3 Proven Strategies to Prevent Disenrollment
By Katie Kopansky
The average Medicare Advantage plan turns over about 10% of its members every year. For a plan with 100K members, this equates to about $110M in lost premium reimbursements.
While plans won’t ever get voluntary disenrollment to zero, a strong retention strategy can move the needle and make a big impact on your business. Saving just 1% of your members a year will result in approximately $11M in revenue – that’s a big deal!
3 Proven Strategies for Keeping Members Happy
Welltok has a proven track record of helping MA plans overcome common hurdles like data gaps, personalization, abrasion, budget and time. Here’s our winning formula for retaining members.
1. Onboard with a strong welcome campaign and collect their preferred method of communication in the first quarter of the year. Follow up with a quick pulse survey in April, so you can capture feedback and course correct before it’s too late.
2. Leverage analytics to prevent disenrollment with a mid-year disenrollment analysis to identify members at highest risk for leaving your plan. Follow up with targeted communications to address disenrollment drivers early on and minimize risk of voluntary disenrollment.
3. Provide targeted, personalized ANOC support by eliminating surprises for your members. Start with a change analysis to know what’s changing for which members, then deliver targeted messages (using varied communications channels) about them, using different campaigns for members facing no, low, moderate or disruptive changes.
Bottom line – member retention is high ROI strategy that you can't afford to ignore, and we have the capabilities and experience to help! Schedule time with me here to strategize together.
Welltok’s data-driven Medicare Retention Solution can help you minimize risk, retain more members and drive significant cost savings. I look forward to discussing how we can help you keep more of your members happy and reduce churn.