Digital and workers' comp insurers should leverage a wide range of digital health technologies, monitoring devices and wellness analytics to reduce return to work (RTW) times and thereby increase operational efficiency, cut claims costs and offer better outcomes to all stakeholders.
The Work Ahead in Healthcare: Digital Delivers at the Frontlines of CareCognizant
The COVID-19 pandemic accelerated the adoption of digital technologies in healthcare. Providers are using AI and intelligent machines to personalize care and change how care is delivered. A recent study found that the pandemic pushed many providers to significantly change their operations and embrace digital technologies like telehealth. While IT budgets are growing modestly, many providers expect to implement AI and see the role of intelligent machines in care delivery increasing over the next few years. This will change the skills needed and how work is allocated between employees and machines.
Healthcare Rx: The Rise of the Empowered ConsumerCognizant
Market and digital forces have combined to enable the healthcare industry to treat much of what ails it — or be supplanted by newcomers who can more quickly seize the digital high ground.
The document discusses disruptive digital technologies that are transforming healthcare, including telemedicine, the Internet of Medical Things, cloud computing, augmented/virtual/mixed reality, artificial intelligence, chatbots, data science, and blockchain. It outlines Thailand's national eHealth strategy and components like electronic medical records, health information exchange, and a quality framework for healthcare accreditation and information technology. Overall, the document emphasizes how healthcare organizations can gain competitive advantages by leveraging these disruptive digital technologies through digital optimization, business transformation, and defining their digital organization landscape.
This 17-page document will inspire and guide you through WHY it's time to re-consider your agency technology. Furthermore, this guide will help you answer WHAT you need to know about the shifting home healthcare landscape from a traditional Fee-for-Service model to outcome/bundled reimbursement.
With this guide, you'll learn about topics such as:
1. What is the Bundled Payment Model?
2. Why Home Health Care Agencies Require Technology
3. Steps to Buying a Software Solution
4. Key Factors and Features to Keep in Mind
Wardell, Future of Digital Health, Leerink Research 2014-10Steven Wardell
The document discusses the emerging digital health sector and identifies six investment themes driving opportunities:
1) Consumer Empowerment, 2) Automation, 3) Connected Health, 4) Population Health, 5) Big Data, and 6) Healthcare IT. It notes that while investment in digital health companies has grown, their stock performance has lagged the broader market. The document initiates coverage on six digital health stocks and sees opportunities for companies in online health media, consumer tools, and healthcare automation.
Convergence of Compliance & Technology: How Technology Has Changed Regulatory...MasterControl
Life science companies face enormous scientific, economic, and regulatory challenges during development of medical products. While the growth of R&D has always been intertwined with technological advances, it has not been the case for regulatory compliance. The situation changed with the advent of 21 CFR Part 11, the watershed regulation that established the criteria for the use of electronic records and electronic signatures by organizations under the jurisdiction of the U.S. Food and Drug Administration.
Since 2000, we have benefited from a technology-driven era in regulatory compliance. The book identifies 16 laws and initiatives that have helped spur such modernization. It explores how the use of technology in the past decade has helped both sides of the fence—regulated companies and regulatory agencies—in easing the pains and costs of compliance.
mHealth Israel_Levi Shapiro_Israel Digital Health Overview Levi Shapiro
Overview of digital health investment sector, including investment, funding and exit trends in the US and Israel, as well as successful case studies of eHealth companies in the US and Israel
The Work Ahead in Healthcare: Digital Delivers at the Frontlines of CareCognizant
The COVID-19 pandemic accelerated the adoption of digital technologies in healthcare. Providers are using AI and intelligent machines to personalize care and change how care is delivered. A recent study found that the pandemic pushed many providers to significantly change their operations and embrace digital technologies like telehealth. While IT budgets are growing modestly, many providers expect to implement AI and see the role of intelligent machines in care delivery increasing over the next few years. This will change the skills needed and how work is allocated between employees and machines.
Healthcare Rx: The Rise of the Empowered ConsumerCognizant
Market and digital forces have combined to enable the healthcare industry to treat much of what ails it — or be supplanted by newcomers who can more quickly seize the digital high ground.
The document discusses disruptive digital technologies that are transforming healthcare, including telemedicine, the Internet of Medical Things, cloud computing, augmented/virtual/mixed reality, artificial intelligence, chatbots, data science, and blockchain. It outlines Thailand's national eHealth strategy and components like electronic medical records, health information exchange, and a quality framework for healthcare accreditation and information technology. Overall, the document emphasizes how healthcare organizations can gain competitive advantages by leveraging these disruptive digital technologies through digital optimization, business transformation, and defining their digital organization landscape.
This 17-page document will inspire and guide you through WHY it's time to re-consider your agency technology. Furthermore, this guide will help you answer WHAT you need to know about the shifting home healthcare landscape from a traditional Fee-for-Service model to outcome/bundled reimbursement.
With this guide, you'll learn about topics such as:
1. What is the Bundled Payment Model?
2. Why Home Health Care Agencies Require Technology
3. Steps to Buying a Software Solution
4. Key Factors and Features to Keep in Mind
Wardell, Future of Digital Health, Leerink Research 2014-10Steven Wardell
The document discusses the emerging digital health sector and identifies six investment themes driving opportunities:
1) Consumer Empowerment, 2) Automation, 3) Connected Health, 4) Population Health, 5) Big Data, and 6) Healthcare IT. It notes that while investment in digital health companies has grown, their stock performance has lagged the broader market. The document initiates coverage on six digital health stocks and sees opportunities for companies in online health media, consumer tools, and healthcare automation.
Convergence of Compliance & Technology: How Technology Has Changed Regulatory...MasterControl
Life science companies face enormous scientific, economic, and regulatory challenges during development of medical products. While the growth of R&D has always been intertwined with technological advances, it has not been the case for regulatory compliance. The situation changed with the advent of 21 CFR Part 11, the watershed regulation that established the criteria for the use of electronic records and electronic signatures by organizations under the jurisdiction of the U.S. Food and Drug Administration.
Since 2000, we have benefited from a technology-driven era in regulatory compliance. The book identifies 16 laws and initiatives that have helped spur such modernization. It explores how the use of technology in the past decade has helped both sides of the fence—regulated companies and regulatory agencies—in easing the pains and costs of compliance.
mHealth Israel_Levi Shapiro_Israel Digital Health Overview Levi Shapiro
Overview of digital health investment sector, including investment, funding and exit trends in the US and Israel, as well as successful case studies of eHealth companies in the US and Israel
Rethinking Health Plan Business Models for the Emerging On-Demand Digital Eco...Cognizant
Even as on-demand healthcare platforms disrupt the industry, they create possibilities for new value propositions, partnerships and business models that will further reshape the cost and delivery of care.
Healthcare Digital Transformation - Outlook and recommendations for 2019Damo Consulting Inc.
In our inaugural review of healthcare’s digital transformation, we assess the current state of digital, analytics, and technology-led innovation in healthcare, and offer our recommendations to healthcare enterprises and technology solution providers.
AI in Healthcare | Future of Smart Hospitals Renee Yao
In this talk, I specifically talk about how NVIDIA healthcare AI software and hardware were used to support healthcare AI startups' innovation. Three startups featured: Caption Health, Artisight, and Hyperfine. Audience: healthcare systems CXOs.
