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.
Extending the Case for Digital: Health Plan Members SpeakCognizant
Cognizant's exclusive study shows that healthcare consumers’ appetite for digital continues to expand and deepen across all channels and age ranges: 10 key findings that will help health plans refine their digital member experience strategies in 2018 and beyond.
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.
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.
Global healthcare investment rose for the seventh consecutive quarter to surpass $34.7 billion across nearly 1,600 deals. Digital health startups accounted for 40% of deals and funding. European investment nearly doubled quarter-over-quarter while Asian investment fell for the second quarter. A flood of new entrants pushed early-stage deal share above 50% for the first time since 2019, as over half of global healthcare deals were early-stage.
Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...Cognizant
Our latest research reveals that by applying digital remedies to precisely targeted process areas, organizations can relieve operational stress and generate improvements, yielding outsized results that ripple across the process value chain.
Optimizing the Content Supply Chain: What Manufacturing Can Teach the Broadca...Cognizant
By applying best practices and models used to optimize physical supply chains, broadcasters can more effectively manage their digital content operations.
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
Extending the Case for Digital: Health Plan Members SpeakCognizant
Cognizant's exclusive study shows that healthcare consumers’ appetite for digital continues to expand and deepen across all channels and age ranges: 10 key findings that will help health plans refine their digital member experience strategies in 2018 and beyond.
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.
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.
Global healthcare investment rose for the seventh consecutive quarter to surpass $34.7 billion across nearly 1,600 deals. Digital health startups accounted for 40% of deals and funding. European investment nearly doubled quarter-over-quarter while Asian investment fell for the second quarter. A flood of new entrants pushed early-stage deal share above 50% for the first time since 2019, as over half of global healthcare deals were early-stage.
Digital Process Acupuncture: How Small Changes Can Heal Business, and Spark B...Cognizant
Our latest research reveals that by applying digital remedies to precisely targeted process areas, organizations can relieve operational stress and generate improvements, yielding outsized results that ripple across the process value chain.
Optimizing the Content Supply Chain: What Manufacturing Can Teach the Broadca...Cognizant
By applying best practices and models used to optimize physical supply chains, broadcasters can more effectively manage their digital content operations.
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
mHealth Israel_Israel H1 2015 Digital Health overview june 29Levi Shapiro
"Israel H1 2015 Digital Health VC Investment Overview". Presentation by Levi Shapiro, Founder, mHealth Israel, at the mHealth Israel Investors Summit, June 29, 2015 in Jerusalem. Includes subsector breakouts by model, revenue stage, b2b vs b2c, etc
April 2013 StartUp Health Insights Funding ReportStartUp Health
See StartUp Health Insights (http://www.startuphealth.com/insights) for the most comprehensive digital health funding database. Apply to StartUp Health Academy here: http://www.startuphealth.com/about-us/application/
This is a Business plan for a Digital Health Care platform, with Brief Industry Overview, Scope of Internet in Health Industry
Our Business Model Canvas, Top Competitors Analysis, Digital Go to Market Strategy, Revenue Model Options, KPIs, Monthly Unique Visitor(UV) vs Revenue($) Estimates, Implementation Plan, Team Planning and Scope.
"Healthcare Services at Merck & Co". Presentation by Guy Eiferman, President of Healthcare Services and Solutions, Merck & Co., made at the mHealth Israel Investors Summit, June 29, 2015, in Jerusalem
AXA Europe- Unlocking value from digital healthLevi Shapiro
Unlocking value from digital health, presentation for mHealth Israel, May 19th, 2021, by Somesh Chandra – Chief Health Officer, European Markets, AXA Group. Health expenditure has outpaced economic growth, raising sustainability concerns. Barriers to access persist, particularly amongst the less well-off. Digital health services expected to grow at 21.8% CAGR from 2020-2030, adoption accelerated due to COVID-19 pandemic. 90% of the world's data has been created in the past 2 years. AXA-Microsoft Partnership – Launch of the Digital Healthcare Platform. AXA’s ambition is to be at the heart of the Health Ecosystem to meet customer demands in this new normal world. This Digital Health Orchestration requires close collaboration with all players (services providers, insurers,
companies, regulators etc.) of the health industry. AXA Italy Case Study – An integrated, outcome based and personalized journey focussed on solving customer’s health problems. Portal is already live! Solution is live & supporting customers to solve
their health needs in Italy & Germany.
mHealth Israel_Levi Shapirosrael digital health overviewLevi Shapiro
This document provides an overview of the Israeli digital health sector, including statistics on funding and deals. It notes that Israel has experience in relevant technologies like sensors, algorithms, encrypted communications and cloud computing. The healthcare system has mandated electronic medical records for 22 years. Israeli digital health startups are mostly early-stage, with limited revenue generation so far. Funding of startups in this sector has increased dramatically since 2009. The document concludes with tips for digital health startups, such as quantifying the value proposition to attract funding from pharmaceutical companies seeking to enter digital health.
