Orlando, FL (Vocus) January 8, 2009
Facing unprecedented marketplace disruption - ranging from the employment-related decline of group coverage, to greater consumer autonomy in health insurance selection - the retention of individual and small group plan members is now a priority for the nation's health insurance companies. At some health plans, member turnover can run as high as 40% annually, eroding both member acquisition costs and plan profitability.
To address this critical economic issue, and to equip health plan executives with an understanding of new and innovative strategies and tools that can increase member persistency and improve competitive advantage, The World Health Care Congress Leadership Summits and ConnextionsHealth - a recognized leader in building consumer-direct capabilities for health plans - will present the Leadership Summit on Member Retention for Health Plans, on March 18-19 at Rosen Shingle Creek Resort in Orlando.
The agenda for this first-of-its-kind forum will feature several recognized authorities on member retention, including:
- Steven G. Auerbach, Executive Vice President at UnitedHealth Group, who is responsible for managing the end-to-end member experience at the nation's largest health insurance plan;
- Joanne Galimi, Vice President at Gartner Research, who is recognized as a leading analyst in the health insurance industry;
- Tip Kim, Co-Leader of the Healthcare Services Practice at L.E.K. Consulting, who has worked with many health insurers and managed care organizations on a broad range of strategic issues, including retention.
For decades, health insurance plans have operated largely as wholesale businesses, with revenues driven by group ("commercial") accounts. Customer service was important, but within this business-to-business (B2B) supply chain there was little necessity to build brand loyalty among group plan members, who had no choice of plans. But economic conditions, demographics and government involvement are rapidly changing the health insurance landscape. According to McKinsey & Co., by 2011 the fate of up to $600 billion of insurance premiums will be in the hands of individual decision makers, rather than employers. As a result, brand loyalty and reduction of member churn are now priorities for most health insurers.
Through interactive workshops, best practices showcases, keynotes from recognized authorities and panel discussions, attendees at The Leadership Summit for Member Retention will learn how to build, apply and measure an integrated and effective member retention program.
Topics will include:
- Exploring the core issues underlying member retention - why and when plan members leave and what can be done - proactively and reactively -- to increase persistency
- Designing and managing the member experience to extend persistency, reduce churn and increase the window of plan profitability
- Retaining and converting to individual coverage a greater portion of group members lost through corporate lay-offs, early retirement and dropped coverage
- Capitalizing on proven retention technologies - a wide range of innovations from simple to sophisticated to optimize retention strategies, reduce servicing costs and keep the most profitable members loyal
- Integrating retention efforts with member acquisition and service programs for increased ROI
- Utilizing and measuring incentive programs, personal wellness and disease management and their impact on member retention
- Understanding best practices in member retention from leading health plans - the challenges that were faced and solutions to overcome them
- Examining cross-industry applications of customer retention strategies - tactics employed by leading telecommunications and financial services companies
- Tailoring a member retention strategy, designed specifically for an established health plan, with a high likelihood of internal acceptance and success in the marketplace
For additional information, visit http://www.worldcongress.com/retention.
About World Health Care Congress Leadership Summits
The World Health Care Congress Leadership Summit Series addresses the most cutting edge issues for health care executives across a wide range of industry sectors. Designed to expand on topics discussed at invitation-only summits during the World Health Care Congress, this series offers new perspectives on established methodologies, and details solutions to foster innovation and change. For more information, please visit http://www.worldcongress.com.
ConnextionsHealth provides technology-based business process solutions for a long list of America's most highly respected healthcare organizations, including Kaiser-Permanente, Aetna, Caremark, Assurant and Coventry Health Care; helping them to acquire, retain and manage plan members. For information, see http://www.connextionshealth.com.