Marketplace changes and evolving consumers have led to unprecedented opportunity for Blue plans.
Covantage Health Partners is an innovative, first-to-market approach to assist Blue plans looking to enter the Medicare Advantage market or seeking to strengthen their existing plans.
Forming a joint venture with Covantage Health Partners is the quickest and most cost-effective way to enter the market and grow your MA plan. With its affiliate, Advantasure, as the primary service provider for administrative, risk adjustment and quality solutions, Covantage will help plans accelerate implementation and achieve positive results in the MA space.
Is a joint venture right for my plan?
The MA market has grown rapidly over the last several years, and current projections show that trend continuing. At the same time, Blue plans across the country are being challenged in the market by national plans and missing out on these new opportunities. With the challenges that plans face, and the pace of growth the market is experiencing, taking the time needed to slowly build your operations is no longer an option. By partnering with Covantage Health Partners, your plan will benefit from a fully developed go-to-market strategy, a comprehensive suite of industry-leading technology products and industry expertise, meaning that you will enter the market at a full sprint; while others stumble to launch.
A joint venture may be the perfect solution for you if your plan:
- is looking to expand into MA in the near future,
- has recently entered the MA marketplace and needs to improve its operations,
- is struggling to maintain market share in the competitive MA space.
Our solution helps your plan:
- Reduce risk and manage financial exposure
- Control administrative costs and reduce initial investment and expenditures
- Eliminate the burden of maintaining and supporting operations and technology resources
- Reduces time-to-market and startup challenges by leveraging proven technology platforms, expertise and deployment strategy
- Receive higher Quality Bonus Payment and underwriting margins by potentially leveraging Covantage Health Partner’s ultimate parent company’s 4.0 Star rating
- Generate faster market penetration through joint marketing efforts
Our solution delivers:
- Comprehensive technology and service capabilities for enrollment, claims and billing functions plus risk adjustment and quality solutions and care management services
- Joint governance and ownership of the plan
- Potential for gainshare
- Shared oversight of operational, plan and financial performance
- Support for both start-up and established plans
- Structure and services designed specifically for Medicare Advantage and built to provide end-to-end capabilities
At Covantage Health Partners, we are committed to partnership, innovation and success in the MA market. To learn more, contact our team.