Minneapolis, MN - (NewMediaWire) - May 12, 2020 - Carrot Health, the provider of MarketView™ – the first, largest, and most complete consumer and health analytics solution for health plan growth, health and quality – today announced 2020 Annual Enrollment Period (AEP) results for its Medicare Advantage customers. A significant majority (90%) of Carrot MarketView Medicare Advantage customers gained member enrollment, compared to just 65% of their competitors, and MarketView customers grew their member enrollment at more than double the rate of their competition.
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. Carrot Health data now supports the management of more than 20.5 million covered lives – including more than 15% of the nation's Medicare Advantage population – by leading national, regional, and local health plans.
The Carrot MarketView software and analytics platform harnesses clinical, social, economic, behavioral, and environmental data to deliver insights for growth, health, and quality, providing health plans with a 360-degree view of their members. As a result, during 2020 AEP, Carrot MarketView customers were able to leverage superior consumer behavior prediction, targeting, and outreach to outperform their competitors by a wide margin.
· MarketView customers saw net member enrollment growth of 7.1% – more than twice the rate of their competition.
· First-year MarketView customers saw average net member growth of 11%, compared with an average net loss of 3% in the prior year.
· Prospective health plan members that were targeted using MarketView models and insights converted at a 280% higher rate compared with consumers that were not targeted.
“Carrot Health predictive models and segmentation helped us successfully reach prospects most likely to engage in our 2020 AEP plan offerings, and deliver messaging that both resonated with target consumers and reflected our differentiated value in the market,” said Ari Schwartz, Director of Market Strategy and Customer Analytics, Health Alliance Plan. “Despite heavy competition, we achieved a double-digit increase in net enrollment for January 2020 and a 50% increase in sales from the prior AEP. MarketView has proven to be an incredibly valuable tool for our organization, and we are actively using it to inform and drive our Medicare growth strategy for this coming year.”
“With the predictive models and insights from MarketView, Carrot Health customers saw Medicare Advantage net enrollment outpace the overall market for 2020 AEP,” said Anna Younger, Vice President, Customer Solutions, Carrot Health. “Top-performing plans leveraged Carrot MarketView to forecast consumer needs and behaviors, design and market tailored plan offerings, and optimize enrollment and conversions. Our customers’ success in 2020 AEP clearly demonstrates that data-driven decision making can drive effective and efficient plan growth.”
Carrot MarketView supports enhanced collaboration with agencies and improved integration across marketing teams and partners, contributing to more efficient execution of recruitment and retention strategies. Added Younger, “As competitive pressures continue to rise, health plans that connected Carrot Health’s consumer analytics to their acquisition strategy and execution experienced dramatically higher growth rates than their competition.”
For more insights, key observations, and benchmarks across Carrot Health’s portfolio of customers for 2020 Medicare AEP, click here.
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, 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.