Healthcare Digital Transformation - A primer for healthcare executives and te...Damo Consulting Inc.
The future of healthcare is in digitally reimagined experiences for patients and caregivers alike. Digitalization offers increased choice and convenience for patients, and improved outcomes for caregivers while reducing costs and workloads.
TCS Healthcare presented at a virtual trade mission in Nashville on improving healthcare. They discussed challenges like rising costs, lack of access, and waste. TCS aims to enhance healthcare through increasing access, lowering costs, improving outcomes, and empowering patients through analytics, dashboards, and other technologies. They provide services including hospital management systems, clinical decision support, and business process outsourcing to healthcare payers and providers.
Computer assisted cdi your secret weapon to revenue generationezDI
The clinical documentation improvement (CDI) market is growing significantly due to the transition to value-based care models and the importance of accurate clinical documentation for healthcare revenue. Incomplete or inaccurate documentation can lead to denied claims and lost revenue. Hospitals are implementing CDI software and tools using clinical natural language processing and machine learning to automate documentation processes and identify coding opportunities to optimize reimbursement and minimize revenue loss.
The document discusses the growth of mHealth and networked devices in healthcare. It notes that analysts forecast strong growth in the mHealth market, with physicians increasingly using smartphones and the global market for remote patient monitoring growing substantially. mHealth can help address rising healthcare costs by reducing costs through remote monitoring and reducing office visits. It can also help manage chronic diseases, which account for much of healthcare spending. The document outlines Accenture's research on the mHealth opportunity and barriers to its development, noting that industry respondents see networking as important to their competitive future and are developing various networked healthcare devices and services.
Steven Wardell Digital Health Landscape v1.8Steven Wardell
This document provides an overview of the digital health landscape, including areas such as consumer empowerment, connected health, big data, healthcare IT systems, digital tools, online media and community, population health, and various stakeholders in the healthcare system such as payers, physicians, providers, and pharmaceutical companies. It notes several public and acquired companies and indicates it should not be used for institutional purposes.
5 Reasons Why Coding and Documentation Audits are More Important than EverezDI
Auditing and documentation are important for healthcare organizations to ensure accurate billing and reimbursement. The document discusses 5 reasons why audits are more important than ever: 1) They enhance data quality which leads to better reporting and research opportunities. 2) They increase operational efficiency by automating manual tasks and detecting errors. 3) They improve patient safety by finding errors and giving real-time feedback. 4) They improve relations between healthcare providers and HIM staff by providing feedback. 5) They enhance reimbursement accuracy by ensuring proper documentation of patient complications. The document also discusses how one hospital improved coding efficiency, decreased discharge times, and saved $1 million by implementing an AI-powered auditing solution.
Aguai Solutions brings deep expertise in Digital Healthcare leveraging technologies across Web, Cloud, Mobile and AI.
Patients are increasingly searching for good care givers, care centers. Need for Healthcare Ecosystem to go Digital is even greater today than ever before
Our exclusive study reveals 20 key findings that will help health plans set the course for their digital member experience strategies in 2016 and beyond.
The document discusses reforming healthcare systems. It provides background on Paul Young and his expertise. It then discusses global healthcare spending, rankings of efficient healthcare systems, and opportunities for digital healthcare and IT solutions to improve efficiency. Key areas discussed for reform include controlling costs, implementing better crisis management, emphasizing value, and reducing waste.
The Work Ahead for Healthcare Payers: Gaining a Foothold in the Digital Healt...Cognizant
Healthcare insurers need to continue applying intelligent automation and overcome skills gaps to realize expected digital gains, according to our recent research.
The document discusses emerging trends and innovations that are driving healthcare transformation in Canada. It identifies the top 10 healthcare game changers, including: 1) Healthcare clouds that will take health records off mainframes and make them accessible online; 2) Health analytics that will use more available data to improve decision making and care; 3) New payment models that will tie funding to quality and outcomes rather than just outputs.
4 Digital Health Trends Affecting Your Revenue CycleMeduit
The document discusses 4 emerging digital trends impacting the healthcare industry: 1) Big data, with more health data being collected but not fully utilized; 2) mHealth and wearable devices increasing patient engagement and ownership; 3) The Internet of Things expanding connectivity of devices; and 4) Data security becoming more vital as digital innovation increases potential threats. These trends present both opportunities such as reduced costs and improved outcomes, as well as challenges around data sharing and protection that healthcare organizations must address. Behavioral analytics and a focus on data security are seen as important to manage risks in this evolving digital landscape.
Digitalizing Healthcare- Ralph Wiegner, Siemens Healthineers for mHealth IsraelLevi Shapiro
Presentation by Dr. Ralph Wiegner, Global Head of Digitalizing Healthcare, Siemens Healthineers, March 2, 2021, for mHeatlh Israel. Key themes:
- COVID-19 pandemic has created new challenges for CEOs
- Acceleration of digitalization in healthcare – are healthcare decision makers well prepared for this?
- How to digitalize healthcare?
- What are the right measures and technologies to ensure sustainable digital transformation?
- The integration of clinical and non-clinical data and patient outcome sharing is seen most critical globally
- Future vision: Digital Twin – management of complex medical scenarios by patient centered data integration and modelling
- Stroke is the second leading cause of death worldwide
- Major challenges and trends for stroke – Facts and figures
- Vision: Connected intelligence in stroke – Self-learning real-time network of intelligent machines
- Proactive risk evaluation and early detection
- Real-time stroke response and diagnosis
- Precise stroke treatment
- Seamless integrated patient-centered rehabilitation and aftercare
- Stroke supervision platform orches-trates the overall patient workflow
- Siemens Healthineers Insights Series
Digital Healthcare Trends: Transformation Towards Better Care RelationshipKumaraguru Veerasamy
Digital health encompasses digital care programs, technologies with health, healthcare, living, and society to enhance the efficiency of healthcare delivery and to make medicine more personalized and precise. With the increasing adoption of telemedicine, wearable devices, mobile health apps (especially during the recent COVID-19 pandemic) and VR/AR; digital health is poised to take healthcare forward.
2016 IBM Interconnect - medical devices transformationElizabeth Koumpan
Emerging technologies such as Internet of Things, 3D Printing are driving the creation of new business models and forcing the Industry for transformation. The product centric model where the Industry main objective was to develop the device, is moving to software and services model, with the focus on Big Data & Analytics, Integration and Cloud.
The maturation of technologies such as social, mobile, analytics, cloud, 3D printing, bio- and nanotechnology are rapidly shifting the competitive landscape. These emerging technologies create an environment that is connected and open, simple and intelligent, fast and scalable. Organizations must embrace disruptive technologies to drive innovation
TechTalks | Digital Transformation in Healthcare: Opportunities and Trendsrmcsoft
This document discusses opportunities for digital transformation in healthcare through three examples:
1. A digital health system operating unit called Mercy Virtual that generated $325 million in revenue and $113 million in EBITDA through remote patient monitoring and reduced unnecessary emergency visits.
2. A study of 300 high-cost patients that spent $45 million annually on acute care. A remote monitoring program reduced costs by $15 million and cut 12 full-time employees.
