HealthMine Releases Medicare Advantage Plan Bid Incentives Checklist
DALLAS, May 16, 2018
As Medicare Advantage plans prepare to file their plan bid for 2019 on or before June 4, HealthMine has created a starter checklist for member incentives designed to help plans meet success metrics as established by the U.S. Centers for Medicare & Medicaid Services (CMS).
HealthMine is the only member-centric clinical technology company with a platform that was built inside a Value-Based Insurance Design (VBID) health plan. Their programs incentivize Medicare Advantage members to take clinical action that increases Star Ratings, creates additional risk adjustment revenue, and cuts chronic condition medical costs.
The detailed starter checklist for plan bid includes five major sections to consider in Rewards & Incentives programs with a detailed checklist in each. Representative subject areas covered include Considerations for the overall incentive strategy, and Member incentive delivery and support.
Plans employing HealthMine’s guidance using its solution have experienced improvement in member-driven key performance indicators. Examples of clinical member action improvement include the following:
– 6% more likely to complete a preventive visit
– 8.4% more likely to manage their diabetes
– 4% more likely to be highly satisfied with their health plan
Said Brennan Collins, vice president of product at HealthMine, “Step one of success for Medicare Advantage plans is getting members to take clinical action, starting with going to the doctor to be properly coded for risk adjustment every year and complete Star Ratings-related screenings. Taking clinical action helps identify risks earlier and close gaps in care faster. The devil is in the clinical action details to assure plans can pinpoint the right members to target for intervention to achieve their goals as cost-effectively as possible. For Medicare Advantage plans it can help optimize revenue and lower cost.”
HealthMine is the only member-centric clinical technology company with a platform built inside a Value-Based Insurance Design (VBID) health plan specifically designed to identify risks earlier and close gaps in care faster. The HealthMine Automatic Health solution consists of a clinical analytics platform that generates insights and recommendations. It includes an application that gives plans continuous access to data, insights, and recommended interventions generated by the clinical analytics platform, prioritized by projected revenue and cost savings opportunities and the Personal Health Assistant consumer application that empowers plan members to manage their health anytime and anywhere.