Health insurance exchanges: Market evaluation
One important step to ensuring successful operation within health insurance exchange marketplaces is determining which exchanges a payer should join. Each state is authorized to decide what type of exchange it establishes, including active purchasers and open markets. Central to that decision is the exchange's distribution channels, as well as product design and marketing. Payers can decide whether to participate in an exchange by answering these questions:
- What is the optimal go-to-market strategy to compete in each exchange?
- How much investment is required to enter each market?
- How will insurance exchange investments be prioritized against other reform initiatives (ICD-10, compliance, etc.)?
- How will new and existing distribution channels be affected?
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