Entries in Resnick, Lindsay (19)


2014 TOP 10 Watchlist

By Lindsay Resnick, January 21, 2014

Here's what's on this year’s radar screen for leading healthcare companies.

  1. Obamacare 2.0 Robust post-enrollment learning agenda to understand which customers came into the market, who stayed out, how they shopped, what’s their mix of risk, and new competitors to look out for.
  2. Risk Management Millions of underserved, high-risk health care consumers with unmanaged illness entering the insurance and medical delivery systems shiny new health insurance ID cards and pent-up demand for care.
  3. Quality Outcomes Providers of healthcare putting skin in the game with pay-for-performance risk sharing schemes moving healthcare toward outcomes-based financing system based on quality and clinical results.
  4. Chronic Care Next generation care management to deal with chronic medical conditions accounting for $3 out of every $4 of the country’s $2.8 trillion health care bill and 17 million boomers turning 65 over next 5-years.
  5. Personal Wellness  Consumers changing health attitudes and behavior to improve quality of life and find ways to reduce personal health expenditures as they are forced to take more individual healthcare responsibility.
  6. Connected Data Gathering, analyzing and interpreting consumer data to understand variations among market segments to develop a complete snapshot or “360° view” of customers to achieve true member engagement.
  7. Retail Healthcare Benefit standardization, regulatory constraints and price transparency commoditizing markets and neutralizing brands means new approaches to awareness, acquisition, activation, retention and loyalty.
  8. Mobile Health Always-on consumers expect any desired information or service is available on any device at a person’s moment of need; a mobile lifestyle now defines a customer’s way of connecting and interacting.
  9. Socialnomics Social media driven consumer communities for collaboration and communication that cut across every market segment and every aspect of the customer relationship, from sales to product to service.
  10. Customer Centricity It’s the new selling: engaging health insurance consumers with a superior, loyalty-based user experience; it’s guided by customer insights, cross-functional metrics, and championed by the C-Suite.

Keep a close watch on these impact trends to proactively managing change and stay ahead of your competitors.


Get Ready…ACA Superbowl

By Lindsay Resnick, January 23, 2013

Bring your A-game to both sides of the ball, it’s time to play game winning offense and defense. As ACA’s October 2013 open enrollment gets closer, winning health plans are focused on honing their direct-to-consumer marketing skills around retaining and acquiring membership.  It means getting into the Affordable Care Act game by protecting your base with tough defense, and preparing to put points on the board (aka new members) with aggressive offense.

DEFENSE: Retain the members you already have. Prioritize those that are the most valuable and create customized engagement strategies to keep them. Take a data-driven approach to understanding your most vulnerable “at risk” population within your Individual and Small Group businesses that can soon make individual choices.

Core objectives for health plan retention:

  1. Maximize retention of existing membership in both on and off Exchange products by minimizing the potential to lose Individual and Small Group customers to competitors.
  2. Leverage membership data and third-party intelligence to improve understanding of current Individual and Small Group customers.
  3. Communicate a timely and relevant message to existing membership, employers, and distributors to support retention by improving member engagement and building brand loyalty.
  4. Emerge as a trusted source for information regarding what health care reform is and what is means to those most impacted…Who’s eligible for what? What’s in it for ME?

OFFENSE: Get your share of the open enrollment “land grab”. Understand needs and attributes of various segments of new market entrants to optimize acquisition campaigns. Create on/off Exchange strategies to generate new leads and sales from individuals most likely to enter the market as a result of ACA’s disruptive events. Switching will be at an all-time high... make sure they switch to you!

Core objectives health plan acquisition:

  1. Increase sales opportunities to enroll a larger percentage of the individuals across all segments likely to purchase through public/private Exchanges and, small businesses SHOP Exchanges (e.g., uninsured, disenfranchised small group employees, subsidy eligibles, new Individual shoppers).
  2. Optimize and increase the use of database management and segmentation tools to improve targeting capabilities and gain a better understanding of the marketplace than your competitors.
  3. Work in tandem with your product development team to identify various product acquisition paths, mapping current portfolio to a post reform products. These product acquisition paths will be the basis for determining messaging and sales strategies.
  4. Deploy a new business direct response marketing tactics that blends push-based education with pull-based entry into your selling cycle. 

