In our recent blog post on 5 Medicare Advantage Stats You Can’t Ignore, we discussed the rising adoption of MA plans and the nearly 47% MA penetration as of March 2021. With this increasing trend, the question that arises is, how can Medicare Advantage insights be used to improve the strategies of my post-acute business? In this blog post we’re covering the ways your agency can benefit from relevant, up-to-date, insight on Medicare Advantage to expand partnerships.
- Enhance Payer Transparency- with MA data, your organization has a full view of your market including local payer trends and referral patterns. These insights also include payers your competitors may be working with, giving them additional leverage to patients.
- Evaluate Your Payer Mix- MA trends and market transparency will allow your organization to evaluate payers you should be contracting with. From there, you can focus your time and efforts on the payers with the most penetration in your market.
- Identify New Referral Targets- With MA data you can identify the most ideal referral partners with high payer volume who should be your top targets. Without this information, you may be missing out on potential referral partners that work with payers you also contract with.
- Capture The Right Patients- If you’re not partnering with the right referral partners, you’re also missing out on their patients. Informing your partners that you can take their patients will improve your relationship and their confidence in sending you their patients.
- Evolve Your Strategy- Once you’re reviewed and reflected on MA insights and trends, you have the knowledge you need to create a strategic plan for your business. This plan can be built with confidence using transparency on your market to establish the right partnerships.
As Fee for Service enrollment declines and MA enrollment increases, your organization needs claims data on all payer sources, not just FFS. MA data and insights are a powerful resource to grow your network and increase market share for your organization. This data will ultimately eliminate any unknowns you have on your market, allowing your organization to make smarter business decisions.
Trella has Q4 2020 Medicare Part A & B FFS, Medicare Advantage and Commerical Claims data, equaling 90% of all covered lives in the U.S. for lives 65+. Our enhanced transparency gives you the tools you need to accelerate your business development and form better referral partnerships.
By tracking these trends over a four-year analysis period, we can get a clearer view of post-acute care industry trends. We can then compare data from 2019 through 2020 against previous years for a deeper understanding of overall market trends, the impact of COVID-19, and where opportunities lie for PAC organizations to grow their networks and gain more of the right referrals to continue improving patient outcomes while controlling costs.
To learn more about Trella’s Medicare Advantage data, request a demo.