Mr. Phillips pointed primarily to Humana’s January Medicare Advantage outlook cut as evidence of start-ups looking to take over a slice of the market from larger payers.
“Many recent entrants in the MA market are tech-backed start-ups who bring an agile, grass-roots approach to marketing with high-touch customer service that can be cumbersome for a number of dominant insurers who serve millions of members,” Mr. Phillips said.
However, other payers have maintained confidence in their Medicare Advantage strategies despite the increasing rise of start-ups scooping up potential members.
Mr. Phillips said outdated workflows and technology are holding dominant payers back from seizing more of the market, claiming that “there’s often a reluctance to change.”
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