The future of health insurance belongs to the prepared.To achieve and sustain profitable growth, marketing strategies need to look very different going forward. They need to move from product-centric…see who buys it; to consumer-centric…understand how they engage.

Tomorrow’s health insurance consumer needs to be at the center of everything marketers do throughout the customer lifecycle.  An engaged consumer means connecting early and often, nurturing them into the sales cycle, keeping them involved through purchase, and delivering a superior customer experience. A balanced approach to customer retention and acquisition, supported by data-based intelligence and strong consumer engagement, will determine ACA winners.


Post-Election Health Reform: The Future Is Now

By Lindsay Resnick, November 7, 2012

A year from now you may wish you had started today.

The major hurdles to healthcare reform’s Affordable Care Act – June’s Supreme Court decision and re-election of Barack Obama – are now history. Obamacare is here to stay. While obstacles and legislative fixes lie ahead (regulatory definitions, implementation timelines, funding appropriations), advancing a strategy of “repeal & replace” is now off the table. Expect political wrangling to shift focus to more pressing issues facing the country such as sequestration, budget reconciliation, tax cuts, and 2014 mid-term elections.

For health plans the next 14-months will be an intense period of preparation, planning and positioning. Today’s health insurance marketplace: 154 million employer-based, 14 million individually purchased, 47 million Medicaid, 49 million Medicare, and 49 million uninsured – will see profound change. New operating rules—State/Federal Exchanges, premium subsidies, elimination of pre-existing condition restrictions, rating limitations, Medicaid expansion, tax assessmentsdemand new thinking!

Confidence is the feeling you have before you understand the situation.

A winning health reform strategy starts by knowing your customers (and potential customers) better than your competitors. It means a data-driven direct-to-consumer approach to maximize reform’s opportunities and buffer risks…whether playing defense to protect your membership base, or setting-up a marketplace offensive to claim your fair share of new customers with a short-term land grab under current rules, and then starting 2014 in a position of strength.

Why? With product standardization, regulatory constraints and price transparency leveling the playing field and neutralizing brands, health insurers need to refresh their approach to customer acquisition and retention. The center of power is rapidly shifting into the hands of the customer. Millions of consumers will be shopping for coverage and migrating between market segments. They’ll be talking about you, price checking you, and recommending you…or not. Tomorrow’s customers will have a wide-ranging choice, and they will determine your value. Forward thinking marketers are making sure existing and prospective customers are engaged in their health care decision-making as they seek support from branded, personalized resources delivered by trusted local partners. 

First movers may sometimes fail, but last movers don't survive.

Based on a health plan’s core customer segments, product portfolio range, and distribution channel mix every Plan needs to design a customized, strategically sound approach to survive, and thrive as Obamacare advances through its implementation phases (see attached). The clock is ticking.

To compete in the new customer-centric healthcare retail game, success will come from taking a 360° view of your customer, differentiating your brand position, moving from a B2B to direct-to-consumer marketing orientation, distribution outlet “retailization”, and most importantly, developing an actionable framework to serve as the roadmap for your health reform enterprise plan.


Health Reform’s New Customer Journey

By Lindsay Resnick, October 9, 2012

Health reform makes 2014 an important milestone for every health plan: market leaders protecting their turf and opportunists setting up for a land grab. At the same time, a value-based consumer experience has never been more important as the center of power shifts into the hands of the health insurance customer. The retailization of healthcare means consumers are in control and taking a new healthcare journey: budgeting for their health benefits, navigating care delivery, and recommending preferred health plans.

