How Medicare Agents Can Benefit From the VBC Model

Feb 27, 2024 7 min read

People often prefer quality over quantity, because what good is having a lot of something if its value is nominal? That’s the idea behind the revolutionary new value-based care (VBC) model of paying Medicare providers.

What is the VBC Model?

A payment approach that incentivizes health care providers that focus on delivering high-quality care to Medicare beneficiaries
Providers are paid based on the quality of care they provide, not on the quantity of services they offer

How does the VBC model differ from the more traditional fee-per-service model? Under the old model, providers are compensated strictly on specific services and procedures rendered. It doesn’t take into account the quality of those services and procedures. This new model strives to change that. It adds a layer, the “quality” component. It’s that component that rewards providers based on outcomes and efficiency of care versus simply the number of services completed.

Agents who offer Medicare solutions as part of their practice can capitalize on this new model as well by taking on a community-based agent mentality. Community-based agents are those who engage in volunteer activities, sponsor local events and collaborate with community organizations.

Benefits of community-based agents who work with VBC providers:

New marketing and lead-generation opportunities
Positive community exposure
Creation of new centers of influence for business growth
Additional Medicare enrollment and sales opportunities
Partnership and support opportunities for marketing and events campaigns

Partnering with value-based care providers is a great way to grow your business. It’s especially well-suited for newer agents looking for additional ways to gain production, as well as growing agencies. But what’s the best way to break into this market? Here are a few general tips:

Connect with all value-based care providers in your area
Establish a working relationship with VBC representatives and clinic staff
Assist the clinic in meeting its goals by helping them increase community visibility, branding, education and consumer engagement

The above-shown list represents some great opportunity. But, how do you go from ideation to implementation? Here are some proven specifics:

Schedule educational events in VBC clinics designed to provide clarity on Medicare
Schedule sales meetings in VBC clinics
Invite VBC reps to work community events with you at senior centers, senior apartment complexes, food banks, retail locations, community centers, senior-focused groups, etc.

Here’s your general formula for success:

Create a business plan
Create flyers or brochures you can leave at the clinic
Assist the VBC clinic in meeting their membership and financial goals
Meet with at least two new VBC or provider groups in your selected area on a daily basis
Work at least two events every week

So, now you know how lucrative working with VBC providers can be for you as an agent offering Medicare solutions. Plus, you now have a game plan for starting your VBC relationships. But you still need one thing, a partner to help pull it all together. That’s where Senior Market Sales^® (SMS) comes in. SMS helps in a myriad of ways as it relates to developing your VBC strategy. They even offer an exclusive opportunity to partner with unique VBC providers in your area.

As part of SMS’ exclusive VBC program, you get:

Added value for your existing clients
Numerous sponsorship and community event opportunities to get in front of potential clients
Marketing collateral to advertise your services

Don’t think VBC collaboration is for you? Are you skeptical that this works in the real world? Check out these testimonials by real agents who’ve found success in the VBC market.

Testimonial No. 1:

Over the past few years, Ohio Senior Insurance and its agents have had the good fortune to work closely with several value-based health care facilities throughout Ohio that provide care to our communities.

It has allowed us to develop a mutually beneficial partnership to ensure that the community is well-served both through their chosen health care plan as well as the care they receive.

Our agents have worked alongside the staff in the respective local communities helping to staff area events and hold educational seminars to increase awareness of Medicare, their plan benefits for smoother access, as well as introducing them to the local facilities. In addition, we have built long-term relationships with the staff and management team internally as our agents are onsite on a specific day/time each week as a Medicare resource to all.

We are grateful for the opportunity to be part of this exciting new approach to health care delivery and to further serve the local communities.

Testimonial No. 2:

My relationship with Oak Street began a couple of years ago. I had recently left a captive Blue Cross agency where I began my career about five years earlier, leaving behind my entire block of business.

My upline, Raul Cardenas introduced us to Oak Street, partnering for several workshops at their center and even had office hours there during AEP in 2022.

Mike and I partnered for several very successful events at Bakers Square prior to and during AEP. We had marketing support from both our Upline and Oak Street.

My partner and I both doubled our production from the previous year. They refer people to us all the time and they are trusted partners. We feel lucky to be at the top of their agent list and love collaborating with them.

Laura Lunn

Your Next Step

Get more information on VBC opportunities available through SMS. Plus, discover SMS’ suite of sales tools designed to help you save time, make more money and put your practice in a position of distinction.

If you have questions or need additional assistance, connect with a licensed SMS Med Solutions marketing consultant at 1.888.747.3810.

For Licensed Insurance Agent/Advisor Use Only. Not for General Public.