Project Summary:
A major commercial health insurance company with a significant presence in Medicare Part D retained CRA to assist in the development of a bidding strategy for the organization’s stand-alone Part D Plans (PDP) business. The insurer was looking to improve its bidding performance from the prior year, while adapting to changes in the regulatory landscape and competitive environment. CRA conducted competitor assessments, developed a quantitative bidding strategy model, and provided recommendations on bidding strategy in the annual bidding process to provide Medicare Part D health insurance coverage in different regions of the country. CRA’s team of auction and bidding experts, economists, statisticians, programmers, and health care experts delivered strategic analyses and decision support tools to inform bidding decisions nationally and in specific regions. Armed with insights and instruments developed by CRA, the client was able to improve its Part D position and its process for future bid development.