For Medicare Advantage (MA) organizations, the stakes are high in today’s increasingly competitive environment, where savvy consumers who are dissatisfied with their plan have no shortage of options to choose during open enrollment. This environment demands excellent performance in the annually released Star Ratings. Good Star Ratings yield significant benefits for a plan in the form of bonus payments and improved enrollment, while low ratings can be a competitive disadvantage, yield financial penalties, and even lead to termination.
If you’re one of the many plans who experienced lower scores or stagnant performance in the 2023 Star Ratings, implementing the right solution to drive better results is critical—as we discuss in our on-demand webinar.
Discover your roadmap to reach and maintain better Star Ratings with Star Intelligence, a predictive new Stars solution, with optional Quality Intelligence integration, that empowers plans to understand and prioritize the actions needed to offer better care to a growing Medicare Advantage population and to optimize bonus payments. The solution leverages advanced predictive analytics, highlighting opportunities for growth through predicted cut points , measure predictions, and end-of-year contract rating predictions.
“For Medicare Advantage plans, the importance of achieving a Star Rating of four or higher cannot be overstated—and makes a significant impact on member recruitment and retention,” said Emad Rizk, M.D., chairman, president, and CEO of Cotiviti. “In the wake of COVID-19, the Centers for Medicare & Medicaid Services (CMS) introduced several provisions that led to an unprecedented improvement in Star Ratings for plans across the country. With the temporary changes now removed and a more accurate methodology for documenting plan performance reestablished, many plans saw lower performance in the recently released 2023 Star Ratings. Amid these challenges, Medicare Advantage plans need a powerful tool such as Star Intelligence to regain their footing and find the most direct path to improvement.”
I hope you can view our webinar as we give a sneak peek into Star Intelligence and review its capabilities that enable health plans to track, predict, and model their Star Ratings. You’ll learn how you can:
- Access a one-stop shop for HEDIS® quality and Stars management
- Get a clear view of progress with trending and benchmarking dashboards
- Leverage analytics that offer measure prediction, EOY predictions, trends, and opportunities for growth
- Get reliable insights through predictive cut points built into advanced analytics
Star Intelligence gives plans the ability to track, predict, and model their Star Ratings to better understand and prioritize actions needed to offer high-quality care to a growing Medicare Advantage population as well as optimize bonus payments. With this new solution, plans can improve their star ratings and see higher returns. An increase of just half a star improves a plan’s quality bonus by an average of $400 per member per year, according to one recent analysis by Boston Consulting Group.
Watch the webinar for the opportunity to set your plan up for Star Ratings success in 2023 and beyond.