• Skip to main content

DistilGovHealth

DistilNFO GovHealth Advisory

  • Publications
    • Home
    • DistilINFO HealthPlan
    • DistilINFO HospitalIT
    • DistilINFO IT
    • DistilINFO Retail
    • DistilINFO POPHealth
    • DistilINFO Ageing
    • DistilINFO Life Sciences
    • DistilINFO GovHealth
    • DistilINFO EHS
    • DistilINFO HealthIndia
    • Subscribe
    • Submit Article
    • Advertise
    • Newsletters

Medicare Advantage Plans Struggle With Internal Challenges to Keep Pace With Growth

Share:

August 7, 2019

Many Medicare Advantage health plans (35%) struggle with internal challenges in keeping pace with growth, including technology and infrastructure limitations, according to results of its latest Voice of the Market Survey. In addition, 33.8% struggle with a lack of IT staff or resources to make necessary changes and 29.4% lack the in-house Medicare experts necessary to implement adjustments in response to business fluctuation.

The survey was commissioned by HealthEdge and conducted by Survata, an independent research firm in San Francisco. Survata interviewed 201 online respondents between June 5, 2019, and June 17, 2019.

Growth of Medicare Advantage

Medicare Advantage Plans Struggle With Internal Challenges to Keep Pace With Growth
by Fred Pennic 08/01/2019 0 Comments

Want to publish your own articles on DistilINFO Publications?

Send us an email, we will get in touch with you.

Medicare Advantage Plans Struggle With Internal Challenges to Keep Pace With Growth

Many Medicare Advantage health plans (35%) struggle with internal challenges in keeping pace with growth, including technology and infrastructure limitations, according to results of its latest Voice of the Market Survey. In addition, 33.8% struggle with a lack of IT staff or resources to make necessary changes and 29.4% lack the in-house Medicare experts necessary to implement adjustments in response to business fluctuation.

The survey was commissioned by HealthEdge and conducted by Survata, an independent research firm in San Francisco. Survata interviewed 201 online respondents between June 5, 2019, and June 17, 2019.

Growth of Medicare Advantage

More than 11,000 baby boomers turn 65 each day and enter the Medicare market. While sales and marketing to this population are important for growth, the survey found insurers are focused on other ways to grow their Medicare Advantage business. Medicare Advantage offerings have exploded in the last few years. After remaining flat for four years, the total number of Medicare Advantage plans increased 34 percent in the last two years to 2,734. The increased number of plans has expanded options for enrollees and created competition amongst insurers. The average recipient is able to choose between 24 plans in 2019, compared to 19 two years earlier.

The survey, designed to understand how payers are addressing the influx of the increasingly demanding and tech-savvy baby boomer population found that 92 percent of those who work exclusively in the Medicare or Medicare Advantage lines of business are currently growing, or plan to grow, their Medicare Advantage businesses at a faster rate than their traditional Medicare business.

Future Growth of Medicare Advantage Plans

The future growth of Medicare Advantage plans respondents expect to:

– Optimize value-based care programs (23.4 percent)

– Modernize technology systems to support business needs (21.4 percent)

– Invest in more people (20.9 percent)

– Design and refine high-performing networks or ACOs (18 percent)

– Ramp up sales and marketing efforts to attract new members (16.4 percent).

Attracting New Members to Medicare Advantage plans

When asked what steps organizations are taking to attract new members, respondents stated

– standard marketing and advertising to prospective members (27.4 percent)

– Social determinants of health (SDOH) (24 percent)

– incentives for healthy behavior (22.4 percent)

– appealing to tech-savvy digital consumers (14.9 percent)

– moving to new geographies (14.9 percent)

“As we move into the third decade of the 21st century, Medicare Advantage plans must keep pace with today’s seniors, who are more technologically savvy than the generation before them and who expect more from their health plans as a result,” said Steve Krupa, CEO of HealthEdge. “Our survey shows that organizations are investing more than ever in modernizing technology systems that will best position them to attract new members while continuing to meet the needs of current beneficiaries.”

Date: August 07, 2019

Source: Hit Consultant

Coffee with DistilINFO's Morning Updates...

Sign up for DistilINFO e-Newsletters.

Just a little bit more about you...
PROCEED
Choose Lists
BACK

Related Stories

  • TEFCA Must Align with HIPAA to Ensure Privacy, Stakeholders Tell ONCTEFCA Must Align with HIPAA to Ensure Privacy, Stakeholders Tell ONC
  • Slack is setting itself up for the $3.5 trillion health-care sectorSlack is setting itself up for the $3.5 trillion health-care sector
  • V.A. Prepares for Major Shift in Veterans’ Health CareV.A. Prepares for Major Shift in Veterans’ Health Care
  • Collaboration Software Supports California’s Ambitious ‘Whole Person Care’ PilotsCollaboration Software Supports California’s Ambitious ‘Whole Person Care’ Pilots
  • Migrant Insurance Rule BlockedMigrant Insurance Rule Blocked
  • Global Death Toll from Coronavirus Over 800, Surpassing Previous SARS OutbreakGlobal Death Toll from Coronavirus Over 800, Surpassing Previous SARS Outbreak

Trending This Week

Sorry. No data so far.

About Us

DistilINFO is media company that publishes Industry news, views and Interviews. We distil the information for you – saving time and keeping you up to date on your interest areas.

More About Us

Follow Us


Useful Links

  • Subscribe
  • Contact
  • Advertise
  • Privacy Policy
  • Terms of Service
  • Feedback

All Publications

  • DistilINFO HealthPlan Advisory
  • DistilINFO HospitalIT Advisory
  • DistilINFO IT Advisory
  • DistilINFO Retail Advisory
  • DistilINFO POPHealth Advisory
  • DistilINFO Ageing Advisory
  • DistilINFO Life Sciences Advisory
  • DistilINFO GovHealth Advisory
  • DistilINFO EHS Advisory
  • DistilINFO HealthIndia Advisory

© DistilINFO Publications