Expert Advice from Liz Schmittgens, health plan solution consulting director at Virgin Pulse.
This interview is part of Virgin Pulse’s Medicare Advantage Magazine for Health Plan Leaders. Check out the full issue here.
As Medicare Advantage health plan leaders look to grow market share, retain high-value members, and increase revenue potential, what should MA plans be planning for right now?
MA plans need to be flexible. This means offering different plan options so members can choose the one that best suits their needs, but also offering benefits and coverage to keep up with changes in healthcare. For example, plans should keep an on special needs plans (SNPs). While they only work for certain members, enrollment in SNPs has doubled since 2018.
2. Quality of Care
There’s a reason the saying is “quality over quantity”, not vice versa. Members want to know they’re getting the best possible care and that their healthcare needs are being met. Plans should focus on improving the care they provide by offering preventive care services and investing in new technologies to help promote these services.
Seniors love MA plans because they’re affordable. Plans need to keep costs down to stay competitive. That means working with providers to get the best rates and finding ways to provide high-quality care without breaking the bank.
Good communication is key to making sure members understand their benefits and how to use them. MA plans should invest in clear and effective communications strategies, like member education programs and user-friendly online tools. Members not only want but need to hear from you regularly with the right message and the right channel to take action and adopt the programs that will keep them from switching plans come October.
Embrace change or get left behind. Plans need to be open to technologies and approaches to healthcare, like telemedicine and remote monitoring. Check out the plans in Puerto Rico, with the highest level of Medicare Advantage penetration, for example! While they differ in population and regulations, there’s always something to learn from these successes to leverage for your service area and members. In fact, promoting cost reduction has been key to increasing adoption over the last 20 years. Think about how your campaigns can promote cost savings in your next round of member engagement and retention outreach.
“If MA plans keep these five things in mind, they can keep offering high-quality care to their members while staying competitive in a rapidly changing healthcare landscape,” shared Liz.
Learn more about these insights and how Medicare Advantage plans adopt data-driven retail strategies to improve the member experience during an upcoming AHIP webinar on October 30th at 1pm EDT. Save your spot for this discussion with three panelists:
- Jeff Yoshimura, chief product officer, Virgin Pulse
- Chris Bozic, vice president health plan and systems, Virgin Pulse
- Brooke Ossenkop, vice president demand generation at Virgin Pulse and former marketing, innovation, and customer experience leader at Blue Cross Blue Shield of Nebraska