Health IT Outcomes January 13, 2020
The health plan market is undergoing a drastic transformation. In the past, the competition had been lean with just a small number of payers. However, the market dynamics are changing. Since 2017, the number of MA plan choices per county has increased by 49 percent. The competition is said to grow even more in the coming years as more health plans are set to enter the market, owing to the fact that nearly 26 million baby boomers will age into Medicare through 2030.
Rising Cost Burden On Health Plans
With additional members, the “paperwork” and administrative costs are also increasing. A recent report revealed that there was almost a 6 percent increase in administrative expenses for MCOs in 2017. The...
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