The Medicare Advantage market is growing, ripe with opportunity for insurers. Propelled by an aging population and a growing preference over fee-for-service plans—enrollment is on the rise, expected to grow from 35% of Medicare members to between 45-55% by 2025. And, it’s not just growth in the number of enrollees. Revenue is also on the rise, set to increase by 7-9% annually.
The market is very attractive, but you’re not the only one eyeing it. Now is the time to expand your product offerings and capture more market share. Unfortunately, scaling your operations has proven more challenging than expected. The primary reason? Your process for creating and managing benefit plan materials is broken and holds you back.
If you’re like most organizations, managing your Annual Notice of Change (ANOC), Evidence of Coverage (EOC) and Summary of Benefit (SB) documents is a slow, manual, and error-prone process. The process places a heavy burden on teams to complete updates on time, on budget, and free of errors. In fact, this is often cited as the primary barrier to expansion—organizations simply cannot add to the burden these teams already bear completing annual plan updates.
To grow your business in today’s competitive market, you need to break free from this cycle.
The Healthcare Touchpoint Exchange makes this possible. Purpose-built for Medicare Advantage Organizations, it provides an intelligent and automated platform that significantly reduces the time and effort required to create, update and manage your ANOC, EOC and SB documents.
The solution builds CMS model documents for you and easily incorporates you plan data from the Plan Benefit Package (PBP) database—eliminating your need to apply these changes manually. It leads your team through a fully guided, intuitive process for entering custom plan information. In addition, the QA module automates the tracking and reporting of all stakeholder activities enabling side-by-side comparisons, year over year, so you can clearly see where changes have been made.
Imagine a world in which you decide to enter a new market. You want to create an ANOC, EOC and SB document set and can do so—in only a fraction of the time previously required! With Messagepoint, this is the reality. With a few simple steps you can generate 508 compliant plan materials quickly and accurately. And, with all the time you gain back, you can finally focus your team on revenue generating activities. The Medicare Advantage market is hot, its growing, and now you can take action to scale your business and capture more of it.
It’s time to take charge and take the leap and consider document automation for Medicare Advantage mandated communications.
Contact us to learn more and see a demo.
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