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About 10% of members switch medical insurance plans each year on average according to the Kaiser Family Foundation. If we assume that the revenue per member is around $800 per month, a 10% churn rate in a plan of 100,000 members, results in $96 million in lost reimbursements. Alternatively, an ability to reduce churn by, say 1%, would increase revenue by $9.6 million dollars per year in the same plan.
In this solution brief we describe how healthcare companies can use graph analytics to improve the satisfaction of their members. Graph analytics can be used, for example, to monitor the wellness journeys of members while also recommending specific actions that can positively influence their care paths.