IRVING, Texas–(BUSINESS WIRE)–The Health Plan Alliance (Alliance), in collaboration with Faegre Drinker Consulting and the Wakely Consulting Group, is happy to announce the launch of its Medicare Advantage Consortium (MASBC) for Plan Year (PY) 2024. MASBC PY 2024 will concentrate on product innovation and “Medicare Advantage (MA) strategic bid” work extra broadly. As earlier than, the Consortium will present a discussion board for well being plans to guage potential supplemental advantages for MA plans and supply sources to help plans with implementing them. This 12 months, the Consortium’s fourth below the Alliance, the consortium mannequin options member-to-member collaboration amongst community-based MA well being plans throughout the nation, data-driven case research from distributors specializing in supplemental profit administration, and features a pilot venture on supplemental advantages analytics reporting, benchmarking, and evaluation.
The Health Plan Alliance helps practically 50 regional well being plans in non-competing markets that work with each other and their supplier networks to enhance managed care of their communities. “The MASBC is consistently one of the most popular offerings within the Alliance value portfolio because it centers the connection between efforts to impact social drivers of health and achieving desired clinical outcomes,” mentioned Kristin Rodriguez, Health Plan Alliance chief working officer. “We anticipate this year’s Consortium will empower provider-sponsored and community-based MA plans to develop offerings that meet their communities’ needs and support their provider partners’ work.”
The MA program is quickly rising – enrollment now tops 26 million —powered to an incredible extent by new supplemental advantages that enhance plan attractiveness, member expertise, and medical outcomes. With Baby Boomers growing old into Medicare and the COVID-19 public well being emergency altering healthcare expectations, that is an particularly necessary second for MA plans to evaluate and replace their advantages technique.
“The Consortium’s value proposition is very simple. Members gain access to more new ideas and expertise collectively than any one plan would ever purchase individually,” mentioned Mike Adelberg, principal at Faegre Drinker Consulting and a former senior MA regulator for the federal authorities. “We took on a number of unconventional benefits last year and look forward to pushing the envelope further this year.”
Tim Murray, an skilled Medicare actuary and director at Wakely Consulting Group, agrees. “Adoption of the newly permissible benefits has so far been limited but has been growing exponentially each year since 2019. I look forward to working with Consortium participants as the industry advances from the experimentation phase to the efficacy measurement and optimization stage.”
The Consortium will likely be comprised of 30 provider-sponsored and regional well being plans from the Alliance membership. It contains a number of of the highest high quality plans in the MA program. Consortium actions kick off this month and can proceed by means of the finish of 2021.