Wakely's National Medicare Advantage Profitability Study (a.k.a. "WRINR-MA” or the Medicare National Report) is a major Wakely initiative that helps participating issuers identify key profitability drivers for their Medicare Advantage line of business, as well as how their own drivers compare to national benchmarks. The study collects data from participating issuers on a yearly basis (we collected 2018 data for over three million member months of Medicare Advantage beneficiaries). The Medicare National Report project uses the Wakely Risk Insight (WRI) software.
In addition to a written report, participating issuers will receive access to their results in Excel format for the 2019 study. For the 2020 study, we plan to transition to Power BI; which is a powerful and flexible web-based tool that provides a visual platform to help users understand issuer-specific and national trends. We include a few sample Excel exhibits from the 2018 study below.
Top Drivers of Profitability
Medical Cost Model
Part D Average Discounts and Dispensing Fees
Each year’s study builds on the lessons of the prior year and investigates relevant changes in the marketplace. As an example, the 2019 iteration of the study will place an emphasis on additional potential drivers that were identified in the course of preparing the 2018 study results. For more information, please contact WRIMedicare@wakely.com.
For additional background and information, a recording of a recent webinar detailing the National Medicare Advantage Profitability Study can be found here.