Survey Finds Health Plans are Invested in Growing Medicare Advantage Businesses
Latest Voice of the Market Survey by HealthEdge and market research firm Survata reveals that modernizing technology systems is a key priority for growing MA membership
Burlington, MA, July 31, 2019 – HealthEdge®, provider of the only integrated financial, administrative and clinical platform for health insurers, today announced the results of its latest Voice of the Market Survey, a June 2019 study of 201 health insurance executives directly involved in Medicare and/or Medicare Advantage lines of business. The survey, designed to understand how payers are addressing the influx of the increasingly demanding and tech-savvy baby boomer population, found that 92 percent of those who work exclusively in the Medicare or Medicare Advantage lines of business are currently growing, or plan to grow, their Medicare Advantage businesses at a faster rate than their traditional Medicare business. The full report of the survey findings is available to requestors by clicking here.
“As we move into the third decade of the 21st century, Medicare Advantage plans must keep pace with today’s seniors, who are more technologically savvy than the generation before them and who expect more from their health plans as a result,” said Steve Krupa, CEO of HealthEdge. “Our survey shows that organizations are investing more than ever in modernizing technology systems that will best position them to attract new members while continuing to meet the needs of current beneficiaries.”
Key findings from the study include:
- 96 percent of all HealthEdge survey respondents reported the value-based model of Medicare Advantage significantly or moderately factored into their desire to grow this part of their business, including optimizing value-based care programs.
- Many health plans struggle with internal challenges in keeping pace with growth, including technology and infrastructure limitations (25.4 percent of respondents) and a lack of organizational resiliency to change (21.4 percent).
- When asked to rank in order of importance the various factors that would help prepare for the influx of new, tech-savvy Medicare and Medicare Advantage lives, nearly 40 percent of survey respondents have prioritized modernizing technology systems as their first or second choice of action.
This survey was commissioned by HealthEdge and conducted by Survata, an independent research firm in San Francisco. Survata interviewed 201 online respondents between June 5, 2019 and June 17, 2019. For further information, email email@example.com.
HealthEdge® provides modern, disruptive healthcare IT solutions that health insurers use to leverage new business models, improve outcomes, drastically reduce administrative costs and connect everyone in the healthcare delivery cycle. Our next-generation enterprise solution suite, HealthRules®, is built on modern, patented technology and is delivered to customers via the HealthEdge Cloud or onsite deployment. An award-winning company, HealthEdge empowers health insurers to capitalize on the innovations, challenges and opportunities that await in the new healthcare economy. For more information, visit http://www.healthedge.com.