NovuHealth’s unique approach to engagement leverages rewards and incentives programs to not only help Medicare plans optimize the Medical Loss Ratio, but also boost Star quality ratings, improve member retention and satisfaction, and optimize costs.
MINNEAPOLIS, MINN (PRWEB) April 20, 2017
With CMS’ release of the 2018 final Call Letter, the continued and growing emphasis on quality performance and long-term health improvement requires plans to consider how they include the cost of quality improvement in their bid strategy, for this year and going forward.
At NovuHealth, the health care industry’s leading consumer engagement and behavior change company, the solution lies in reward and incentive strategies. The company reveals two key considerations for plans looking toward quality improvement in health care—and why intelligent member incentives should be at the heart of it all—here.
“As expectations keep rising, health plans that excel in quality and cost-efficiency will differentiate themselves in the market,” said Jordan Mauer, Executive Vice President of Marketing and Member Engagement at NovuHealth. “We’ve found that Medicare rewards and engagement programs can directly impact both of those efforts.”
Today, quality measures are not only vital to a plan’s success in the marketplace due to reputation, but also, with more than $3 billion in bonus payments in play for insurers, have a serious impact on plan bottom line. And in this landscape, a quality improvement strategy that does not include a robust focus on customer engagement is missing the mark.
NovuHealth’s unique approach to engagement leverages rewards and incentives programs—which fall under the umbrella of Quality Improvement Expenditures (QIE)—to not only help Medicare plans optimize the Medical Loss Ratio, but also boost Star quality ratings, improve member retention and satisfaction, and optimize costs.
NovuHealth is the health care industry’s leading data sciences and behavior change company, designed to enable health plans to better understand, motivate and connect with members. Leveraging clinical and behavioral best practices, rewards, incentives and personalized communication, NovuHealth delivers high-value member behaviors. Visit us at novu.com.