Cavulus CEO says Gap Expected to Widen Between Top and Bottom-Performing Medicare Advantage Programs
HILTON HEAD, S.C., Nov. 3, 2021 /PRNewswire/ -- Patrick Phillips, CEO of Cavulus, a leading provider of technology in the Medicare Advantage (MA) industry, says he expects the next several weeks will widen the gap between top and bottom performing MA plans.
Between October 15 and December 7 is this year's Annual Election Period (AEP) for MA insurers to make their pitch to both newly eligible Medicare recipients as well as other current beneficiaries who might be considering a change in their coverage.
As the expanding wave of baby boomers continues to push over the age of 65, the number of private insurers competing in the MA space has mushroomed as well. Currently more than 26 million individuals are enrolled in a Medicare Advantage plan – representing 42% of the Medicare population. This is double the number of a decade ago, and according to the Kaiser Family Foundation, "the average Medicare beneficiary in 2021 has access to 33 MA plans – the largest number of options ever."
Phillips said,"every AEP can be a confusing time for beneficiaries." He notes it was precisely because of the increasing popularity of MA among eligible seniors, as well as mandates from the Centers for Medicare and Medicaid Services (CMS), that proper oversight of lead-generating activities, sales practices and the enrollment process be completed in accordance with all applicable requirements, that his company was launched.
"The industry needed a solution that combined sales performance management with CMS-compliant workflows," said Phillips, "and that was the impetus of the Medicare Advantage Platform that we created at Cavulus."
Over the past decade, Cavulus technology has been established as the industry's most efficient solution for customer satisfaction and industry compliance. In a recently published list of health plan rankings that reflect a plan's performance," Phillips wasn't surprised that Cavulus clients made up 20% of the top-rated MA insurers.
"Our clients continually become more analytical using our solutions," said Phillips. "They're able to proactively manage compliance, sales channels and allocate marketing budgets based on real-time information. They always know what's working and what's not."
For many other insurers, however, Phillips believes little has changed over time. "For these companies, marketing is siloed from the sales departments," he said. "Many insurers commonly add hundreds of outsourced call center representatives and independent insurance brokers to respond to beneficiary inquiries, and therefore, organizational leaders of those insurers don't have visibility into the touchpoints with potential members." As a result, the Cavulus CEO expects the gap between top and bottom-performing plans will widen.
ABOUT CAVULUS - Cavulus is a technology driven specialist in Medicare Advantage insurance solutions. The Cavulus Cloud-based Medicare Advantage Platform (Cavulus MAP™) unifies marketing, sales and enrollment operations, and is utilized by many of America's top insurers, including several BlueCross/ BlueShield companies, UPMC Health Plan, Johns Hopkins, Lumeris and United Healthcare. For details visit: www.cavulus.com.
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SOURCE Cavulus
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