Reden & Anders, a strategic partner to help you develop a clear product portfolio strategy to position the right product to the right market.
The issue of product portfolio management and strategy will become a key issue. You need a clear strategy and product portfolio vision. A variety of products can exist within your health plan, but these products should be positioned in the marketplace with an ultimate vision of enrollment goals. In other words, what product best fits for a particular market segment, geographic area or employer group?
Recently, health plans have been developing a variety of new products, including POS, PPO, triple-option, tiered network, high-deductible, ASO, experience-rated, HSA, and HRA. However, in most cases, plans have not done a good job of developing an overall portfolio strategy to position the right product for the right market. Many have implemented a “let’s see what sticks” to product portfolio management.
The portfolio of products and their delivery to the marketplace have a variety of implications on a plan’s underwriting department, marketing, sales, IS, medical management, and actuarial. They influence the entire operation of a health plan. If the products are disorganized, they will have a negative impact on the future operations, enrollment, and financial standing of the health plan.
When you work with Reden & Anders, you work with a team that understands all aspects of health plans and product development. Reden & Anders can assist your health plan to move toward a more consultative approach to selling rather than a reactive selling approach.
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