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Welltok Identifies Top Predictors to Acquire and Retain Health Plan Members

05:12 EDT 8 Aug 2017 | PR Newswire

DENVER, Aug. 8, 2017 /PRNewswire/ -- As open enrollment season approaches, health plans are conducting outreach to acquire and retain members. Welltok has identified the top predictors to target new and at-risk members, including home value, voting status, wealth and ethnicity. Based on this criteria and population-specific predictive models, health plans across the nation are successfully focusing marketing and retention activities for greater impact and results.

By analyzing customers' existing member profiles in combination with its proprietary consumer database of 275 million Americans, Welltok provides a deeper understanding of individual member needs and preferences. This informs outreach efforts based on consumer-level insights and prioritizes target lists, resulting in lower cost per acquisition and voluntary disenrollment rates.

The combination of advanced analytics and targeted multi-channel outreach has delivered measurable results for all types of health plans, including commercial, Medicare and Medicaid plans:

  • 3:1 return on investment (ROI) for a large regional health plan by identifying high opportunity prospects who were 3.2 times more likely to be acquired than average
  • 22 percent reduction in disenrollment rates for Medicare Advantage and Dual Eligible populations, and improved Star Ratings for disenrollment measure from 2.5 to 4 stars
  • 39 percent lower recertification failure rate among Medicaid-eligibles; Welltok's models successfully identified and targeted for intervention the top 25 percent that were 1.8 times more likely to not recertify
  • 25 percent decrease in disenrollment by women with families who received a plan value message about available wellness programs
  • 15 percent increase in membership driven by a targeted marketing campaign during Medicare Annual Election Period (AEP) with population-specific messaging

"We work with best-in-class organizations to differentiate themselves and avoid generic marketing techniques that can not only result in a poor ROI, but also damage their brand and future growth," said Phil Fiero, senior vice president of Welltok Analytics. "Our member acquisition and retention suite optimizes marketing spend by honing in on the right individuals and delivering personalized communications that achieve and exceed membership goals."

Welltok's Consumer Acquisition and Retention offering applies advanced analytics to obtain insights about individuals and determine their receptivity to a health plan's brand and products, or their likelihood to enroll or disenroll. Messages are personalized based on demographics such as ethnicity and gender, as well as other predictors such as household composition and purchasing behaviors. For example, once at-risk members have been identified, proactive multi-channel outreach (email, direct mail and automated calls) is conducted to promote plan value, collect Net Promoter Score (NPS), and connect members with agents to address questions and concerns. Personalized approaches like this not only increase member acquisition and retention, but also help refine benefit design to better serve beneficiaries.

To learn more about Welltok's Consumer Acquisition and Retention offering or the results listed above, please contact optimizedhealth@welltok.com.

View original content with multimedia:http://www.prnewswire.com/news-releases/welltok-identifies-top-predictors-to-acquire-and-retain-health-plan-members-300500842.html

SOURCE Welltok

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