The Open Enrollment Period for acquiring a health insurance plan for the 2017 calendar year begins on November 1, 2016 and ends on January 31, 2017. Open Enrollment 2017 marks the fourth year of Affordable Care Act health plans and promises to bring another explosion of health plan enrollments directly through healthcare.gov, state-run healthcare exchanges and through private insurance providers outside of the exchanges. For health insurance lead generation companies, this is the big dance. Because such a large number of health insurance plans are purchased within this three month period, health insurance lead companies have a small amount of time to take advantage and can't afford to make any mistakes. That's why its so important to take one simple step to get prepared for Open Enrollment 2017.
Any lead generation company operating in the health insurance vertical needs ping post software to sell and distribute health insurance leads in real-time. Health insurance leads are bought and sold exclusively via ping post, but that doesn't make every ping post solution suited for the explosion of traffic that Open Enrollment brings. If you want to maximize your profits during Open Enrollment 2017 you need to upgrade to a ping post solution that can handle your needs for the following 5 reasons.
Based on last year's numbers, Open Enrollment 2017 will be big. Last year approximately 12.7 million consumers enrolled in health care plans during the open enrollment period, a significant increase from the previous year. Even with the large number of enrollments, Gallup estimates that nearly 11% of U.S. adults remained uninsured for the 2016 year. Furthermore, with the penalty for not having health insurance (individual shared responsibility payment) spiking again for the 2017 year, it is safe to assume that even more uninsured individuals will seek health insurance during Open Enrollment 2017.
For health insurance providers, the 3 month open enrollment period makes up a massive percentage of their yearly revenue. For comparison, estimates show that retail stores, on average, make around 20% of their yearly revenue during the holidays and you can bet that they are already preparing for Black Friday. Health insurance providers establish nearly all of their annual revenue during open enrollment, so shouldn't health insurance lead generators be getting prepared for the biggest open enrollment period ever?
boberdoo has been producing ping post software for over 10 years so we know how important it is for lead companies to be able to scale at the drop of a hat. We have heard time and time again from our clients that their previous SaaS solutions either completely failed to process incoming pings once reaching a certain volume or failed to return responses for each ping. This is unacceptable for any lead generation company. You are likely already operating on delicately balanced margins so losing leads because of an increase in volume is a sure way to get beat by your competitors.
Utilizing ping post to distribute your health insurance leads is essential, but maximizing your revenue for each and every lead is how you optimize your profitability. With a sophisticated dynamic bidding system, the seller knows that the highest bidder is purchasing the lead, but that doesn't necessarily guarantee the highest total value of the lead. There are more sophisticated ways to ensure that the lead is selling for its maximum potential. For example, boberdoo's ping post scenarios allows you to compare the potential value of a lead sold exclusively vs the same lead selling multiple times. We run this calculation in real-time and sell the lead for its maximum value. We also routinely customize our clients' distribution processes to make sure their business is operating to their exact specifications.
In the lead generation industry, growing your lead buyer and seller network is one of the most important elements. Luckily, boberdoo clients are free to participate in our referral program. We routinely introduce buyers and sellers in similar verticals to help them establish lasting business relationships. If you're looking to make Open Enrollment 2017 your best year yet, a few new clients can certainly help.
If you operate in the health insurance lead vertical, now is the time to prepare for Open Enrollment 2017. While you may be able to get by with one of the riskier ping post solutions on the market, the only way you can ensure a successful and profitable open enrollment period is by switching to boberdoo.com. We would be more than happy to walk you through your specific options and get you fully on-boarded in time to take open enrollment by storm. If you're interested in a demo, give us a call at 800-776-5646 or fill out the form below!