Our first quarter '22 revenue was in line with an adjusted EBITDA was ahead of our expectations. While the enrollment quality initiatives that we introduced in July of last year are still impacting telephonic conversion rates, we've also seen encouraging quality and retention metrics from the most recent Annual Enrollment Period cohort, members that we enroll during the fourth quarter with the policy effective date of January 1st, '22.
The initial traction we're seeing through the early part of 2022 combined with positive carrier feedback, reinforces our belief that eHealth can establish itself as a leader in Medicare distribution as this market moves away from volume at all costs and toward growth built on a foundation of enrollment quality, enhance consumer experience, and cash flow generation. One of the key priorities for me and the leadership team is to leverage this trend and to enhance member economics and return the company to profitable growth. As an increasing number of Americans age in the Medicare eligibility every day, we believe we are well-positioned to connect them efficiently and appropriately for the best plans to serve their needs based on our broad plan selection, consumer-centric approach, and data-driven recommendation algorithms. Our omnichannel shopping and enrollment capabilities give eHealth an advantage in attracting a broad range of customers, including younger Medicare eligible and new to M&A enrollees.
eHealth online platform is also a differentiator for our Individual family and small business segments, where more than 90% of it enrollments are completed online with no agent assistance. In line with our strategic plan, we're slowing down our conventional telephonic enrollment growth while continuing to invest in online business to expand and capture market share. The number of visitors to our online Medicare platform, top 3.2 million in Q1 representing 24% year-over-year growth. First quarter total Medicare Advantage online, unassisted applications grew to more than 11,000 submissions, up 50% compared to Q1 of 2021.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.