Cost avoidance is more than just a way for Medicare Advantage plans to improve their bottom line; it gives them a competitive edge in a crowded market.
Even as recovery operations continue to thrive, health plans have sharpened their focus on prepayment technologies that can manage costs, optimize claims payments and ensure the care patients need is appropriately covered. As health plans invest in a technology driven approach that incorporates new, more robust data sources into their COB processes, they must find the right balance of recovery and a proactive approach that looks to solve root cause of incorrect payments that result from incomplete or inaccurate coverage information.
To stay competitive and meet consumer needs, Medicare Advantage plans may need to offer low-cost supplemental benefits that help them attract new members. A proactive COB strategy that addresses primacy order and eligibility can provide the means to fund these additional offerings.
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