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Cost Optimization for Medicare Advantage Plans

  • May 09, 2019
  • 2:00 PM – 3:00 PM ET
  • online
about

The Medicare Advantage market is becoming increasingly competitive with three of the largest plans garnering 55 percent of MA enrollment and new plans entering each Annual Election Period. In order to grow, MA organizations must drive down administrative costs while exceeding member expectations.

In this webinar, we’ll discuss the use of predictive analytics, sales distribution channel strategies, and lead nurturing practices that help drive down acquisition costs. We’ll also examine the use of technology and automation in reducing manual processing and avoidable errors in the enrollment and claims processes, and how all of these operations are integral in creating an unparalleled member experience.

Attendees will learn:

  • How the use of predictive analytics is focusing marketing spend, increasing close ratios, and reducing cost
  • The importance of unified prospective member messaging and the ability to enroll a member via their preferred method of engagement (including call centers, community seminars, brokers, and more)
  • The importance of lead reassignment tools during critical time frames such as AEP to minimize total member acquisition cost
  • The role of automation in reducing avoidable errors and why it’s critical to have real-time enrollment processes and efficient transactions with CMS that are strongly aligned to CMS chapter guidance
  • How to optimize claims straight-through processing leveraging automated business rules along with AI/ML technologies
  • How to reduce administration costs of provider contracts and implement innovative provider payment initiatives, including advanced capitation arrangements

Speakers


Srini Venkatasanthanam
Vice President for Products
Oracle Health Insurance

Srini Venkat is a seasoned healthcare industry executive and the Vice President for Oracle Health Insurance products within Oracle’s Financial Services Global Business Unit. Leveraging his 25 years of health insurance and IT product experience, Srini currently manages a dedicated team focused on delivering the next-generation Cloud applications that will transform the health insurance industry. As head of product marketing for health insurance, he focuses on strengthening Oracle’s presence in the global healthcare industry segment.


Sean O’Sullivan
Executive Vice President of Product
Cavulus

Sean has more than 15 years of experience working in the Government Programs niche of healthcare, with a particular focus on new member acquisition and retention in Medicare Advantage. Prior to Cavulus, Sean managed call center and business process outsourcing (BPO) services for some of the nation’s largest health plans. His technical expertise spans software design, computer telephony integration (CTI), Medicare Advantage member engagement and enrollment technology, to full-scale product design.

At Cavulus, Sean oversees engineering, architecture, research and development, infrastructure strategies, and execution models and he guides the strategic direction for our integrated solutions.