BURLINGTON, Mass., Jan. 16, 2014 /PRNewswire/ -- Predilytics™, the advanced predictive analytics company dedicated to answering healthcare's toughest questions, today announced the immediate availability of its Consumer Acquisition Suite, designed to optimize the acquisition and retention of members for health plans.
Driven by the implementation of the Affordable Care Act (ACA) and the rapid consumerization of US healthcare, targeted member attraction and retention efforts are becoming increasingly important to health plan economics and to member satisfaction. This places a premium on advanced predictive analytics to drive consumer marketing and communication strategies to a new level of accuracy, efficiency, and effectiveness.
The Predilytics Consumer Acquisition Suite combines predictive capabilities with a consumer-oriented approach that helps safeguard sensitive and protected member information.
Predilytics Consumer Acquisition Suite offers the advanced predictive insights needed to guide effective consumer marketing and communication strategies throughout the customer lifecycle, and informs product design to maximize the clinical and financial leverage and ROI of these efforts. The solution:
- Provides analytics that identify individuals who are most likely to be attracted to specific product offerings, and those most likely to enroll.
- Allows plans to precisely target members at risk of disenrollment, and the reasons why, pointing to specific predictive factors to drive outreach strategies and retention campaigns.
- Offers insight on product design, including price sensitivities and key product features that affect enrollment and disenrollment.
"Predilytics' advanced models have shown us how to more effectively target new members – their models were able to identify prospective members four times more likely than average to respond to our offers," stated Owings Stone, Director of Marketing for Tufts Health Plan, in Boston, MA. "Understanding the factors that predict enrollment helped us more cost-effectively focus member acquisition strategies."
"The health insurance market is becoming increasingly consumer-driven and retail-oriented, and more people than ever will be signing up for individual plans," summed up Chris Coloian, Predilytics President and CEO. "By applying analytics proven by years of demanding use in other industries, Predilytics is able to improve the ROI in acquiring new members and avoid the high costs of replacing disenrolling members. By giving health plans insights at the level of individuals, they can precisely target their efforts to maximize clinical and financial outcomes."
Predilytics is an advanced analytics company, the first to commercially employ in healthcare the analytic techniques and processes that have demonstrated proven, long-term success in such demanding industry sectors as financial services and consumer acquisition and engagement.
Predilytics applies patented machine-learning analytic tools to transform healthcare "big data", and to point the way for healthcare organizations to optimize and precisely target care delivery, increase their revenue, control costs, and improve population health. Founded in 2011 and headquartered outside Boston in Burlington, MA, Predilytics is backed by investments led by Flybridge Capital Partners, Highland Capital Partners, Foundation Medical Partners, and Google Ventures.
© 2014. Predilytics, Inc. All rights reserved.
SOURCE Predilytics, Inc.