3. A telehealth startup called TeleHealth Solution that aims to improve access to care, reduce costs, and address physician shortages by providing virtual consultations and remote monitoring across specialties.
From Chaos to Catalyst: Five Imperatives for HealthcareCognizant
The document discusses five imperatives for healthcare providers and payers in response to the COVID-19 pandemic. It summarizes each imperative as follows:
1. Take out costs - Providers and payers must reduce costs due to financial pressures from rising supply costs, decreased utilization of services, and changes in insurance coverage.
2. Deliver care@home - The pandemic accelerated adoption of telehealth and more services can now be delivered virtually. This allows decoupling of care from physical infrastructure.
3. Implement low-touch healthcare - Providers must reduce physical contact to ensure safety while maintaining a personalized experience through contactless processes and virtual care.
4. Accelerate digital transformation - Changes in consumer behavior
Employing Telematics to Transform Workers' CompensationCognizant
Various pressures like heightened competition, rising costs and tougher regulations are compelling workers' compensation insurers to automate their systems, connect their people, processes and devices, and distill accurate, real-time information from the digital data that that encircles people, processes, organizations and devices. Telematics - technologies that integrate telecommunications and information can be the key to achieving these goals, all through a proactive, smarter, tightly connected environment.
Rethinking Health Plan Business Models for the Emerging On-Demand Digital Eco...Cognizant
Even as on-demand healthcare platforms disrupt the industry, they create possibilities for new value propositions, partnerships and business models that will further reshape the cost and delivery of care.
Healthcare Digital Transformation - Outlook and recommendations for 2019Damo Consulting Inc.
In our inaugural review of healthcare’s digital transformation, we assess the current state of digital, analytics, and technology-led innovation in healthcare, and offer our recommendations to healthcare enterprises and technology solution providers.
AI in Healthcare | Future of Smart Hospitals Renee Yao
In this talk, I specifically talk about how NVIDIA healthcare AI software and hardware were used to support healthcare AI startups' innovation. Three startups featured: Caption Health, Artisight, and Hyperfine. Audience: healthcare systems CXOs.
Healthcare Digital Transformation - A primer for healthcare executives and te...Damo Consulting Inc.
The future of healthcare is in digitally reimagined experiences for patients and caregivers alike. Digitalization offers increased choice and convenience for patients, and improved outcomes for caregivers while reducing costs and workloads.
TCS Healthcare presented at a virtual trade mission in Nashville on improving healthcare. They discussed challenges like rising costs, lack of access, and waste. TCS aims to enhance healthcare through increasing access, lowering costs, improving outcomes, and empowering patients through analytics, dashboards, and other technologies. They provide services including hospital management systems, clinical decision support, and business process outsourcing to healthcare payers and providers.
Computer assisted cdi your secret weapon to revenue generationezDI
The clinical documentation improvement (CDI) market is growing significantly due to the transition to value-based care models and the importance of accurate clinical documentation for healthcare revenue. Incomplete or inaccurate documentation can lead to denied claims and lost revenue. Hospitals are implementing CDI software and tools using clinical natural language processing and machine learning to automate documentation processes and identify coding opportunities to optimize reimbursement and minimize revenue loss.
The document discusses the growth of mHealth and networked devices in healthcare. It notes that analysts forecast strong growth in the mHealth market, with physicians increasingly using smartphones and the global market for remote patient monitoring growing substantially. mHealth can help address rising healthcare costs by reducing costs through remote monitoring and reducing office visits. It can also help manage chronic diseases, which account for much of healthcare spending. The document outlines Accenture's research on the mHealth opportunity and barriers to its development, noting that industry respondents see networking as important to their competitive future and are developing various networked healthcare devices and services.
Steven Wardell Digital Health Landscape v1.8Steven Wardell
This document provides an overview of the digital health landscape, including areas such as consumer empowerment, connected health, big data, healthcare IT systems, digital tools, online media and community, population health, and various stakeholders in the healthcare system such as payers, physicians, providers, and pharmaceutical companies. It notes several public and acquired companies and indicates it should not be used for institutional purposes.
5 Reasons Why Coding and Documentation Audits are More Important than EverezDI
Auditing and documentation are important for healthcare organizations to ensure accurate billing and reimbursement. The document discusses 5 reasons why audits are more important than ever: 1) They enhance data quality which leads to better reporting and research opportunities. 2) They increase operational efficiency by automating manual tasks and detecting errors. 3) They improve patient safety by finding errors and giving real-time feedback. 4) They improve relations between healthcare providers and HIM staff by providing feedback. 5) They enhance reimbursement accuracy by ensuring proper documentation of patient complications. The document also discusses how one hospital improved coding efficiency, decreased discharge times, and saved $1 million by implementing an AI-powered auditing solution.
Aguai Solutions brings deep expertise in Digital Healthcare leveraging technologies across Web, Cloud, Mobile and AI.
Patients are increasingly searching for good care givers, care centers. Need for Healthcare Ecosystem to go Digital is even greater today than ever before
Our exclusive study reveals 20 key findings that will help health plans set the course for their digital member experience strategies in 2016 and beyond.
The document discusses reforming healthcare systems. It provides background on Paul Young and his expertise. It then discusses global healthcare spending, rankings of efficient healthcare systems, and opportunities for digital healthcare and IT solutions to improve efficiency. Key areas discussed for reform include controlling costs, implementing better crisis management, emphasizing value, and reducing waste.
The Work Ahead for Healthcare Payers: Gaining a Foothold in the Digital Healt...Cognizant
Healthcare insurers need to continue applying intelligent automation and overcome skills gaps to realize expected digital gains, according to our recent research.
The document discusses emerging trends and innovations that are driving healthcare transformation in Canada. It identifies the top 10 healthcare game changers, including: 1) Healthcare clouds that will take health records off mainframes and make them accessible online; 2) Health analytics that will use more available data to improve decision making and care; 3) New payment models that will tie funding to quality and outcomes rather than just outputs.
4 Digital Health Trends Affecting Your Revenue CycleMeduit
The document discusses 4 emerging digital trends impacting the healthcare industry: 1) Big data, with more health data being collected but not fully utilized; 2) mHealth and wearable devices increasing patient engagement and ownership; 3) The Internet of Things expanding connectivity of devices; and 4) Data security becoming more vital as digital innovation increases potential threats. These trends present both opportunities such as reduced costs and improved outcomes, as well as challenges around data sharing and protection that healthcare organizations must address. Behavioral analytics and a focus on data security are seen as important to manage risks in this evolving digital landscape.
Digitalizing Healthcare- Ralph Wiegner, Siemens Healthineers for mHealth IsraelLevi Shapiro
Presentation by Dr. Ralph Wiegner, Global Head of Digitalizing Healthcare, Siemens Healthineers, March 2, 2021, for mHeatlh Israel. Key themes:
- COVID-19 pandemic has created new challenges for CEOs
- Acceleration of digitalization in healthcare – are healthcare decision makers well prepared for this?
- How to digitalize healthcare?
- What are the right measures and technologies to ensure sustainable digital transformation?
