GoHealth's Encompass Platform Drives Value-Based Care Engagement to Improve Health Outcomes

Rhea-AI Summary

GoHealth (NASDAQ: GOCO) announced a strategic enhancement of its Encompass Platform to focus on value-based care in Medicare Advantage. This digital health solution aims to improve consumer engagement and health outcomes by connecting customers with healthcare providers and enabling better care coordination. The platform will facilitate a holistic approach to plan selection, enrollment, and ongoing support through its TeleCare team. With approximately 80% of seniors affected by chronic conditions, this initiative aims to advance healthcare delivery and ensure customer satisfaction.

Positive

• Enhanced Encompass Platform to focus on value-based care for Medicare Advantage.
• Improved customer engagement through technology-driven solutions.
• Potential for better health outcomes for seniors with chronic diseases.

Negative

• Risks from complex regulations in Medicare plan marketing and sales.
• Dependency on maintaining relationships with carriers to ensure commission stability.
• Possible adverse effects from significant industry consolidation.

CHICAGO, Aug. 7, 2020 /PRNewswire/ -- GoHealth, Inc. (GoHealth) (NASDAQ: GOCO), a leading health insurance marketplace, announced its proprietary Encompass Platform will double down on the value-based care model as a key component in the future of Medicare Advantage care delivery. GoHealth's Encompass Platform is a digital health solution that connects consumer insights and essential functions across the customer journey to identify early interventions that GoHealth believes will improve a patient's coverage, drive superior health outcomes, and better connect customers with key players in the healthcare ecosystem.

This innovative offering enables a holistic and technology-driven approach to improving customer engagement with value-based care models during initial Medicare Advantage plan selection and enrollment, as well as during a series of post-sale, multi-channel engagements facilitated by GoHealth's TeleCare team and dynamic marketing automation. Driving meaningful conversations and promoting positive actions around value-based care throughout the entire consumer lifecycle helps ensure customer plan satisfaction, ultimately delivering better health outcomes for customers and creating a stronger connection between the provider, payer, and patient.

"Value-based care within Medicare Advantage is increasingly becoming an optimal care model for the customer, provider, and broader healthcare industry," said Ben Miller, Senior Vice President of Strategic Partnerships. "As we look at this space, GoHealth can advance the value-based care model through our Encompass Platform by working with providers and customers to deliver better VBC (Value-Based Care) integration and engagement tools.  This will best position our 200+ person TeleCare team to deliver an unparalleled customer experience and help the Medicare population achieve better health outcomes, a win-win for all."

GoHealth leverages its Encompass Platform to collaborate with its payer and value-based provider partners to coordinate outreach beyond enrollment, empowering customers to appropriately engage with their Medicare benefits to address their health and wellness concerns. According to the National Council on Aging, approximately 80% of seniors have at least one chronic disease, and 77% have at least two, representing a population that requires advanced care and medication coordination. With an emphasis on accessible, coordinated, high-quality care, value-based care models are positioned to improve health outcomes and customer satisfaction for this population. As the industry continues to shift from a traditional fee-for-service to value-based care delivery model, GoHealth's position as a trusted advisor during upfront plan selection and a partner throughout a customer's entire healthcare journey is invaluable in driving meaningful engagement into value-based care models. Industry trends show that providers and payers support a value-based care model, and GoHealth's holistic approach to customer engagement advances value-based efforts, and continues to be the bridge to better health and wellness for Medicare beneficiaries.

"For GoHealth and our partners, providing better access to healthcare is always the end goal," said Jake Gudmundsen, President of Medicare & Internal Distribution. "This innovative offering within our Encompass Platform helps to better coordinate customers' selection and engagement into the right care model for them and connect the appropriate players in the healthcare ecosystem to optimize health outcomes."

GoHealth is deeply committed to the delivery of new and innovative solutions that improve the healthcare system in America. The Encompass Platform enables GoHealth to work towards that mission as it partners with providers, payers, and other players in the healthcare ecosystem to simplify customers' healthcare journeys and promote health-focused outcomes. 

About GoHealth, Inc.
As a leading health insurance marketplace, GoHealth's mission is to improve access to healthcare in America. Enrolling in a health insurance plan can be confusing for customers, and the seemingly small differences between plans can lead to significant out-of-pocket costs or lack of access to critical medicines and even providers. GoHealth combines cutting-edge technology, data science and deep industry expertise to match customers with the healthcare policy and carrier that is right for them. Since its inception, GoHealth has enrolled millions of people in Medicare and individual and family plans. For more information, visit https://www.gohealth.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, including, among others, statements regarding the expected performance of the Encompass Platform. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to comply with the numerous, complex and frequently changing laws regulating the marketing and sale of Medicare plans; the potential for an adverse change in our relationships with carriers, including a loss of carrier relationships; failure to grow our customer base or retain our existing customers; carriers' ability to reduce commissions paid to us and adversely change their underwriting practices; significant consolidation in the healthcare industry that could adversely alter our relationships with carriers; information technology systems failures or capacity constraints interrupting our operations; factors that adversely impact our estimate of LTV; our dependence on agents to sell insurance plans; changes in the health insurance system and laws and regulation governing health insurance markets; our inability to effectively advertise our products; and our ability to successfully implement business plans during a global economic downturn caused by the COVID-19 pandemic.  These and other important factors are discussed under the caption "Risk Factors" in our final prospectus filed with the SEC on July 16, 2020 pursuant to Rule 424(b)(4) and our other filings with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

Media Contact
Jay Koval; VP of Investor Relations
pressinquiries@gohealth.com

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/gohealths-encompass-platform-drives-value-based-care-engagement-to-improve-health-outcomes-301108311.html

SOURCE GoHealth, Inc.

FAQ

What is GoHealth's Encompass Platform and its role in Medicare Advantage?

GoHealth's Encompass Platform is a digital health solution designed to enhance consumer engagement with value-based care models, aiding in Medicare Advantage plan selection and post-sale support.

How does GoHealth plan to improve health outcomes with its new platform?

By connecting customers directly with healthcare providers and optimizing the engagement process, GoHealth aims to improve patient satisfaction and overall health outcomes.

What challenges could affect GoHealth's growth strategy?

Challenges may include compliance with complex regulations, maintaining carrier relationships, and adapting to industry consolidation.

What percentage of seniors require advanced care according to GoHealth's press release?

According to the press release, approximately 80% of seniors have at least one chronic disease, necessitating advanced care.