Driving Membership Growth Through Competitive Pricing

THE CHALLENGE

Due to rising medical costs, increased demand for transparency within the marketplace, and competitor advances in pricing practices, a major Health Plan needed to modify its group rating methodology and pricing to stay competitive.

OUR APPROACH

Vynamic was accountable for defining, implementing, and ultimately communicating the new pricing methodology within the organization and to its customer base. Vynamic led the team in establishing scope, developing critical success factors, identifying assumptions and constraints, as well as communication planning, risk mitigation, and issue management.

THE RESULTS

Vynamic’s management of the strategic pricing initiative led to the successful implementation of our Health Plan customer’s new pricing program.

Some specific results achieved include:

• Creation of a new competitive market-segment rating and pricing methodology to support innovative customer-focused rating solutions
• Implementation of consistent processes and collaborative workflows across lines of business enabling quicker and more accurate responses to external customers’ inquiries
• Execution of a communication plan that successfully informed those affected by the change – both internal client groups and external customers
• Establishment of a coordinated, multi-functional change program that can be replicated for future successful large change initiatives