It’s time to anticipate and prepare for this new journey by putting a plan together built around a series of sequenced, deliberate action steps:

  • Know existing and prospective customers better than any of your competitors.
  • Build an actionable roadmap to secure a differentiated, believable market position.
  • Establish an arsenal of B2C marketing tools to reach, motivate and bond with consumers.
  • Integrate & optimize sales outlets (broker, worksite, telesales, online, mobile, retail).
  • Design a high engagement customer experience to drive retention and loyalty

A health plan’s ability to anticipate market shifts and prepare for strategic and tactical execution has reached a new level of urgency. Informed decision-making will separate winners from losers as companies manage through uncertainty. It calls for laser focus on two strategic imperatives:

  1. Protect and retain existing customers. With public and private health benefit exchanges now in hyper-speed development as a new distribution channel, plans need to deepen relationships with existing customers across product-lines, market segments and distribution channels. This means identifying and profiling a Plan’s most valuable and most vulnerable customers.
  2. Leverage “big data” to target growth opportunities. Across the country, the Affordable Care Act is expected to bring access to 30 million new customers; 24 million entering a new customer journey (aka Exchange), and possibly 16 million new Medicaid enrollees. Having a deep understanding of these prospective customers through demographic, attitudinal and behavioral data-driven segmentation is the only way to build an actionable, first-to-market sales and marketing plan.

In a retail healthcare marketplace it’s the consumer’s responsibility to deal with intimidating, complex benefit and health care decisions. Whether driven by reform or natural marketplace competitive pressures, if the cry for “personal responsibility” means asking consumers to step-up and take control of their healthcare destiny, they need to be educated in order to make smart, individualized choices. The burden falls on health plans to guide customers with a roadmap of relevant decision support.

To read more about preparing for health reform get KBM Group: Health Services’ newest Solutions Brief - Healthcare 2014: Leverage Opportunity Buffer Risk - Click Here


Fail to Prepare, Prepare to Fail

By Lindsay Resnick, March 27, 2012

For health plans looking at the period leading up to the Affordable Care Act’s 2014 big launch, it’s a critical time. We’re about to see the most jarring market reforms ever. Even with the uncertainty of the Supreme Court decision and 2012 election, can Plan’s really afford to sit on the sidelines and watch valuable time tick away? The retailization of healthcare is coming, and preparation is key.

Which of reform’s changes are going to stick…which will fade away? How will existing competitors react…which new ones will appear in your markets? Can you move from a B2B to B2C marketing culture?

Tough questions need to be asked (and answered) about legacy core competencies in tomorrow’s reformed marketplace. In other words, sustainability of your health plan’s value chain—the series of individual activities within your enterprise that when linked together, combine to add comparative value to a final products or services.

It’s time for a serious look at four critical areas of focus.  Here are some questions to spark internal debate and begin an ACA transformation assessment:

  1. Brand Position What’s your unique selling proposition in a reformed marketplace likely to see increased competition and disintermediation the individual and small group markets by Exchanges?
  2. Customer Segmentation Are you quantifying and profiling new customer segments that you’ll be serving in 2014: previously uninsured, pre-ex time-bombs, newly subsidized, abandon employees, Medicare boomers, etc. to be sure you have the right product mix?
  3. Customer Acquisition Are marketing’s multi-channel lead generation tactics (e.g., traditional direct response, digital, social media, mobile) being optimized across all distribution outlets (e.g., field agents, telesales, online, mobile, retail)?
  4. User Experience Is your health plan delivering a personalized customer experience driven by retention metrics and built around superior member engagement using a managed touchpoint discipline?

Retail healthcare, product standardization and price transparency levels the playing field. Health plans need to refresh their toolkit of customer acquisition and retention tactics. It means protecting and expanding relationships with their existing customer base across product-lines and market segments. And, to grow market share it means strengthening direct-to-consumer marketing tactics and bolstering sales distribution to facilitate (and influence) customer choice.

For a free copy of the Solutions Brief, "Healthcare Reform Readiness: A Transformation Toolkit", click here:  http://bit.ly/z3VLkE