Prudential Pulse- Transforming The Future of Health & Wellness, Susan Fanning...Levi Shapiro
Introduction of Prudential's Pulse prorgam in South East Asia for behavioral health. This is a First-of-its-kind, All-in-One & AI-powered. Pulse Regional Roll Out includes Insights on Thai people’s health derived from Pulse. Starting internally- Tackling Mental Health for Prudential Employees. Encouraging well being for the under 35 sector, including dance.
The virtual clinical trials market is expected to reach $13.78 billion by 2027, growing at a CAGR of 12.6%. Key drivers of growth include technological innovation in virtual trials and efforts to increase adoption. The market is segmented by design, indication, phase, and region. North America currently contributes most to market revenue due to supportive infrastructure and regulations. Major players are focused on R&D, partnerships, and new technologies to improve products and expand customer bases.
SWORD Phoenix is a digital therapy solution for motor rehabilitation that uses motion trackers, a mobile app, and web portal to increase access to treatment, engagement, and data analysis while reducing costs. It has been clinically validated and recognized internationally. SWORD plans to expand its state-of-the-art enhanced rehabilitation centers to the US and China through partnerships, having already deployed the first center in Hangzhou.
2017 Healthcare Trends. A look into the Top 5 Healthcare Trends for 2017 from www.klara.com. Manage your healthcare practice operations efficiently and prepare for the future with this analysis of the top healthcare trends predicted for 2017. Technology is a key theme in this report.
White Paper - Digital strategy and the shift to value based careTerence Maytin
Summary: The U.S. healthcare system is rapidly transitioning from fee-for-service to value- based care as part of massive and ongoing industry-wide transformation. Digital strategy is evolving to meet new challenges, help drive disruptive innovation, and better engage a large, growing audience of connected health consumers.
COVID-19 has significantly impacted mental health and increased focus on treatment and support. Telehealth has grown due to reduced access to healthcare services and stress on health systems. Employers also face challenges supporting staff mental health due to changes in work environments and protocols. Looking forward, 2021 will see continued prioritization of mental health and evaluating impacts through the lens of the ongoing pandemic.
A Vision for U.S. Healthcare's Radical MakeoverCognizant
The healthcare industry is on the verge of a disruptive change that will significantly reshape our experiences and reorient our expectations across the provider and payer value chain.
From surgical robots to “smart hospitals,” the digital transformation is revolutionizing patient care in new and exciting ways. Digital health technologies will transform healthcare, for example mobile phones have given health care providers the ability to engage with patients 24x7. We predict that these digital healthcare trends will emerge in 2017-18, which present an opportunity to use them to improve care and save costs. Let's take a look at what trends are shaping the future of digital healthcare, and what are the medical technologies to be adopted.
The Digital Metamorphosis of the Pharma IndustryLen Starnes
The document discusses the digital transformation of the pharmaceutical industry. It notes changes like aging populations, rising healthcare costs, empowered patients, and new business models. Doctors are becoming "digital" and using social networks and mobile devices. Patients are forming online communities to share health data. The document suggests pharmaceutical companies must adapt by using digital tools, empowering sales forces with mobile technology, and building trust with doctors, patients, and online communities. Pharma must learn from the digital behaviors of doctors and patients to keep pace with their evolving expectations.
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.
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
Use AI to Build Member Loyalty as Medicare Eligibility Dates Draw NearCognizant
Payers can use AI, data analytics, experience design and marketing automation to improve their Medicare Advantage (MA) plan conversion and retention rates. Currently, payers convert only 10-20% of eligible members to their MA plans, but these strategies could potentially increase conversion rates to over 40%. This represents an annual opportunity to gain over 40,000 new MA plan members and $480 million in revenue. Developing a comprehensive strategy that uses member segmentation, identification of best-fit plans, optimized outreach and enrollment processes could significantly grow a payer's MA business. Proactive monitoring of member needs and issues through technologies like AI is also key to improving member satisfaction and retention rates in MA plans.
