Competitive Analysis
To ensure that your Medicare product strategy succeeds, plans must analyze demographic trends to determine what products the market truly supports and align benefits accordingly.
But without a complete knowledge of what your competition is doing, you're flying blind.
For over a decade, Gorman Health Group has performed competitive analyses for plans in every corner of the Medicare marketplace. Such upfront analysis also helps plans reduce member acquisition costs, boost marketing response rates, and boost close ratios -- while ensuring compliance with CMS marketing requirements.
Our demographic analyses go down to the zip code level, and feature age and income bands, ethnic representation, and dozens of other meaningful data points. With this baseline opportunity defined, we’ll then mine financial and enrollment data to help you zero in on the right strategy for that service area--- no matter how large or small. We will conduct market and consumer preference analysis to help you identify your segment markets (ie, low income, higher income, dual eligible, age-ins, conversions and member “poaching” from competitors). We’ll then define the opportunities that exist within each segment and position your products effectively for each segment. And perhaps most importantly, we can serve as a bridge between the operational areas of your company that must work together to achieve success: marketing, sales, finance, actuarial, et al.
We draw on the experience of our senior level consultants, combined with our proprietary Medicare Data Solution conduct our competitive and market analysis. Our team can also use Gorman Health Group’s proprietary financial proforma model to test various assumptions and variables, then forecast revenues and expenses across a three year period, taking into account various market considerations and competitive positioning.
For more information please contact us at 202-364-8283.
