January 8, 2018
NovuHealth CEO Tom Wicka shares 3 ways engagement can drive Medicare Advantage program success
By now, it’s no secret that we believe member engagement is the key to driving Medicare Advantage (MA) health and performance. And as MA plans are poised to grow—as more Baby Boomers retire—the more essential engagement has become for both attracting and retaining these members.
So how can engagement be used to improve health, plus meet quality and retention goals? NovuHealth CEO Tom Wicka recently spoke with HIT Consultant on the subject—sharing practical engagement insights for MA plans.
Here’s a preview of the article:
“Though just a quarter of adults ages 50 to 64, and less than 40% of adults ages 65 and older, are current on preventive services such as mammograms and diabetes screenings, engaging individuals who are not proactive about their health can drive improvement in several ways.
First, engaged consumers are more motivated to take care of their health, make better day-to-day decisions, are more likely to keep appointments, tend to be more satisfied with their care, experience fewer complications and have an improved quality of life. They are also more likely to choose more conservative, less costly interventions, resulting in lower costs. One study found that individuals who were more knowledgeable, skilled and confident about managing their health and health care had health care costs 21% lower than those with similar medical conditions and lower levels of engagement.
Beyond that, reaching members who are difficult to motivate can pay off for MA plans because of bonuses awarded for higher Star ratings. Medicare Advantage Star quality ratings factor in retention and member satisfaction, which can account for as much as 26% of the score. In looking at the overall market, there is a correlation between a plan’s growth, member satisfaction and quality rating, with higher-rated MA plans accounting for the most growth: 66% according to Kaiser Family Foundation.
More broadly, a positive customer experience with a health plan that leads to word-of-mouth recommendations can increase a health plan’s sales by $491 million. The reality, notes Forrester Research, is that consumers talk to each other about their experience with their health plans as much as they do about their retail shopping experience.”
Questions or comments, please contact us.
NovuHealth is the leading healthcare consumer engagement company, offering rewards and incentive programs that improve consumer health and plan performance. NovuHealth applies proven loyalty and data science strategies and leverages its deep industry and regulatory expertise to motivate high-value consumer activities. Headquartered in Minneapolis, NovuHealth has worked with nearly 40 health plans and served more than 15 million consumers across all 50 states. Learn more at novuhealth.com.