In the ever-evolving healthcare landscape, reducing Medicare churn has become a top priority for health plans. To achieve this goal, VP of Strategy at Health Chain, Mason Burr, says it is crucial for health plans to adopt patient engagement tools that capitalize on the wealth of accessible member data. By creating a connected member experience and meeting the rising consumer expectations for personalized, curated care journeys, health plans can retain more members and become more competitive in the industry.
As emphasized during the Reduce Medicare Churn: An Effective Member Engagement Tool webinar, Payers need to take advantage of the vast amount of member data at their disposal. By utilizing advanced analytics and member engagement tools, health plans can transform this vast amount of electronic health records, claims information, demographic and member preferences data into actionable insights and personalized member experiences. A connected member experience is also crucial in reducing Medicare churn. Reducing churn is an important opportunity for health plans. A late 2022 American Journal of Managed Care article, noted that among new Medicare Advantage enrollees, almost 16% changed insurance within a year. Using data-informed and technology-enabled strategies to reduce churn was discussed in depth during the webinar. One speaker noted that by integrating various touchpoints, such as mobile apps, websites, call centers, and care management platforms, health plans can provide a seamless and consistent member experience. These actions improve member engagement, member retention and reduce the potential health care disruption resulting from member churn.