Customer retention rate increases to 98%
BETHESDA, Md.–(BUSINESS WIRE)–Today, national healthcare management and administration firm WellNet, who provides lower cost, group health insurance plans for companies and their employees, announces that its Net Promoter® Score (NPS) is 82. Looking at global NPS standards – which categorize 50% NPS as “excellent” and 70% NPS as “world class,” WellNet’s industry leading score highlights its successful culture of customer obsession and continues a year of significant innovation and growth for the company.
The NPS score is a highly regarded metric that measures overall customer experience and loyalty. It is calculated by asking customers if they would recommend a company’s products or services to a friend or colleague. This standardized measure allows for apples-to-apples comparisons within and across industries and is used by companies to evaluate deeper measures of customer service and retention.
“Health insurance costs are an unaffordable mess and polls show healthcare to be one of the top issues for voters in November,” shared Keith Lemer, WellNet’s CEO. “At traditional health insurers, whose average NPS scores hover around a dismal 20, employers are taking note. Merely tinkering with health plans while continuing to offer a sub-par member experience won’t cut it any longer.”
WellNet’s retention rate, a measure of customers that renew their plans, increased to a record 98% in 2019. High-touch service, combined with WellNet’s bulletproof toolkit, lowers costs by $1m for every 500 employees on average all while enhancing the member experience. WellNet’s plans utilize the same doctors, networks, and hospitals that consumers know and trust already.
Celebrating over 25 years, WellNet is a privately held company providing lower cost, level funded and self-funded health plans for employers offering group health insurance. With access to National PPO networks, WellNet makes health insurance easier to access and understand, while lowering the healthcare spend in the process. A large part of WellNet’s value proposition is our cloud-based administration system that runs the health plan on a streamlined platform. To combat misaligned incentives and vested interests from the mega-insurance companies, our data-focused health plan provides the visibility needed to manage, measure and offer better care options for employees and their families. Please visit: wellnet.com.
VP, Public Relations