12 Apr Real-Time Monitoring of Medicare Advantage Star Ratings Throughout the Year

Enhance Star Ratings Next Year and Boost Revenue with the IMAT Flexible Payer Solution

Last fall, CMS released its 2023 Medicare Advantage and Part D Star Ratings, which showed a marked decline in overall ratings from the previous year.

With only 57 contracts earning five stars – down significantly from 74 the prior year – this was a major wakeup call for many Medicare Advantage plans. Shortly after the release of the 2023 Star Ratings, many payers reported declines in revenue and announced new plans for improving operational efficiencies.

Fast-forward to today, and something else is happening in the Medicare Advantage arena. A new report from Chartis shows that Medicare Advantage enrollment has increased by 2.7 million beneficiaries in 2023, while traditional Medicare enrollment is dropping.Quality performance is driving many of these new enrollments with nearly three-quarters of Medicare Advantage beneficiaries being enrolled in health plans with four or more stars in 2023.

In terms of the big picture, this means that Medicare Advantage plans need to focus on ongoing quality improvements throughout the year – not just leading up to when CMS unveils its Star Ratings in the fall.

Continued process improvement is critical to achieving this goal, as it enables plans to identify areas for improvement, implement changes, and monitor the effectiveness of those changes over time. Through continued process improvement, Medicare Advantage plans can continually enhance the quality of care provided to their members, resulting in improved health outcomes and higher Star Ratings.
This requires an ongoing commitment to quality improvement, including the allocation of resources and investment in technology and analytic tools to support ongoing monitoring and measurement of quality metrics.

By adopting a continuous improvement mindset and approach, Medicare Advantage plans can consistently deliver high-quality care and improve member satisfaction, while reducing healthcare costs.

Fortunately, the IMAT Flexible Payer Solution offers real-time dashboards for monitoring Star Ratings all throughout the year. This real-time intelligence allows payers to quickly pivot and develop plans for enhancing overall member engagement at anytime.

In addition, the IMAT Flexible Payer Solution helps payers to take a patient-centered approach to enhance overall member care by gaining optimal results from clinical data.

Designed to provide the back-end data aggregation services for boosting care, the IMAT Flexible Payer Solution helps health payers to increase care and disease management programs for their members, while also reducing readmissions.

Are you ready to boost care outcomes and enhance your overall Star Ratings? Please contact us to schedule a 20-minute demo of the IMAT Flexible Payer Solution with our experts who have a combined 40 years of experience in healthcare informatics.