Managing headwinds in the Medicare Advantage marketplace
A series of recent challenges have created significant headwinds that could adversely impact the financial success of Medicare Advantage (MA) health plans in 2023 beyond. These dynamics include risk adjustment audits, changes in how Star ratings are determined, increased competition for membership, a lower-than-expected reimbursement rate increase, an ongoing labor shortage and inflationary cost pressures. EXL Health, a trusted partner and analytics services provider to several of the largest MA health plans, has developed a summary of these challenges and offers insights for any health plan with MA as a significant part of their growth strategy.