Financial Management: The Next Area for Innovation in Serving Seniors

Vincent Giglierano, senior manager of health services research for Faegre Drinker Consulting, coauthored an article for MedCity News with National Association of Dental Plans Executive Director Michael Adelberg, explaining how health plans — particularly Medicare Advantage (MA) plans — could benefit from offering financial management services to seniors.

Giglierano stated that MA plans, accountable care organizations, long-term care insurers, Medicaid home and community-based providers, and others with a financial interest in preserving the independence of seniors could benefit from assisting seniors in their financial tasks.

In conclusion, Giglierano noted that while helping seniors with their personal finances by paying their bills according to their wishes is a relatively new service, evidence shows that these financial management services directly improve the health and well-being of seniors and their caregivers.