- The integration of clinical and non-clinical data and patient outcome sharing is seen most critical globally
- Future vision: Digital Twin – management of complex medical scenarios by patient centered data integration and modelling
- Stroke is the second leading cause of death worldwide
- Major challenges and trends for stroke – Facts and figures
- Vision: Connected intelligence in stroke – Self-learning real-time network of intelligent machines
- Proactive risk evaluation and early detection
- Real-time stroke response and diagnosis
- Precise stroke treatment
- Seamless integrated patient-centered rehabilitation and aftercare
- Stroke supervision platform orches-trates the overall patient workflow
- Siemens Healthineers Insights Series
Digital Healthcare Trends: Transformation Towards Better Care RelationshipKumaraguru Veerasamy
Digital health encompasses digital care programs, technologies with health, healthcare, living, and society to enhance the efficiency of healthcare delivery and to make medicine more personalized and precise. With the increasing adoption of telemedicine, wearable devices, mobile health apps (especially during the recent COVID-19 pandemic) and VR/AR; digital health is poised to take healthcare forward.
2016 IBM Interconnect - medical devices transformationElizabeth Koumpan
Emerging technologies such as Internet of Things, 3D Printing are driving the creation of new business models and forcing the Industry for transformation. The product centric model where the Industry main objective was to develop the device, is moving to software and services model, with the focus on Big Data & Analytics, Integration and Cloud.
The maturation of technologies such as social, mobile, analytics, cloud, 3D printing, bio- and nanotechnology are rapidly shifting the competitive landscape. These emerging technologies create an environment that is connected and open, simple and intelligent, fast and scalable. Organizations must embrace disruptive technologies to drive innovation
TechTalks | Digital Transformation in Healthcare: Opportunities and Trendsrmcsoft
This document discusses opportunities for digital transformation in healthcare through three examples:
1. A digital health system operating unit called Mercy Virtual that generated $325 million in revenue and $113 million in EBITDA through remote patient monitoring and reduced unnecessary emergency visits.
2. A study of 300 high-cost patients that spent $45 million annually on acute care. A remote monitoring program reduced costs by $15 million and cut 12 full-time employees.
3. A telehealth startup called TeleHealth Solution that aims to improve access to care, reduce costs, and address physician shortages by providing virtual consultations and remote monitoring across specialties.
From Chaos to Catalyst: Five Imperatives for HealthcareCognizant
The document discusses five imperatives for healthcare providers and payers in response to the COVID-19 pandemic. It summarizes each imperative as follows:
1. Take out costs - Providers and payers must reduce costs due to financial pressures from rising supply costs, decreased utilization of services, and changes in insurance coverage.
2. Deliver care@home - The pandemic accelerated adoption of telehealth and more services can now be delivered virtually. This allows decoupling of care from physical infrastructure.
3. Implement low-touch healthcare - Providers must reduce physical contact to ensure safety while maintaining a personalized experience through contactless processes and virtual care.
4. Accelerate digital transformation - Changes in consumer behavior
Employing Telematics to Transform Workers' CompensationCognizant
Various pressures like heightened competition, rising costs and tougher regulations are compelling workers' compensation insurers to automate their systems, connect their people, processes and devices, and distill accurate, real-time information from the digital data that that encircles people, processes, organizations and devices. Telematics - technologies that integrate telecommunications and information can be the key to achieving these goals, all through a proactive, smarter, tightly connected environment.
The document discusses the challenges facing the current revenue cycle management (RCM) system in healthcare as the industry shifts towards a more consumer-driven model. It outlines how the growth of high-deductible health plans, consumer-directed healthcare spending, and the Affordable Care Act have significantly increased the proportion of provider revenue coming from patient payments. However, RCM systems remain focused on business-to-business transactions with insurers rather than the consumer experience. The HIMSS Revenue Cycle Improvement Task Force was formed to address this issue and create a vision for the next generation of RCM that prioritizes administrative cost containment, interoperability, and positive consumer engagement.
As well synthesized by Meg Whitman (CEO at Hewlett-Packard) “we’re now living in an Idea Economy, where the ability to turn an idea into a new product or service has never been easier”. This impact is pervasive on all industries, any company has to achieve enough agility to respond to market opportunities and threats and quickly turn ideas into reality.
For some years now, the “digital”-driven projects have become a priority for all the Insurance Groups. Let me add that here the term “digital” refers to several important aspects starting with a digitalized customer experience, which is completed by digital/technological processes aimed at improving the relationship with the clients and with the mid-term objective of maximizing the single client’s profitability.
Insurers are beginning - and those who are not doing so should start – to give serious thought to how they can build their strategy to incorporate the IoT into the insurance value chain.
The Internet of Things (IoT) is “the interconnection via the Internet of computing devices embedded in everyday objects, enabling them to send and receive data.” The most important factor in the IoT “equation” is the data – which is the main element providing value to the insurance company if harvested and analyzed in an adequate manner. In product development there should be a data collection & analysis approach embedded in the business model itself, otherwise the strategy will lack in bringing the desired added value. Having a “data mindset” in all the stages of the business will ensure that the implemented model will have the capacity to gather and analyze the high quantity of data provided by the interconnected devices and environments.
As Matteo Carbone who is an expert in the field says in his article, ultimately telematics is the integrated use of informatics and telecommunications; it is about registering, storing and analyzing data via telecommunication devices.
“Telematics could be one of the most relevant digital innovations in the insurance industry directly impacting the technical results. Due to the pervasive diffusion of the Internet of Everything, this approach could be extended from motor insurance to other insurance businesses.”
Shifting to Virtual Care in the COVID-19 Era: Analytics for Financial Success...Health Catalyst
The COVID-19 era has seen a decline in visits to ambulatory care practices by 60 percent and an estimated financial loss for primary care of over $15 billion. Shutting down elective care is financially unsustainable for health systems and for patients, who continue to need non-pandemic-related care. While virtual medicine has emerged as a viable and mutually beneficial solution for patients and providers, the shift from in-person to virtual health is logistically and financially complicated.
Processes and workflows from in-person care don’t directly translate to the virtual setting, and a financially successful shift requires deep understanding of the factors driving patient engagement and revenue in the new normal. As such, meeting patient needs and financial goals requires robust enterprisewide analytics that drill down to the provider level.
The Work Ahead: Moving Healthcare Organizations into the Digital AgeCognizant
For healthcare payers and providers, the digital revolution offers a powerful prescription for transforming an industry value chain in need of drastic modernization. In this installment of our Work Ahead research series, we look at the way forward to the future of work for healthcare.
The document discusses a technology company called SA Ignite that provides software solutions to help healthcare organizations comply with value-based care programs. It describes the challenges providers face with new programs like MIPS that tie Medicare reimbursements to quality metrics. SA Ignite's platform automates and simplifies tracking, measuring, and reporting on clinical and financial performance required by these programs. The platform provides end-to-end support through predictive analytics and expert guidance, helping organizations adapt to the shift toward value-based care.
Fixing the Insurance Industry: How Big Data can Transform Customer SatisfactionCapgemini
Insurers are facing a moment of truth. Customer satisfaction levels have hit worryingly low levels. According to a survey conducted by Capgemini in 2014, less than a third of customers globally are satisfied with the services of their insurance providers. Traditional insurers also face competition from new entrants who are determined to meet customer expectations. Non-traditional competitors, such as ecommerce majors and technology startups, are leveraging their data-rich customer interactions to create and sell insurance products.
