The value of a 5 Star quality rating continues to be relevant to consumers and influences their attitudes and behaviors. Although some health plan managers doubt it, and some have evidence to the contrary, Deft Research’s Medicare Member Experience Study found that Medicare Advantage members enrolled in a 5 Star plan are much more likely to stay with their plan rather than switch to another. This is significant even when comparing plans with 4 or 4.5 stars.
Source: 2017 Medicare Member Experience Study, Deft Research.
This does not say whether or not the 5 Star designation was critical to consumer choice in the first place, but the evidence is strong that 5 Star plans have a better hold on their membership once the consumer is enrolled. By suggesting that 5 Star plans do in fact deliver a better member experience, it also indicates that Medicare’s quality rating system may be more than just an exercise in regulatory compliance.
Deft’s Medicare Member Experience Study examines how member retention contributes to the value of 5 Stars. Besides the financial benefits for both plan and member, there are also branding and retention benefits to be gained.
The 2019 Medicare Member Experience Study publishing at the end of August will examine trends in member engagement, satisfaction, retention, and loyalty. These key performance indicators are driven by carriers' approaches to communication plans, customer service, wellness programming, and care accessibility.
To learn more, download the Infographic: Understanding Medicare Health Coverage is Key to Improving Member Experience.