Medicare Advantage Organizations Seek Industry-Specific Technology Solutions To Propel Growth, Improve Member Satisfaction
HILTON HEAD ISLAND, S.C., May 5, 2021 /PRNewswire/ -- The consolidation of membership among the top-10 Medicare Advantage (MA) industry leaders has other MA insurer's pursuing a competitive edge via niche technology partners, says Patrick Phillips, CEO of Cavulus, a leading provider of technology in the sector.
Medicare Advantage insurers are seeking more responsive niche technology partners.
MA enrollment is increasing annually, but according to industry data, there's still substantial opportunity for growth. Only 43% of the nearly 63 million eligible people are enrolled in a Medicare Advantage plan. Industry analysis shows "the top ten companies in this segment collectively provide coverage for nearly 78% of the market."
According to Phillips, start-ups and smaller regional, provider-owned and university-affiliated insurers can differentiate themselves and propel growth through a more responsive approach to th market. "Because these insurers are nimbler, they can often provide better member experience through a more personalized approach," he said.
"In order to facilitate speed and responsiveness, Phillips explains "we're now seeing our industry turn away from global enterprise IT providers to Medicare Advantage-specific technologies like Cavulus."
Former Cleveland Clinic CIO Ed Marx has identified this trend pointing out that healthcare companies that once had enterprise capabilities because they believed it made good economical and workflow sense, now "in this age of disruption, age of digital, are (moving) back to best of breed. You have to be willing and be agile enough to accept the fact that these enterprise partners don't have all the answers."
Ed McCallister, SVP and CIO at UPMC oversaw the decision to build, buy, or extend existing enterprise-wide capabilities in 2016, but ultimately selected Cavulus. "We carefully consider the addition of external partners, but it made sense to have a best-in-class solution that focused exclusively on Medicare Advantage, which is a fast growing segment of our industry. We wanted to serve this line of business with a dedicated, mature, and purpose-built platform that supported the majority of our needs out-of-the-box."
ABOUT CAVULUS - Cavulus is a technology driven specialist in Medicare Advantage insurance solutions. The Cavulus Cloud-based Medicare Advantage Platform (Cavulus MAP™) unifies marketing, sales and enrollment operations, and is utilized by many of America's top insurers, including several BlueCross/ BlueShield companies, UPMC Health Plan, Johns Hopkins, Lumeris and United Healthcare. For details visit: www.cavulus.com.
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