Prospecting for members
A senior healthcare practitioner explains how analytics can provide a disruptive model that will help health insurance organizations swing into high gear in the area of member acquisition. This shift from the traditional approach to the new approach will make the member acquisition process more dynamic and cost-friendly. Implementing best practices culled from other sectors (e.g., banking, insurance and retail) is the key to making this transition successful. The article also considers marketing approaches capable of dealing with the twofold challenge in member acquisition: acquiring the maximum number of members in the most cost-effective manner (with a popular A/B testing method); and effectively reducing the risks associated with acquiring a population with pre-existing conditions.
Published with permission of Best's Review. Copyrighted A.M. Best Company, Inc. 2012.
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