Carrot Health MarketView(R) Customers Dominate 2021 Medicare AEP Performance
Health plans utilizing Carrot Health data and sales models outperformed the competition during 2021 AEP in overall membership growth and retention rates.
MINNEAPOLIS, MN / ACCESSWIRE / May 25, 2021 / Carrot Health, a leading provider of healthcare solutions powered by consumer and claims data, announced today that health plans utilizing its Carrot MarketView® platform realized a 2021 Medicare annual election period (AEP) growth rate twice that of their competition. This includes average member retention rates of more than 95% across all health plan customers and new member conversion rates 5.2 times higher when Carrot Health predictive modeling was used.
New Carrot Health customers were particularly successful, with 73% outperforming 2020 AEP. Collectively, new customers grew memberships by nearly 4% during 2021 AEP, following declines in 2020.
“The Medicare 2021 AEP was a rollercoaster ride that was impacted by everything from the ongoing pandemic to a highly contentious presidential election. In the final analysis, it was clear the health plans that leveraged a comprehensive array of data were able to fine-tune their approach on member acquisition, conversion, and retention, and position themselves for success,” said Kurt Waltenbaugh, CEO of Carrot Health, pointing to the 117% increase in email marketing by health plan customers during 2021 AEP as one example of data-driven strategies to optimize performance.
Adds Anna Younger, Carrot Health’s Vice President, Customer Solutions: “Leveraging Carrot MarketView paid off in a big way for our customers during 2021 AEP. Accelerating the shift to digital marketing and deploying creative, data-driven strategies resulted in a stronger-than-anticipated performance in the midst of unprecedented market conditions.”
Carrot MarketView aggregates more than 80 clinical, social, economic, behavioral, and environmental data sources to provide the nation’s leading health plans-including four of the top 10-with a 360-degree view of their members. The platform also provides insights into how best to engage members and manage their health, as well as how to identify and drive growth opportunities.
Carrot Health is the only vendor delivering consumer insights, at scale, for every adult in the United States, along with individual-level social determinants of health (SDoH) scoring and monitoring, for the healthcare industry. This includes up to 5,000 individually identified variables encompassing consumer lifestyle and behavior, geocoding, and survey data.
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About Carrot Health
Carrot Health believes in enabling a future with no barriers to better health, for everyone. We believe that shining the bright light of data onto our disparities will help us, all working together, to improve health. We provide consumer insights for each and every individual person in the United States to engage patients and members, close gaps in care, and optimize performance for healthcare payers and provider systems. The Carrot MarketView® software platform incorporates social, behavioral, environmental, and economic barriers to health data to deliver a 360-degree view of the consumer, providing actionable insights to inform Growth, Health, and Quality.
MEDIA CONTACT:
Liz Goar
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SOURCE: Carrot Health
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