KENNEBUNK, Maine--(BUSINESS WIRE)--As health insurance moves to a direct-to-consumer model, identifying where consumers are located and what health plan options are available in local markets is essential. The Affordable Care Act (ACA) is reshaping the industry and setting standards to ensure that consumers have coverage options in all geographies of every state in the U.S. Companies participating in the Marketplace (Exchanges) are using county market share and penetration rates to identify underinsured opportunities for Medicaid and Commercial market expansion. Accountable Care Organizations (ACOs) and the new Consumer Operated and Owned Plans (CO-OPs), which typically offer coverage in a specified area within a state, also have a need for local marketplace data. In a nutshell, the industry as a whole needs more granular health plan enrollment data at county and zip code levels, where available, to effectively leap to the next generation of health coverage.
Today’s data-driven world is propelling the use of data in business planning. No surprise, health plans and vendor stakeholders alike are relying more heavily on data to accurately analyze markets and make better business decisions. And better decisions result in greater operational efficiencies, cost reductions and overall reduced risk for insurers and contractors.
For more in-depth analyses of health insurance competition and market share, industry analysts typically rely on statutory financial statements and reliable estimates of health plan market share by county. Online databases such as Mark Farrah Associates' Health Coverage Portal™ and County Health Coverage™ are widely used for easy access to the latest health insurance market share and financial data. Mark Farrah Associates latest business strategy report, "ACA Driving the Need for Health Plan Membership by County" looks at why geographic granularity is essential when analyzing health plan enrollment data and what metrics are currently available at the county-level.
Visit the Analysis Briefs library on Mark Farrah Associates’ website to learn more: www.markfarrah.com.
About Mark Farrah Associates (MFA)
MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include County Health Coverage™, Health Coverage Portal™, Health Insurer Insights™, Health Plans USA™, Medicare Business Online™ and Medicare Benefits Analyzer™.