With 2017 coming to a close, we present the second annual Healthcare Monitor Awards, offering an analysis of the state of the health insurance industry in terms of the best digital resources available to members. This year we benchmark industry leaders across six critical categories, awarding gold, silver and bronze medals based on how well firms meet our criteria.
The gold medal is reserved for capabilities that offer an exceptionally valuable service to members in a user-friendly interface. The silver medal recognizes resources that offer strong functionalities while suffering from a few small flaws. Finally, the bronze medal goes to resources that, though imperfect, offer members an excellent or uniquely valuable service. In this slide deck, we highlight the gold medal winners across all categories.
mHealth Israel_Israel H1 2015 Digital Health overview june 29Levi Shapiro
"Israel H1 2015 Digital Health VC Investment Overview". Presentation by Levi Shapiro, Founder, mHealth Israel, at the mHealth Israel Investors Summit, June 29, 2015 in Jerusalem. Includes subsector breakouts by model, revenue stage, b2b vs b2c, etc
April 2013 StartUp Health Insights Funding ReportStartUp Health
See StartUp Health Insights (http://www.startuphealth.com/insights) for the most comprehensive digital health funding database. Apply to StartUp Health Academy here: http://www.startuphealth.com/about-us/application/
This is a Business plan for a Digital Health Care platform, with Brief Industry Overview, Scope of Internet in Health Industry
Our Business Model Canvas, Top Competitors Analysis, Digital Go to Market Strategy, Revenue Model Options, KPIs, Monthly Unique Visitor(UV) vs Revenue($) Estimates, Implementation Plan, Team Planning and Scope.
"Healthcare Services at Merck & Co". Presentation by Guy Eiferman, President of Healthcare Services and Solutions, Merck & Co., made at the mHealth Israel Investors Summit, June 29, 2015, in Jerusalem
AXA Europe- Unlocking value from digital healthLevi Shapiro
Unlocking value from digital health, presentation for mHealth Israel, May 19th, 2021, by Somesh Chandra – Chief Health Officer, European Markets, AXA Group. Health expenditure has outpaced economic growth, raising sustainability concerns. Barriers to access persist, particularly amongst the less well-off. Digital health services expected to grow at 21.8% CAGR from 2020-2030, adoption accelerated due to COVID-19 pandemic. 90% of the world's data has been created in the past 2 years. AXA-Microsoft Partnership – Launch of the Digital Healthcare Platform. AXA’s ambition is to be at the heart of the Health Ecosystem to meet customer demands in this new normal world. This Digital Health Orchestration requires close collaboration with all players (services providers, insurers,
companies, regulators etc.) of the health industry. AXA Italy Case Study – An integrated, outcome based and personalized journey focussed on solving customer’s health problems. Portal is already live! Solution is live & supporting customers to solve
their health needs in Italy & Germany.
mHealth Israel_Levi Shapirosrael digital health overviewLevi Shapiro
This document provides an overview of the Israeli digital health sector, including statistics on funding and deals. It notes that Israel has experience in relevant technologies like sensors, algorithms, encrypted communications and cloud computing. The healthcare system has mandated electronic medical records for 22 years. Israeli digital health startups are mostly early-stage, with limited revenue generation so far. Funding of startups in this sector has increased dramatically since 2009. The document concludes with tips for digital health startups, such as quantifying the value proposition to attract funding from pharmaceutical companies seeking to enter digital health.
Prudential Pulse- Transforming The Future of Health & Wellness, Susan Fanning...Levi Shapiro
Introduction of Prudential's Pulse prorgam in South East Asia for behavioral health. This is a First-of-its-kind, All-in-One & AI-powered. Pulse Regional Roll Out includes Insights on Thai people’s health derived from Pulse. Starting internally- Tackling Mental Health for Prudential Employees. Encouraging well being for the under 35 sector, including dance.
The virtual clinical trials market is expected to reach $13.78 billion by 2027, growing at a CAGR of 12.6%. Key drivers of growth include technological innovation in virtual trials and efforts to increase adoption. The market is segmented by design, indication, phase, and region. North America currently contributes most to market revenue due to supportive infrastructure and regulations. Major players are focused on R&D, partnerships, and new technologies to improve products and expand customer bases.
SWORD Phoenix is a digital therapy solution for motor rehabilitation that uses motion trackers, a mobile app, and web portal to increase access to treatment, engagement, and data analysis while reducing costs. It has been clinically validated and recognized internationally. SWORD plans to expand its state-of-the-art enhanced rehabilitation centers to the US and China through partnerships, having already deployed the first center in Hangzhou.
