SAN FRANCISCO, June 11, 2021 (Newswire.com) - 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.
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."
Innovaccer helps payers and their provider networks better meet members' rising expectations for personalization, convenience and access with its powerful suite of payer solutions. To learn more, click here.
Innovaccer Inc. is a leading San Francisco-based healthcare technology company committed to helping healthcare care as one. The Innovaccer Health Cloud unifies patient data across systems and settings and empowers healthcare organizations to rapidly develop scalable, modern applications that improve clinical, operational, and financial outcomes. Innovaccer's solutions have been deployed across more than 1,000 care settings in the US, enabling more than 37,000 providers to transform care delivery and work collaboratively with payers and life sciences companies. Innovaccer has helped organizations integrate medical records for more than 24 million people and generate more than $600 million in savings. Innovaccer is recognized as a Best in KLAS vendor for 2021 in population health management and a No. 1 customer-rated vendor by Black Book.
For more information, please visit innovaccer.com.
Source: Innovaccer Inc.