How to Drive Member Retention and Acquisition for 2020 AEP

Published on March 15, 2019

During the most recent AEP, 80% of health plans that used Carrot Health’s MarketView platform, data modeling and segmentation for 2019 AEP outperformed their competitors in comparable markets. Our customers saw 7.8% net growth compared with competitor losses of -2.7%. In addition, they realized 460% year-over-year growth when comparing 2019 with Carrot (7.8%) to 2018 on their own (1.7%).

How?

They thrived during AEP because they harnessed the right data. They “won” by gaining a detailed understanding of key audiences within the Medicare Advantage population: their own members and potential new customers. In one market, for example, 70+% of new AEP sales came from the top two deciles of Carrot Health’s “Likely2Be a Customer” model.

Here’s an overview of our process:

  1. After a kick-off and data transfer, health plans participate in collaborative strategy development with Carrot Health.
  2. We build “Likely2” models specific to each customer and conduct opportunity assessments based on market dynamics. (Carrot’s Likely2 models have been delivering a response rate lift well above national models: ours at 4.69x; national at 1.56x).
  3. Based on this intelligence, health plans develop their AEP marketing campaigns and messaging, using MarketView Essentials for list generation and further targeting based on demographic, psychographic and social determinants of health (SDoH) information.
  4. During AEP, daily CRM and member enrollment feeds sent to Carrot Health help our customers monitor performance and make real-time adjustments.
  5. MarketView dashboards provide detailed analyses at the conclusion of AEP. These include “stayers/leavers” profiles and a campaign performance analyzer.

Carrot Health is a trusted partner through it all – from strategy to custom modeling and segmentation, from list generation to daily AEP reporting outcomes.

If you’d like to see how our unique approach can help you achieve your 2020 AEP marketing goals, we invite you to join us March 27 at 1 p.m. EDT for a free webinar. Attendees will learn how Carrot Health’s unique approach – including custom models and hyper-local consumer segmentation – generate response lift, drive acquisition costs down and bump conversation rates up.

Register now.

For additional information about how we’re helping insurers “win” AEP, visit our recent blog post about our AEP Winners/Losers Dashboard.

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