2017 Healthcare Trends. A look into the Top 5 Healthcare Trends for 2017 from www.klara.com. Manage your healthcare practice operations efficiently and prepare for the future with this analysis of the top healthcare trends predicted for 2017. Technology is a key theme in this report.
White Paper - Digital strategy and the shift to value based careTerence Maytin
Summary: The U.S. healthcare system is rapidly transitioning from fee-for-service to value- based care as part of massive and ongoing industry-wide transformation. Digital strategy is evolving to meet new challenges, help drive disruptive innovation, and better engage a large, growing audience of connected health consumers.
COVID-19 has significantly impacted mental health and increased focus on treatment and support. Telehealth has grown due to reduced access to healthcare services and stress on health systems. Employers also face challenges supporting staff mental health due to changes in work environments and protocols. Looking forward, 2021 will see continued prioritization of mental health and evaluating impacts through the lens of the ongoing pandemic.
A Vision for U.S. Healthcare's Radical MakeoverCognizant
The healthcare industry is on the verge of a disruptive change that will significantly reshape our experiences and reorient our expectations across the provider and payer value chain.
From surgical robots to “smart hospitals,” the digital transformation is revolutionizing patient care in new and exciting ways. Digital health technologies will transform healthcare, for example mobile phones have given health care providers the ability to engage with patients 24x7. We predict that these digital healthcare trends will emerge in 2017-18, which present an opportunity to use them to improve care and save costs. Let's take a look at what trends are shaping the future of digital healthcare, and what are the medical technologies to be adopted.
The Digital Metamorphosis of the Pharma IndustryLen Starnes
The document discusses the digital transformation of the pharmaceutical industry. It notes changes like aging populations, rising healthcare costs, empowered patients, and new business models. Doctors are becoming "digital" and using social networks and mobile devices. Patients are forming online communities to share health data. The document suggests pharmaceutical companies must adapt by using digital tools, empowering sales forces with mobile technology, and building trust with doctors, patients, and online communities. Pharma must learn from the digital behaviors of doctors and patients to keep pace with their evolving expectations.
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.
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
Use AI to Build Member Loyalty as Medicare Eligibility Dates Draw NearCognizant
Payers can use AI, data analytics, experience design and marketing automation to improve their Medicare Advantage (MA) plan conversion and retention rates. Currently, payers convert only 10-20% of eligible members to their MA plans, but these strategies could potentially increase conversion rates to over 40%. This represents an annual opportunity to gain over 40,000 new MA plan members and $480 million in revenue. Developing a comprehensive strategy that uses member segmentation, identification of best-fit plans, optimized outreach and enrollment processes could significantly grow a payer's MA business. Proactive monitoring of member needs and issues through technologies like AI is also key to improving member satisfaction and retention rates in MA plans.
With 2017 coming to a close, we present the second annual Healthcare Monitor Awards, offering an analysis of the state of the health insurance industry in terms of the best digital resources available to members. This year we benchmark industry leaders across six critical categories, awarding gold, silver and bronze medals based on how well firms meet our criteria.
The gold medal is reserved for capabilities that offer an exceptionally valuable service to members in a user-friendly interface. The silver medal recognizes resources that offer strong functionalities while suffering from a few small flaws. Finally, the bronze medal goes to resources that, though imperfect, offer members an excellent or uniquely valuable service. In this slide deck, we highlight the gold medal winners across all categories.
This document summarizes key findings from the 2013 Maritz Loyalty Report on consumer loyalty programs in the United States. Some of the main findings include:
1) Consumers participate in an average of 7.4 loyalty programs but feel they have room for more. Communications play a significant role in satisfaction, but only 53% find communications relevant.
2) Privacy is a growing concern, with 24% citing it as a barrier to enrollment. Personalization requires personal information, but consumers find some uses of data "creepy."
3) Loyalty programs influence consumer behavior, with 57% modifying purchase behavior to earn rewards, but 53% stopped participating in at least one program last year.
This document discusses how insurers can use advanced analytics to optimize their distribution operations. It begins by noting that the insurance distribution landscape is evolving, with new channels like bancassurance emerging. This poses challenges for insurers to manage growing support costs while meeting demands of multichannel sales. The document advocates that insurers leverage analytics to gain insights from customer data and apply these insights to key business activities to enhance competitiveness and customer centricity. It also notes consumers now expect digital tools and personalized products/services from insurers.
Employing Analytics to Automate and Optimize Insurance DistributionCognizant
Today's insurers have the opportunity to employ advanced analytics to automate and optimize distribution, analyze and track customer patterns, enhance marketing campaigns, better manage agents and deliver more value to the business and its customers.
