Insurance companies: from firing to hiring
I've talked about how to calculate Quality Incentives and Star-ratings for MLTC plans in the past. Nevertheless one of the questions we get often, besides the results by themselves or even the money, why is important to know ahead of time the projection of these results?
The answer is simple. When a plan gets good results on Quality Incentives, as the name says it, it receives money. How much? Well, it depends on the tier it fell. But this goes beyond just money: it about development, investment, allocation of resources, hiring new people, firing people and more.
When a plan knows with high accuracy how much money it can get 3 or even 6 months before de official results are released, they can take action.
In a positive way, if the plan will receive good money, it can open new positions, new departments or enlarge those that already exist. Make the decision to invest in marketing to increase enrollment. All these changes take time. That is why it is important to have a good projection long before the money arrives.
In a negative way, if a plan fails in getting good results, people are the first to suffer in any company. When economic resources are not available, human resources are the first in line for cuts.
Improvement of your plan does not only help the company, but it also helps employees.
We can help you and your plan to never suffer dramatic changes because of a lack of money or bad results.
We can work for you today planning ahead of time with data supporting decision making. We are experts in MLTC but if you any other problem in your company, we have worked in other domains inside insurance companies.
Stars-rating, Quality incentive, Risk and more.
Contact me firstname.lastname@example.org and be part of great changes!