Surprisingly, insurers seem to have overlooked the impact of Big Data on improving customer experience as they often focus their Big Data efforts on detecting fraudulent claims and improving underwriting profitability. In fact, only 12% of insurers consider the enhancement of customer experience as a top Big Data priority. This is startling given the poor levels of customer satisfaction in the insurance industry. In this research, we examine how insurers can effectively leverage customer data to improve customer satisfaction.
A Medical Price Prediction System using Boosting Algorithms through Machine L...IRJET Journal
This document presents research on using machine learning algorithms to predict medical insurance costs. The researchers trained and tested various regression algorithms on health insurance data to predict premium costs, including linear regression, random forest, and gradient boosting. Random forest regression performed best with an r2 score of 0.862533. Comparing actual and predicted costs through algorithms can help insurance companies choose the most accurate model for predicting customer premiums and improving medical access. The researchers conclude random forest was the best algorithm identified for accurately predicting health insurance costs.
Healthcare - Customer-Centric Healthcare Best Practices for CIO and CISOsNicholas Christiano Jr.
The document discusses the challenges healthcare CIOs and CISOs face in providing secure yet accessible patient information in light of new regulations. It notes that while healthcare organizations have traditionally focused on keeping data private, new rules will require all patient data to be online by 2016. This presents a dilemma for technology leaders who must ensure stringent security while supporting more open access. The document provides recommendations for best practices to address this challenge, including looking to other industries like banking that balance security and accessibility well. It stresses the importance of selecting the right technologies and solutions to protect against breaches while meeting patient and regulatory needs.
Our analysis regarding the evolution of what we believe is the development of the Healthcare Cloud. We discuss the siloed nature of HCIT in terms of legacy and cloud and discuss how we believe entities need to shift from point to platform solutions over time. We also lay out the fundamental underpinnings of what makes a compelling digital healthcare investment.
The 10 Most Impactful Healthcare Solution Providers of 2019Mirror Review
There have been some monumental healthcare industry challenges in recent years. One was the move towards value-based (VB) medicine whereby positive outcomes would result from fewer office visits and readmissions into inpatient facilities. The fee-for-service model with patients continually returning for their next appointments would disappear.
This document discusses the challenges insurance companies face in keeping up with technological advances. It notes that only 15% of insurance businesses consider themselves technologically progressive, and that outdated systems and a generational gap are hindering modernization efforts. However, improving efficiency, customer experience, fraud detection, and mobile technologies could help companies better serve customers and gain competitive advantages if they are willing to invest in new technologies like smart machines and the Internet of Things.
Practical guide on private funding for EU eHealth SMEsgetslidesdeck
The document discusses trends in digital health and investment in Europe compared to the US. Some key points:
1) Venture funding for digital health has grown rapidly in recent years on both sides of the Atlantic, with over $4 billion invested in the US in 2014 alone. However, investment in Europe still lags behind, though some large funding rounds have occurred.
2) Most digital health startups in Europe are still at the seed stage, but more are qualifying for Series A funding and beyond in recent years.
3) Factors holding back more investment in Europe include digital health initiatives still being in early stages of development and a fragmented healthcare system compared to the larger US market. Interviews with an investor
This document provides an overview of Synergetics' "Industry in Focus" series highlighting trends in the healthcare and life sciences industry and how Synergetics is positioned to help clients in this sector. It discusses the challenges facing third party administrators in healthcare, including balancing costs and provider reimbursement rates. It also identifies factors driving increasing healthcare costs and provides examples of ways Synergetics has helped healthcare clients improve efficiency and profitability through process improvements and technology optimization.
Most healthcare payers are just beginning to use big data following other industries. Big data can help reduce costs through early fraud detection and optimized routing. It can also reduce the time spent on tasks like audits and claims processing. Additionally, big data allows for new product development through personalized services based on individual health data. However, healthcare data requires strong security and privacy controls for any big data initiative.
Payers are being challenged as the industry shifts from volume-based care to a value-based reimbursement structure that would benefit the patient, the healthcare provider and the payer. New payment models including fee-for-service only and pay-for performance creates impetus for payers to acquire, aggregate, and analyze data.
Catching the Consumer Data Wave: A New Opportunity in the Insurance EcosystemCognizant
With the profusion of insurance consumer data coming online, the role of data intermediaries is emerging as a key player in the insurance ecosystem. Insurance distributors are especially well-suited to take the lead in analyzing leveraging user data and sharing insights to drive innovative product offerings and growth.
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A Smart and Connected Ecosystem for Faster Return to Work for Disability and Workers' Comp Insurers
1. A Smart and Connected Ecosystem
for Faster Return to Work for
Disability and Workers’ Comp Insurers
To combat the rising cost of claims and significantly improve
customer engagement, disability and workers’ comp insurers must
transform their RTW programs with innovative digital technologies
and digital health programs that deliver better and faster outcomes
as well as operational cost savings.
Executive Summary
Here’s the good news: The workers’ comp and
disability insurance sectors achieved solid
premiums results in 2015, as sales began to
increase post-recession.
1
The bad news: Despite
improved results, industry leaders remain wary,
primarily due to persisting high loss ratios.
In 2015, the workers’ comp industry experienced
losses of about $34.07 billion in value.
2
The large
deficit was primarily due to continuing medical
inflation and indemnity costs. The individual and
group disability sector also witnessed signifi-
cant losses, of more than $10 billion.
3
In addition,
with the worker population aging in developed
economies, insurers today find themselves with a
tough business predicament – a larger potential
for increased payouts.
Thus, the key mandate for disability and workers’
comp insurers is to reduce their loss ratios further.
To do this, they need to improve their measures of
loss prevention and loss reduction. The long tail
nature of workers’ comp liability claims makes
it even more important to reduce and prevent
claims. Our earlier paper, “Employing Telematics
to Transform Workers’ Compensation,” provided
a view on how workers’ comp insurers can deliver
enhanced loss prevention measures to their
clients.
Loss reduction can be achieved, in part, through
efficient and effective return to work (RTW)
programs. This paper discusses how digital
health concepts and innovative digital technolo-
gies can be used by disability and workers’ comp
insurers to transform RTW programs and enable
a safe and faster return to work for disabled
employees and injured workers. Even a few days
of early return to work could mean a significant
dollar savings for these insurers, making this an
important goal for them.
cognizant 20-20 insights | february 2016
• Cognizant 20-20 Insights
2. cognizant 20-20 insights 2
RTW Program Challenges
Most disability or workers’ comp insurers have
RTW programs in place to help facilitate the
disabled/injured to return back to work in a safe
and timely manner. However, continuously high
disability and workers’ comp claims indicate that
insurers can achieve even better results from
their RTW programs.
Based on our industry expertise, we have
identified the following key challenges faced
by the various stakeholders in the RTW
landscape.
Employer
• Lack of a comprehensive RTW policy within
the organization.
• No mechanism from which insights on
workers’/employees’ behavior during the
disability period can be derived.
• No analytics-driven decision-making on job
modification planning or alternate employment
planning.
