Medicare Retention Solution Pairs Social Determinants of Health and Machine Learning to Keep Members Coming Back
DENVER, July 9, 2019 – The average Medicare Advantage plan turns over about 10% of its members every year, and for a 100,000 member plan, that can equate to about $110 million in lost premium reimbursements as well as a decline in Star ratings. This is why retaining members is a top priority among health plans. Welltok’s Medicare Retention Solution has helped leading Medicare plans reduce disenrollment rates by up to 30%, improve disenrollment-related Star ratings from 2.5 to 4 and retain up to $97 million in premiums.
Today’s seniors have more coverage choices and higher expectations, making it essential for plans to proactively pinpoint members at risk for disenrollment and intervene. Welltok’s Medicare Retention Solution does exactly that by leveraging proprietary consumer data, including social determinants of health and machine learning. The analysis identifies key predictors, including copays, healthcare services utilization, available competitive plan options and demographic factors, such as number of adults in the household, voting status and affluence. This helps determine who would be most receptive to disenrollment prevention outreach and likely to stay with the plan. The solution then delivers a one-of-a-kind, personalized and year-round member experience designed to drive retention. Welltok also helps ensure plans stay compliant with the latest guidelines and industry-leading security standards.
“To support retention, we offer a coordinated engagement model that delivers a tailored experience designed to help plans engage and activate members, starting on day-one of enrollment,” said April Gill, vice president of market solutions for Welltok. “We also help plans know exactly where they stand with members, and when action is required to conduct targeted outreach effectively to retain members and improve satisfaction.”
Whether it is regulatory communications like an Annual Notice of Change (ANOC) or regular reminders of plan value and available benefits, Welltok brings it all together and makes it easy to personalize, target and measure impact. The result is a seamless experience built to keep members engaged, informed and active. Specific ways Welltok’s solution helps tackle disenrollment include:
Learn more about Welltok’s Medicare Retention Solution or request a demo here.
July 9, 2019
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