Innovaccer Unveils Healthcare’s First Health Plan Analytics Tool to Give a Comprehensive View of Over 700 Medicare Advantage Plans Across the US
- The Tool Allows Payers to Assess the Performance of the Medicare Advantage Plans and Gain Insights to Improve Quality Measures, Boost Enrollments, and Tap Into New Opportunities.
Innovaccer Inc., a leading healthcare technology company, recently launched its Health Plan Analytics tool, which provides a comprehensive view of health plan performance across the country. With this tool, payers can identify the quality parameters where they lag and determine the performance threshold to attain satisfactory ratings and enrollment. In addition, the tool generates state-by-state market insights to develop strategies to increase penetration.
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Between 2019 and 2020, Medicare Advantage (MA) plan enrollment grew by about 2.1 million, and it is expected to increase by another 51% by 2030. As a result, payers need new strategies and competitive offerings to attract enrollees and retain existing members.
With the Health Plan Analytics tool, payers can compare their MA plan’s Star Ratings and enrollment with top-performing health plans to identify areas for improvement, engage members, and maximize market share.
Innovaccer’s Health Plan Analytics tool provides micro as well as macro-level views of the health plan market. Beyond specific parameters for boosting performance ratings and enrollments, it also reflects the number of eligible beneficiaries and actual enrollments in each county, revealing new opportunities for market penetration. Health plans can gain a distinct view of the top-performing plans in their state and their beneficiary enrollments, care quality, and member engagement metrics leveraging the tool. These insights can help them formulate strategies to improve their performance, engage members and maximize their market share.
“With the Health Plan Analytics tool, we’re giving payers detailed reports of the national and regional health plan trends that can help them develop personalized strategies,” said Abhinav Shashank, CEO and Co-founder at Innovaccer. “We’re helping health plans achieve maximum operational and cost efficiency.”
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