• Absence of any standard procedures to ensure
compliance with all applicable employment
laws with respect to return to work, exposing
employers to potential lawsuits.
Disabled Employee/Injured Worker
• Lack of motivation among workers/employees
to return back to work faster.
• Ineffective communication between the
worker/employee and the other key RTW
stakeholders.
• Absence of a concrete RTW plan makes
workers/employees uncertain about the
future and increases their dependencies on
indemnity/disability income.
RTW Coordinator
• Lack of a centralized, integrated and collab-
orative platform to perform RTW tasks.
• No real-time mechanism for the RTW coordina-
tor and physician to monitor worker/employee
wellness status and prescribe changes.
• Lack of sufficient real-time worker/employee
wellness data to take timely actions. The
“day-in-the-life” data of an injured worker or
disabled employee is not captured.
• Lack of effective communication tools to
enable stronger collaboration with all other
key RTW stakeholders.
As a result, disability and workers’ comp
insurers must bolster their RTW programs by
creating a smarter and more connected RTW
ecosystem. A more robust ecosystem would
result in a win-win situation for all key RTW
stakeholders – employers, employee/worker,
insurers and physicians.
Crafting a Smarter and More
Connected RTW Ecosystem
The concept of connected cars and telematics
is transforming the auto insurance industry.
(See“DevelopingaComprehensiveSafeDriving
Program for Teens.”) With these connected
devices expanding into the healthcare space,
giving rise to digital health concepts, the case
becomes all the more compelling for insurers to
leverage these devices and transform the RTW
ecosystem in a similar way.
Connected devices such as wearables and
medical sensors powered by social, mobile,
analytics and gamification technologies have
the potential to completely transform the RTW
space.
Continuously high disability
and workers’ comp claims indicate
that insurers can achieve
even better results from their
RTW programs.
Connected devices such
as wearables and medical
sensors powered by social,
mobile, analytics and
gamification technologies
have the potential to
completely transform the
RTW space.
3. cognizant 20-20 insights 3
As depicted, this smart ecosystem would facilitate
two key aspects:
• Help generate a wealth of continuous, real-time
wellness data (what we call Code Halos™)
5
from
injured workers/disabled employees.
• Facilitate better operational effectiveness and
efficiency across stakeholder functions:
>> Enable real-time monitoring of the injured’s
medical conditions for physicians and other
stakeholders.
>> Enable better recovery experience for the
injured worker/disabled employee.
>> Enable RTW coordinator to be more
productive and effective.
>> Enable better decision-making and produc-
tivity gains for employers.
As noted, a plethora of real-time data can be
generated by the injured worker or disabled
employee with this new smart and connected RTW
ecosystem. Figure 2 (next page) highlights some
of these key data points that can be collected.
Such breadth of data has not been available until
recently. But with more data in hand, insurers have
better scope upon which to improve their RTW
functions across stakeholder functions (see Figure
3). It also provides them with additional analytical
insights to inform better decision-making.
Quick Take
The global mobile healthcare market is estimated
to reach $20.7 billion by 2018 at a CAGR of
26.7% and reach more than 100 million devices
annually.
4
Connected medical devices such as
diagnostic equipment, implantable devices and
personal instrumentation devices are on the rise
too. The penetration of these devices among the
assistive population is also very high.
The key for insurers is to seamlessly integrate with
these devices, and extract meaning from the data
captured to facilitate a safe and faster return to
work. If the employer has not invested in providing
such devices to injured workers or disabled
employees, the insurer can take it up on a case-by-
case basis, where the cost can be borne fully by the
employer or by the insurer, or it can be shared.
Connected Devices and Wellness
Growth Market for Wearables
Figure 1
Wearable
pain
relief patch
Smart
socks
Smart
watches
Smart
fitness bands
Electronic
sensor
tattoos
Wearable
contact lens
1 in 3 U.S. and UK
consumers are willing to
share personal data with
health care providers.
FDA approved sensor
pill to monitor
medications intake.
88% of physicians
want patients to
monitor health at home.
$2 b
$2.7 b
$5.8 b
2012
2014
2019
Health care data
volume to explode
to 50X in 2020.
Fitness and medical wearables account for 60% of the wearable market
Heartbeat
Monitor
Blood SugarMonitorPedometers
Wearable Lens
Pulse Monitor
Nike Fuel
Bands
4. cognizant 20-20 insights 4
Enabling Real-Time Monitoring of Medical
Conditions by Physicians, Other Stakeholders
The traditional way of monitoring progress
involves several repeated hospital visits and
tests. This new RTW ecosystem, however, has
the potential to enable more real-time collabora-
tion between physicians and patients, thanks to
connected devices such as quantified self-move-
ment devices (e.g., Kinect, Fitbits and related
wearables). A physician could program physical
exercises on Kinect, for example. The injured or
disabled then performs the exercises, as guided
by Kinect, which delivers progress reports to
the individual’s physician. The physician can
then use the data contained in the report to
monitor the injured/disabled worker’s recovery.
Relevant and allowed information can also be
extended to other stakeholders – RTW coordina-
Daily
Activities
Heartbeat, Pulse,
Weight,
Glucose Level,
Body Temperature, etc.
Current Injury
Condition
Allergic
Inputs
Sleep
Patterns
Activity
Time
Cognitive
Inputs from
Social Platforms
Prescription
Compliance
Personal Code Halos: Analytical Data for an
Injured Worker or Disabled Employee with Connected Devices
Figure 2
Motion-sensing
technology like
Kinect enabling a
real-time and
remote monitoring
of the injured's
health conditions.
Health monitoring
devices like Fitbits,
bands and other
wearables collect
real-time health data
of the injured worker’s
pulse, heartbeat, blood
pressure, sugar level, etc.
Enabling a more productive
and effective RTW through
real-time monitoring, analytics
and communications functions.
Enabling a better recovery
experience through
continuous engagement
with other stakeholders,
improved awareness,
self-servicing capabilities
and gamification.
Enabling proactive job
modification decision-
making through
analytical insights.
Enabling real-time
monitoring of the
injured conditions
and taking
required actions.
Social communities
that build peer
collaborations and
access to virtual
health coaches.
1 2 3 4
Enabled through technologies like:
Gamification to
improve injured/
disabled worker’s
motivation for a
faster RTW
through
awareness-related
games and
reward schemes.
Mobility enabling a
real-time
collaboration
between stakeholders
(worker, physician,
RTW coordinator,
employer) and enabling
self-servicing capabilities.
A smarter and connected ecosystem across stakeholders
RTW
Coordinator
Employer
Injured
Worker/
Disabled
Employee
Physician
Transforming the RTW Ecosystem with Connected Devices
Figure 3
5. 11:00am
12:30pm
2:00pm
9:00pm
Wakes up
in the morning,
logs onto the
mobile app.
3:00pm
5:00pm
6:30am
8:00am
10:30am
Checks his claims status.
Realizes he has to
complete a form.
Completes the form
and e-signs it.
Plays “return to work”
game, reads articles.
Online chat
with ability champions
for specific advice.
Receives an
alert to take
medicine and takes
the prescribed
medicine.
Receives an alert
to take medicine.
Takes the
prescribed medicine.
Checks financial benefit
of returning to work
earlier on his
RTW calculator.
