Abstract
Siftwell is a predictive analytics managed service that works with community health plans to help them solve core business challenges. Our Member Churn Model identified members most likely to exit the plan up to 9 months in advance, and correctly identified non-renewing members over 90% of the time.
As health insurance markets become increasingly competitive, optimizing member retention – or reducing churn – is a key strategic priority for plans across all lines of business. Nationwide, average churn rates exceed 10% for Medicaid, 15% for Medicare Advantage, and 25% for Exchange plans. Churn rates are projected to significantly increase following the reinstatement of the redetermination process on April 1, 2023, and plans with Medicaid membership are busy engaging members to assess eligibility and match them with other products if needed.
Siftwell Analytics uses artificial intelligence and decades of managed care leadership expertise to help health plans identify their members who are most at risk for developing certain outcomes, including chronic and costly health conditions, churn from the plan, or non-compliance with HEDIS measures. By aggregating plans’ data combining it with Siftwell’s proprietary datasets, we help them look into the future and engage members before they impact their bottom line. Clients receive actionable, target-rich lists of members for outreach and interventions, plus specific insights on what those actions should be.
Our Member Churn Model identified members most likely to exit the plan up to 9 months in advance, and correctly identified non-renewing members over 90% of the time.
Key Benefits:
- Assess churn risk across all members, consistently and efficiently
- Understand underlying drivers of churn with precision
- Engage at-risk members earlier and more effectively
To learn more about how Siftwell is helping health plans minimize churn and maximize member retention, click the link or arrow icon below.
