When processes aren’t being managed properly, health insurers suffer – and so do their profit margins. This is especially troublesome come Medicare’s Annual Election Period (AEP).
Payers are moving quickly now as September 30 is the deadline to have all AEP materials out to members – and there is no room for mistakes. It’s important for health payers to get it right as they battle the uncertainty that comes with communication development delays – and the high penalties resulting from process errors. What is certain is that The Centers for Medicare & Medicaid Services (CMS) does not give payers more time or an extended deadline after the initial templates are released in March.
Developing and updating member materials to stay ahead of compliance regulations – and tight deadlines – can be a nightmare with several rounds of reviews, changes, and approvals across several areas. With increasingly strict regulations to deliver more accurate and timely benefit information, health care and health insurance organizations need to be able to move with precision.
Our team understands how the stress of a missed deadline can affect not only the payers’ ability to get their work done efficiently, but also affect their business as a whole. After all, a missed deadline for critical health plan communications can lead to fines, loss of business, penalties associated with inaccurate information and – worse of all – a blow to your reputation as maintaining CMS’ star-rating bodes high on the list for members.
As you wrap up this year’s AEP, what are the things you want to change?
Luckily, our team has experience working with health payers during this busy time and have witnessed its many changes and updates since the infancy of Medicare. We sit down with you to provide visibility, and standardization within your processes to better support your environment and enable success. With the right tools, you can begin to truly understand your resources, processes, and bottlenecks – giving you the ability to learn and be proactive.
Blue Relay Offers:
- a centralized method to collaborate;
- a real-time, fully-visible dashboard that identifies areas of urgency;
- shortened review process/cycles;
- custom reporting to meet strict SLAs;
- the ability to quickly and accurately identify changes between document versions with smart comparison tools; and
- tools to improve accuracy and reduce the risk of non-compliance.
Best of all, you’ll gain the confidence needed to conquer the AEP, backed by an experienced team who work with you to utilize the solution year over year – all the while providing ongoing training and modifications to your workflows as needed.
Sleep better knowing your AEP deadlines will always be met and your members will be better served with help from Blue Relay.
Struggling to keep ahead of your AEP deadlines? Contact an expert today.