Medicare Advantage is growing at an unprecedented rate. Under the Obama Administration the number of Medicare Advantage beneficiaries increased from 5.6 million beneficiaries in 2005 to 18 million by 2016 year-end. Recent projections predict MA enrollees will make up nearly 40% of all Medicare patients by 2025. Further, GOP leadership has expressed their commitment to invest in the MA market under the Trump Administration.

We've seen a growing interest in investing in Medicare Advantage (MA) from independent medical groups, and it's clear why: MA has higher reimbursement rates than traditional Medicare and greater flexibility over contracting structure and plan design.

The Physician Practice Roundtable recently spoke with independent medical group leaders to understand how to make the most effective investments in MA. From those conversations, we learned there are five key imperatives for growing your MA book of business.

Keep reading below to learn five imperatives and other resources you can use to support independent medical group MA strategy.

Engage patients to select, and stay, with the right Medicare Advantage plans

1. Invest in converting patients to MA. Medical groups have many options that require varying levels of investment when it comes to patient engagement in MA. Some examples include direct mailings to patients, online advertisements, and in-person education.

  Learn five ways independent medical groups can engage patients to grow MA

2. Tip market toward most favorable contracts. Once a medical group has a critical mass of patients in MA, it should leverage patient loyalty to physicians to direct patients to plans that are a win-win for both patients and the group.

  Learn how groups are ensuring patients select best-in-class MA products in this presentation

Enhance profitability in partnership with payers

3. Invest in HCC coding. Improved HCC scoring as a result of more specific coding and documentation results in more accurate and potentially higher per-member per-month (PMPM) payment.

  Learn about three opportunities for optimizing HCC capture

4. Partner with plans to improve star ratings. Providers can inflect key satisfaction and clinical quality metrics to improve star ratings. This is valuable because plans with 4+ star ratings receive a reimbursement bonus.

  See how MA plans are mobilizing to improve star ratings to identify where your group can help

5. Consider exclusivity to secure more favorable contract terms. Independent medical groups often want more say in network design and care management when it comes to MA. Entering into an exclusive contract with an MA plan is one way groups can gain greater leverage during contracting negotiations to secure more of their preferred contract terms.

  Learn how Reliant leveraged exclusivity to negotiate a more favorable MA contract