According to a little gem in this report, you might be.
Enrollment growth for Medicare Advantage in 2018 was strong but out of pocket costs and monthly premiums for beneficiaries dropped across the board.
This suggests that the growth isn’t as robust as it seems.
As an insurer, health system or clinician you must make sure you’re generating real value for your Medicare Advantage patients or they may not stay enrolled with you when their costs go up and the breadth of their coverage goes down.
What’s real value?
It’s not meeting arbitrary metrics—it’s giving them access to care on which they can rely and giving it to them when and how they want.
Metrics don’t matter. There are no STAR bonus payments for patients who disenroll from your Medicare Advantage plan.
Buying market share is a tactic to improve the appearance of value ahead of an assessment, like a sale, merger or a review of an executive’s performance by a board.
It’s no way to generate sustainable value.
If costs go up and enrollment goes down, the leaders of MAOs will still be able to keep their previous compensation in the bank.
But for those left behind who still depend on revenues to support their systems and lifestyles however it’s another story.
Use this time of plenty to develop deep relationships—patient-to-prime—and you won’t have to be concerned about this buying of premiums.
You’ll do well no matter what.