Accenture Distribution and Agency Management Survey: Reimagining insurance di...Accenture Insurance
The global Distribution & Agency Management Survey draws insights from 400+ insurance distribution executives about connected devices, data and analytics, agent compensation and more. The research covers topics such as the customer experience, channel optimization, the changing role of agents and the Internet of Things, among others and how digital is affecting insurance distribution and customer interactions.
Accenture North American Digital Banking Consumer Survey 2014 accenture
According to the new Accenture 2014 North America Consumer Digital Banking Survey, digital banking trends are changing traditional relationships between consumers and banks. In fact, the research suggests the relationship is increasingly uncertain as consumers are intrigued by branchless digital banks, define their relationships as merely transactional and generally want more advice and proactive financial services from their Everyday Banks. Read the PDF to learn more about the results of the survey, and how banks can respond to these threats.
Banks are facing disruption from new digital entrants and changing customer behaviors. A survey of 4,000 banking customers found that over a quarter would consider a branchless digital bank, and nearly half would bank with non-financial companies they do business with like Amazon or Apple. Younger customers especially want banking services that are seamlessly integrated across digital and in-person channels, and expect their bank to proactively recommend products and help manage their finances. To respond, banks need to become truly omnichannel, extend their ecosystem of services, and offer digital personalized financial advice to stay relevant and build loyalty among changing customer demands.
201407 Digital Disruption in Banking - Accenture Consumer Digital Banking Sur...Francisco Calzado
Banks are facing disruption from new digital entrants and changing customer behaviors. A survey of 4,000 banking customers found that over a quarter would consider a branchless digital bank, and nearly half would bank with non-financial companies they do business with like Amazon or Apple. Younger customers especially want banking services that are convenient and integrated across digital and traditional channels. To respond, banks need to become truly omnichannel, extend their ecosystem of services, and offer digital personalized financial advice to stay relevant and build loyalty as customer needs evolve.
Increasing Retention and Reducing Churn Through Innovative Renewal StrategiesEnroll America
While the enrollment community has already made significant progress in connecting the uninsured to coverage over the last two open enrollment periods, action must be taken to address a crucial element in helping consumers maintain coverage —annual renewal. Come learn directly from Michigan Primary Care Association staff that have been actively involved in developing and implementing innovative strategies, materials, and partnerships to increase health coverage retention rates.
The document discusses key learnings from three years of open enrollment under the Affordable Care Act. It finds that consumers are shopping more actively, with 40% switching plans for lower costs. While digital engagement is growing, health insurers still lack offerings that meet rising consumer expectations for easy, digital-first experiences. Insurers must leverage data better to personalize messaging and engage customers throughout the purchase funnel and beyond open enrollment periods. Adopting people-based marketing approaches focused on deep customer understanding at each touchpoint will help insurers adapt to an evolving marketplace.
Operationalizing Customer Centricity: A Prescription for Building Brand Loyal...Cognizant
1) Healthcare payers are not meeting customer expectations for personalized, high-quality service across multiple channels. Customers want seamless experiences similar to other industries like retail.
2) To improve customer satisfaction and build loyalty, payers must redesign processes to be member-centric and deliver consistent experiences across all touchpoints using data and technologies.
3) By operationalizing member centricity, payers can gain insights into customer needs, improve processes, increase retention and sales, and reduce costs - leading to competitive advantage.
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.
Caregiving Innovation Frontiers: A universal need, a growing opportunity — le...Longevity Network
Can 40 million caregivers count on you?
Where can I find reliable help with meals and medications? What does this bill mean, and will my insurance cover it? And how can I help Mom and Dad stay safe and healthy? As people live longer lives, questions like these touch us all. According to the 2015 report “Caregiving in the U.S.,” an AARP and National Alliance for Caregiving study, nearly 40 million Americans in 2014 were providing unpaid care to people who are older, disabled, or otherwise in need of assistance. A quarter were millennials and half were under the age of 50. Some call it “informal” care, but there’s nothing informal about the emotional, financial and day-to-day stress such a role can involve or the growing gap between the number of caregivers and the number of care recipients. By 2020, 117 million Americans are expected to need assistance of some kind, yet the overall number of caregivers is only expected to reach 45 million.
