Health insurance companies have huge appeal. Customers spent over $1.8 trillion on health insurance in 2020. That figure is likely to reach over $3.4 trillion by 2027.
Ever since the COVID-19 pandemic upended our lives, preventative healthcare has never been more of a priority. A lot of health insurance companies have already integrated an OTC benefit into their health plans in an attempt to support the most vulnerable segments of the population. Health plans get access to the four-fold secret of retaining the membership allegiance by adopting the OTC benefits solution with OTC Stores’ service and benefit administration. However, simply adding over-the-counter benefits doesn’t ensure the growth in members’ loyalty and retention, nor cuts costs for health plans.
Exceptional
Simply providing good service might be enough to enroll new members. This is largely because the health insurance market has become so concentrated. To make your health care plan more attractive to purchase, you need to ensure a few critical ingredients: exceptional care is one of them. Unique customer experiences transmitting a heart-warming feeling of pure empathy is the key to making your healthcare program valued.
Value for members
Feeling cared for is essential for people who seek attention and professional advice. When it comes to client interaction, creating the right ambiance is the key. This is why healthcare providers take great steps to improve their relationships with their patients with things like online messaging.
To achieve this, most importantly is not to rush a client. To provide an unmatched experience, customer service representatives require adequate training, job competency, and an empathetic approach. All these elements should convey care and diligence, and that the clients’ health is the business’s top priority.
Benefit for health plans
By creating a culture of benevolence and thoughtfulness you can count on word-of-mouth marketing which is more effective than any kind of paid advertising. Growing membership loyalty and retention by carrying out OTC benefits management goes hand in hand with reducing overall healthcare management costs. This is achieved through preventive and timely treatment, client health education, and minimization of urgent care visits.
Timely
Nothing impacts a person more than the help received right on time. The aspect of timeliness is another crucial point to consider when trying to grow your health plan membership loyalty. When it comes to health, waiting is not an option.
Value for members
Over-the-counter benefits added to a health plan should provide an opportunity to get the necessary medications in a timely manner. In order not to miss the window for early treatment and disease prevention, these vulnerable populations are reliant on fast home delivery, particularly if they are homebound and lack family support.
Benefit for health plans
Providing people with timely solutions to healthcare issues at early stages significantly reduces the costs that might otherwise have been spent on late-stage disease treatment and on further illness recurrences. Well-timed access to proper OTC benefit drugs ensures optimized overall costs for a health plan and grows member trust and loyalty towards the service offered.
Customizable and Convenient
Each member that turns to healthcare service providers in need of help is unique. It is impossible to stick to a single customer communication approach ignoring the diversity of patient cases they represent. By embracing customization, insurance companies ensure the convenience of every person who reaches their service.
Value for members
Customization includes the fundamental concept of providing products tailored to the particular members’ needs, special conditions, and preferences. As a provider, convenience should be a cross-cutting theme for every aspect of your service. OTC benefit providers should allow the multi-channel ordering process, focused on the needs of seniors: starting from the navigability of the e-commerce website to clarity of printed catalog layout.
Benefit for health plans
While members’ balances are spent effectively with preventative treatment in mind, excessive health plan expenses tend to be zero. The product formulary is developed in collaboration with healthcare providers, advising on the health problems the Plan wants to address with the benefits available.
Accessible
When building a healthcare service for the people, keeping in mind their diversity is crucial. Building a business upon the principles of equality and inclusivity, ensuring the availability of the health care services for everyone, including people with disabilities, is a top priority for the healthcare industry.
Value for members
Feeling the ability to manage your healthcare and self-care by having seamless access to OTC benefits treatment options is invaluable. With all the necessary medications in stock, lightspeed consultant feedback, and the convenience of ADA-compliant ordering options, members will be capable of preventing risky health states and averting disease appearance.
Benefit for health plans
By providing ADA-compliant options, full and equal access to health care services and facilities, you can be sure that all categories of health plan members have access to OTC products guaranteed by the Plan, allowing for timely preventative treatment.
The Final Word
The four components of preserving customers’ fidelity to your health plan are not simply fables, but a strategy carefully built by the OTCstores.com customer service team. They have proved that the more empathy, sincerity, and care you give out to the people, the more solid and durable their loyalty becomes. OTC benefits solution added to a health plan is not a simple bonus that members are already accustomed to. OTC Stores team knows how to transform the benefit into a real advantage, both for Plans and their members.