Video chat with the
RTW coordinator
who calls to check his status.
Does his exercises
in front of the Kinect device
and submits
report for review.
tors, employers and insurers – who could use it to
improve RTW functions/operations.
Enabling a Better Recovery Experience for
Injured/Disabled
Injury can bring about emotional distress for a
worker/employee. There are risks of the injured/
disabled experiencing cognitive disorders (i.e.,
mental or physical illness occurring simulta-
neously due to financial pressures, social life
cutoffs, dietary restrictions, etc.). These cognitive
conditions have a great impact on the number of
RTW days. For example, the median duration of
RTW for a lumbar strain is 10 days, while it is 26
days for depression with anxiety.
6
When these two
conditions coexist, median RTW jumps to 153 days.
It is thus important to maintain better emotional
levels for the injured/disabled. In current RTW
programs, organizations often overlook the
injured/disabled’s emotional enablement and
engagement levels during their recovery. By con-
tinuously engaging with the worker/employee
and by supporting him with self-servicing tools,
education and motivational techniques, the
worker/employee will stay connected, motivated
and focused on faster RTW (see Figures 4 and 5).
Improved Injured/Disabled Awareness, Engagement
During the Recovery Period
Improving Injured’s Awareness
Know the entire RTW lifecycle – who’s involved and relevant dates.
Receive announcements, notifications, health guidance and wellness tips.
Compare employer’s expectations with physician’s progress report.
View financial benefits from a faster RTW.
View peer RTW comparison for similar age, gender and disability.
Providing Servicing Capabilities to Injured
Manage the claims or the payments involved and track status.
Tools to calculate payments.
Interactive/enhanced communication with employer and insurer.
Receive alerts and notifications to facilitate on-time prescriptions.
View job modification, alternate employment, self employment FAQs.
Assist in alternate employment – resumé upload on job sites; interview status updates; calendar, venue, job
details.
View Social Security FAQs for assistance with SS filing.
Continous Engagement with Injured
Gamification for education and motivation; leaderboards for engagement.
Engage in online communities, blogs, etc. and receive tips/notifications on faster RTW.
Best-practice sharing of peers who had successful RTW with similar injury.
Figure 4
Figure 5
A Day in the Life of the Injured Worker or Disabled Employee
cognizant 20-20 insights 5
6. Quick Take
Quick Take
Gamification is garnering significant traction
in the insurance sector, especially within the
health insurance industry. Recent cases of
benefits achieved by health insurers from gami-
fication have emerged. For instance, Cigna and
Hope Lab jointly offered Re-Mission 2 for young
cancer patients to stick with their treatments.
7
Research shows that playing the games boosts
players’ positive emotions, increases self-effi-
cacy (their belief in their ability to fight cancer)
and shifts attitudes about chemotherapy,
which lead to better adherence to prescribed
treatments. A recent study by Microsoft reveals
an increasing number of gamers originating
from the assistive community – people injured
or with disabilities.
8
Insurers should thus look to power this ecosystem
using gamification techniques. Among the consid-
erations are to develop games in such a way that
they have impact on specific psychological and
behavioral outcomes associated with successful
treatment. Key gaming techniques insurers should
investigate include:
• Continuous and positive reinforcement of
the need to return to work in a safe and
timely manner through
gamifications.
• Leaderboards featuring the results
of other RTW gamers, creating a
competitive environment
fostering a focus on
returning to work.
cognizant 20-20 insights 6
What if an injured worker or disabled employee is not motivated enough
to cooperate with the RTW program or doesn’t comply with the prescribed
medications or even play RTW games? Success thus resides in the heightened
motivational levels and the participation among injured workers/disabled
employees. Reward schemes would help achieve this and also help sustain
motivational levels. In this new ecosystem, they can also earn rewards for
activities that include:
• Compliance with prescriptions.
• Providing mentorship to others who are injured/disabled.
• Contribution to blogs.
• Engaging in “faster RTW”-related games.
Earned rewards points can be redeemed by workers/employees for personal
insurance premium discounts, cash-backs, vouchers or existing reward
programs of the employers.
Gamification: A Tool to Improve Engagement, Motivational Levels
Ensuring the Sustenance of RTW Motivation Through Rewards
............................................................................................................................................................................................................................................................................................................................................................................................................................................................
7. cognizant 20-20 insights 7
Enabling a More Productive and Effective
RTW Coordinator
One of the key opportunities for insurers is
making their RTW coordinators more productive.
Their productivity may be undermined by a lack
of data and poor communications. But with this
smart ecosystem, they have continuous access
to more data and collaborative features, through
which they can perform their daily tasks better,
better manage the injured worker or the disabled
employee, provide more value to the employers
and, therefore, deliver improved RTW outcomes
to the insurer.
Figure 6 illustrates how a RTW coordinator is
better enabled for improved outcomes.
Facilitating RTW Coordinator Productivity
Improved Enablement Through Self-Servicing Capabilities
RTW portfolio dashboard for effective RTW management.
Workflow management, automatic “task/action” created from claim system through business rules.
Track real-time progress of the health of the worker/employee.
Monitor worker/employee prescription compliance.
Create wellness report to send to physician.
Create job modification planning report to send to employer.
Conduct exit interview to capture best practices during the RTW journey.
Manage claim outcome (action/referral/outcome).
Capture expenses/time spent on administrative services.
Deriving Better Insights Through Enhanced Analytical Information
Plan effective job modifications based on analytics insights on successful/unsuccessful
modification planning done by other similar employers.
Plan effective alternate employments based on analytics insights on successful/unsuccessful alternate
employment done by other similar employers.
View and plan based on guidelines and benchmarking data obtained from external disability duration providers.
Benchmark self performance vis-a-vis other coordinators in terms of RTW costs reduced or days reduced.
Figure 6
Providing Employee Planning and Monitoring Capabilities
Improved Monitoring and Planning
Receive alerts and notifications regarding the wellness status of the injured/disabled.
Collaborate with RTW coordinators, injured/disabled workers and physicians.
Proactive job modification planning of existing job.
Proactive job modification planning for a new job in a different department.
Deriving Better Business Insights Through Enhanced Analytical Information
Monitor reporting metrics like RTW costs, days, etc.
View benefit projections in terms of insurance costs in faster RTW.
View successful job modifications by peer employer groups.
View job modification possibilities for a particular injury/disability.
View aggregated claims trends – losses per industry, % injury per body part, etc.
Ease of Doing Business Through Self-Servicing Capabilities
View details of specific claims – status, payments, payment details, etc.
Receive announcements (state related, worker advocacy coordinator program, etc.).
View ADAAA compliance checklist and ensure compliance.
Figure 7
8. Enabling Improved Employer Engagement,
Better Decision-Making
Employers typically are disconnected from
affected employees during the RTW period, except
when there is a need for job modification. The new
ecosystem transforms this, where the employer
is continuously kept in the loop on the injured/
disabled employee’s progress. When a job modi-
fication need comes into play, it is easier for the
RTW coordinator to work with the employer to
make the right decision. The analytical insights
presented can help improve employer awareness
that job-planning activities are the norm, and that
similar businesses are doing it successfully.
