LifeStation’s very own Michelle Elam, Sr. Business Development Executive, Business Development, had the pleasure of meeting a number of senior decision-makers from companies across the industry at RISE National 2023, in Colorado Springs. She spoke with fellow colleagues and had the opportunity to listen, learn, and share with industry leaders from different organizations. Here’s more on what Michelle had to say about his time at RISE National 2023:
What was your favorite speaker presentation?
Michelle: My favorite presentation of the day was with Brent and Kyle Pease, who are Ironman Champion Triathletes and brothers. They talked about their journey to Kona World Championships getting to that starting line and the ups and downs of finding the finish. Their talk illuminated and included individuals with disabilities as well.
What industry trend are you hearing about that interested you the most?
Michelle: That the US population as a whole is covered at an all-time low is the industry trend I was most interested in hearing about. The unwinding of the Public Health Emergency has brought about many changes to our healthcare system, so we’re looking forward to seeing how this affects this number moving forward, especially with so many Americans losing coverage of Medicaid and being moved onto ACA coverage.
What actual or potential government policy changes were top of mind?
Michelle: Changes occurring in CMS’s risk adjustment model will impact net revenue for Medicare Advantage plans and result in a reduction in rebates that enable health plans to offer lower premiums and more supplemental benefits. This change may factor into slowed growth for Lifestyle and Associates MO plan business, as it impacts consumer’s ability to afford coverage. This will impact LifeStation’s business with MA plans and may be a factor in slowed growth in 2024 or 2025.
Tell me about the tone of the conversations you were having with potential partners. What are they thinking about the PERS industry?
Michelle: We are at a point in our industry where health plans have options to add so many different supplemental benefits. Many believe that PERS can prevent costly hospitalizations and emergency room visits, reduce the risk of falls and injuries, and improve overall health outcomes. However, many clients are asking to see data around this.
Did you see current partners at the show? What are they hoping to see LifeStation help them solve in the future?
Michelle: Our partners are continuing to look to us for flexibility in working with us. One item that was specifically mentioned is our ability to take two forms of payment for customers who use a flex card to pay for their PERS device.
Takeaway:
Overall, we had a great time at RISE National. Everyone there seemed to be genuinely interested in improving the lives of seniors by providing innovative solutions to their healthcare needs. The most valuable thing I learned was that the job market is very competitive right now and that understanding your partners needs is crucial.
