicated Hearing Consultants.
Through its high-touch consumer focused engagement platform,
Population Health is uniquely positioned to help address the
undiagnosed and untreated hearing problem within healthcare. “We
feel this partnership will provide consumers access to high-quality
hearing aid technology and is well aligned to support a recent
announcement by the FDA of its initiative to improve hearing aid
access to millions of Americans,” says Phil Williamson, Vice
President of Business Development, SelectQuote. “We are committed
to improving the overall health and wellness of our members and
families through lower cost healthcare options and improvements in
health literacy.”
In a recent study1 led by researchers at Johns Hopkins School of
Public Health, older adults with untreated hearing loss incurred
substantially higher total healthcare costs compared to those
without hearing loss. Those with untreated hearing loss incurred
increased costs of $22,434 per person over a decade, an average of
46% higher than those without hearing loss. The untreated hearing
loss segment also had 3.2 more dementia diagnoses, 3.6 more falls
and 6.9 more depression diagnoses per 100 people over 10 years.
Hearing is a critical window to the world, and a key source of
intellectual and emotional stimulation. People who have untreated
hearing loss often withdraw from social opportunities, which can
lead to isolation, loneliness and depression. “Population Health’s
risk assessment findings illustrate that 21% of members indicate
hearing limitations that impact their quality of life,” says Heidy
Robertson-Cooper, Vice President of Healthcare Strategy,
SelectQuote. “Members share their hearing concerns with us on a
daily basis, and we’re excited to now have cost-effective hearing
aid options to support their needs.”
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.
About SelectQuote:
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 its business with the addition
of Population Health, a healthcare services company, and SelectRx,
a specialty medication management pharmacy.
1
https://jamanetwork.com/journals/jamaotolaryngology/fullarticle/2714049
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Matt Gunter Communications and Investor Relations SelectQuote,
Inc. matt.gunter@selectquote.com O: 913.286.4931
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