This new RTW ecosystem is also capable of
providing several predictive and prescriptive
analytical RTW insights. They can enable several
self-servicing capabilities on their mobile app such
as the creation of a work plan, viewing of claim
details, etc. which make their daily jobs easier.
The Result: Win-Win-Win for All
Stakeholders
Enabling injured workers or disabled employees
to return to work in a safe and timely manner
will benefit the insurer, employer and injured
worker or disabled employee, resulting in a win
for all. Employers benefit from reduced produc-
tivity losses, lower insurance costs and enhanced
compliance. Injured workers or disabled employees
benefit through faster income restoration and
subsequent lifestyle gains. Insurers benefit directly
through reduced claims costs and indirectly
through improved brand image among agents and
customers (see Figure 8).
Looking Ahead
A new era of digital health is emerging, where
healthcareisbroughttothepatient’shomethrough
quantitative movement devices and digital tech-
nologies. Real-time data-sharing and collaboration
platforms provide for completely new insights into
the “day in a life” of a disabled/injured employee/
worker to the insurer, which were not available
before.
Connected devices and digital technologies will
fundamentally alter the way in which disability
and workers’ comp insurers will establish and
administer their RTW programs. A smarter and
connected RTW ecosystem will radically change
the scope of possibilities available to insurers,
companies and employees to continuously improve
RTW outcomes. Early adopters will gain early-
mover advantages that can deliver and sustain
competitive edge versus those insurers that have
not embraced this new RTW ecosystem approach
which is enabled by Code Halo thinking.
Faster RTW provides benefits for injured workers or disabled employees by:
Restoring Income
• 76% of Americans live paycheck to paycheck
(Source – Bankrate survey, 2014).
Average disability pay is only 2/3rd of
average weekly wage. Thus, resumption to
100% income will boost injured/disabled
workers’ satisfaction levels.
Improving Satisfaction
• Less disruption to family, work and social life.
• Improved employment and financial security.
• Less time spent recovering from injury.
• Reduced level of cognitive impairment.
Faster RTW provides benefits for employers by:
Reducing Productivity Impact
• Frequency of lost time.
• Length of time lost.
• Productivity losses. Total
direct and indirect costs
with disabled employee or
injured worker absenteeism
is 3.25% of payroll (Source –
SHRM survey, 2013).
Reducing Insurance Costs
• Workers’ compensation or
disability premium costs.
• Lawsuits.
• Wage replacement costs.
• Worker replacement costs.
Better Compliance
• Compliance with Americans
with Disabilities Act
Amendment Act (ADAAA)
and the applicable state
statues.
Faster RTW provides benefits for insurers by:
Reducing Costs
• Reduced claims
payouts.
• Reduced claims
handling costs.
Improving Business Benefits
• More analytical information for better decision-making and outcomes
across product development, underwriting and claims.
• Reduction in cancellations and non-renewals due to improved customer/
client satisfaction.
• Increased satisfaction of agents selling workers’ comp/disability insurance.
• Effective use of acquisition cost and customer retention.
• Increased competitive edge for insurers.
• Increased cross-sell opportunities.
How All Stakeholders Benefit from Faster RTW
Figure 8
cognizant 20-20 insights 8
9. 9cognizant 20-20 insights
Quick Take
Our WorkActivate™ enables all key RTW stake-
holders – disabled employees or injured workers,
employers, insurers, RTW coordinators and
physicians – to collaborate tightly and achieve
better RTW outcomes. Delivered as-a-service,
WorkActivate is designed to support both workers’
compensation and disability RTW scenarios. Key
capabilities include:
• Communicate: By leveraging innovative com-
munications tools (text, video conferencing,
etc.), the platform helps to establish a regular
and more personal communications channel
that connects all key stakeholders.
• Collaborate: Throughout the RTW journey,
WorkActivate helps to develop a one-on-one
partnership with the employee/worker.
• Educate: The platform provides education and
awareness on a range of topics: the overall
claims process, disability durations, health and
wellness, fitness and career development.
• Measure/Manage: WorkActivate analytics
provides continual measurement of the
activities and progress of each key stakeholder
in the RTW process. Ongoing data analysis and
management ensures efficiency and effective-
ness in each interaction.
• Motivate: The platform leverages motivational
tools and techniques to keep the employee/
worker connected to the work environment
and focused on return to work.
• Comply: WorkActivate helps ensure employer
compliance with all applicable employment
laws associated with RTW.
Our platform integrates with an insurer’s data
and application landscape. It includes five mobile
and/or desktop applications that support the
day-to-day activities of each of the key RTW
stakeholders. Key features include:
• An integrated platform that provides mobile-
based applications to support each of the key
RTW stakeholders.
• Collaboration tools to foster and enhance inter-
action and collaboration amongst the stake-
holders.
• Third-party educational content in the areas of
health and wellness, fitness and career devel-
opment.
• Integration with wearable devices and fitness
platforms such as Fitbit and Kinect.
• Gamification tools and techniques to keep
workers/employees motivated.
• Data analytics to measure and track wellness
plans versus industry benchmarks.
• A security platform to ensure zero compromise
in personal data.
Extending and Enhancing RTW Programs
cognizant 20-20 insights 9
10. cognizant 20-20 insights 10
Footnotes
1 http://www.insurancejournal.com/magazines/features/2015/09/21/381741.htm;
http://www.businessinsurance.com/article/20140428/NEWS08/140429839.
2 2015 Statistical Study: U.S. Workers’ Compensation – Industry’s Top 25 Adjusted Loss Ratio Increased to
62.7%, AM Best.
3 http://www.disabilitycanhappen.org/research/CDA_LTD_Claims_Survey_2014.asp.
4 http://mhealthwatch.com/the-booming-business-of-mhealth-app-marketing-21908/.
5 For more on Code Halos and innovation, read “Code Rules: A Playbook for Managing at the Crossroads,”
Cognizant Technology Solutions, June 2013, http://www.cognizant.com/Futureofwork/ Documents/
code-rules.pdf, and the book, “Code Halos: How the Digital Lives of People, Things, and Organizations Are
Changing the Rules of Business,” by Malcolm Frank, Paul Roehrig and Ben Pring, John Wiley & Sons, 2014,
http://www.wiley.com/WileyCDA/WileyTitle/productCd-1118862074.html.
6 Preventing and Identifying Comorbidity to Reduce the Impact on Workers’ Compensation Claims, Procura,
2013, http://www.procura-inc.com/pdf/press-releases/FINAL_Comorbidities_Position_Paper_2014.pdf.
7 http://newsroom.cigna.com/NewsReleases/games--tech-keep-young-cancer-patients-connected.htm.
8 Microsoft study on the potential market of accessible technology in the United States, http://msdn.
microsoft.com/en-us/library/windows/desktop/ee415219(v=vs.85).aspx.
Quick Take
Integrating the New RTW Ecosystem with the
Employer’s Existing Health and Wellness Programs
Most employers have active, institutionalized health and
wellness programs. Insurers can look to provide
the employers with a better value proposition where
they can maximize the ROI of these programs by
integrating them within this new ecosystem.
This enables employers to attain optimized
value from their investments in health and
wellness programs. It also provides a positive
feeling to employees/workers that their
employers are providing wellness programs
and helping in their recovery.