When your member decides to shop around for new health insurance, your plan loses out not only on current and future revenue, but a potential loyal brand ambassador as well.
What’s more, a high churn rate impacts brand value, risk adjustment, profitability and viability. So how can you hold on to your valuable existing members?
At NovuHealth, our approach to health care retention is simple: it begins and ends with member engagement.
Today, we’re releasing the results from our latest case study, revealing how we design intelligent member engagement programs—tailored to a plan’s specific needs and challenges—to produce engaged, loyal members.
Through our work with Medicare and Medicaid plans alike, we’ve seen time and again the strong connection between engagement and brand affinity. That’s because engagement programs create opportunities for positive communication across multiple touchpoints, and empower members to be better, more confident health care consumers. Ultimately, this has a big impact on consumer satisfaction and retention rates.
The proof? Our data shows intelligent member engagement strategies can singlehandedly reduce churn rate by at least half in the short-term—and increase retention by even more over the long-term.
Download the case study to see the full results, and learn how we boost retention and brand affinity—just like any good consumer loyalty program. Or, contact us to learn more about how we tailor rewards and engagement solutions to your member population using the latest in behavioral health science and health care data analytics.
NovuHealth is the health care industry’s leading data sciences and behavior change company, designed to enable health plans to better understand, motivate and connect with members. Leveraging rewards, incentives, personalized communication, and clinical and behavioral best practices, NovuHealth delivers high-value member behaviors. Visit us at novu.com.