Data-driven analytical insights backed with personalized execution can substa...Sumit Acharya
Generating data-driven analytical insights backed with personalized execution using digitized channels could substantially enhance consumers experience for the brand, there-by result-in long-term loyalty win-backs and potential rewards
This document summarizes an edition of the Government and Public Sector Journal covering various topics including healthcare, asset management, grounds maintenance, waste recycling, telephony, consumer price index, and lighting. It provides brief summaries of articles on CS Healthcare and the benefits of mutual organizations, data security best practices from Becrypt, and how community transport can save up to £1.1 billion per year for public services. The document also lists additional articles and advertisers in the edition.
The document discusses how healthcare consumers are increasingly focused on their overall health and wellness and prefer simplified treatment and personal engagement. It states that 72% of customers consider affordability the primary deciding factor in choosing healthcare. Providers now need to cater to consumer needs for improving health and wellness. A study identified four ways to do this: increased access to information, changing behaviors to reduce costs, considering consumer preferences, and targeting products and services through consumer segmentation.
This document discusses the need for health insurers to adopt a more consumer-centric approach to improve the consumer experience, member retention, and risk adjustment. As consumers now bear more responsibility and costs for their healthcare, they expect the same high level of customer service that they receive from other consumer-focused industries. However, health insurers currently have some of the lowest customer satisfaction ratings due to issues like poor communication and service failures. The document argues that insurers have an opportunity to differentiate themselves by delivering personalized outreach, education, and tools to help consumers better understand and manage their health plans. An effective consumer engagement strategy could help insurers build trust and loyalty with customers.
Using Quality Tools and Concepts to Improve SalesThomas Kaster
This is a white paper that I submitted for the 2009 Decision Science Institute (DSI) in New Orleans which documents a large scale quality project I undertook. In the project quality tools and concepts were used to analyze two virtual call centers and look for opportunities for sales improvement.
Running head: REPORT 1
REPORT 5
Consumption Behavior; Electronics
Student’s Name
Institutional Affiliation
Topic description
Consumption behavior is the manner in which an audience responds to product marketing. Consumption behavior is also referred to as buying behavior, and it revolves around the buying intentions and attitudes of individuals. It is important for producers to understand the consumption behavior of existing and prospective customers; this way, they can make goods and services that align to customer tastes and preferences (Friedman, 2018). In addition to that, understanding consumption behavior helps producers to manufacture or process goods that match the aggregate demand of customers. It is not advisable for a business to engage in mass production without considering rough estimates for demand as such may lead to excess inventory that never manages to get off the shelves. This project will give invaluable insights with respect to the behavior of buyers towards electrical appliances.
Significance of the Project
The project is significant because it will answer a multiplicity of pertinent questions regarding market equilibrium of electronic appliances, the influence of Adam Smith's invisible hand in the electronics market, determinants of aggregate demand, and drivers of supply among others. As such, consumers, suppliers, producers, and investors will find the study insightful with respect to answering market questions they may have (Roos & Hahn, 2017). The significance of the research questions offered by the study is that it will make audiences more rational in the choices they make. First, after reading the study, buyers may decide to commit to buying high-quality products as opposed to those of less quality which require replacement every six months. What's more, a majority of the producers that read the study may be influenced to produce high-quality products that make their brand unique in the eyes of customers; with a promise of high quality and longevity of the products involved to customers. Third, the research may influence suppliers to be more committed to excellence.
Historical Data for Key Parameters
The steady sale of electronics in The US does seemed to have followed a clear pattern over time. The frequency with which consumers buy electronics seems quite high. Most producers are looking strike a balance between quality and price get the most customers. Where some are just trying to cash in with cheap and flashy items. The graph below depicts the time line for The US computer/software store sales from 1992 to 2015. Currently, the US Electronics Store Sales is in excess of $25 Billion USD annually.
Source: https://www.statista.com/statistics/197603/annual-computer-and-software-store-sales-in-the-us-since-1992/
The necessity of electronics to us becomes evident when you look at how many US homes have them. The percentage of US house hold owning home computers has incr.
Similar to The Digital Mandate for Health Plans (20)
Using Adaptive Scrum to Tame Process Reverse Engineering in Data Analytics Pr...Cognizant
Organizations rely on analytics to make intelligent decisions and improve business performance, which sometimes requires reproducing business processes from a legacy application to a digital-native state to reduce the functional, technical and operational debts. Adaptive Scrum can reduce the complexity of the reproduction process iteratively as well as provide transparency in data analytics porojects.
Data Modernization: Breaking the AI Vicious Cycle for Superior Decision-makingCognizant
The document discusses how most companies are not fully leveraging artificial intelligence (AI) and data for decision-making. It finds that only 20% of companies are "leaders" in using AI for decisions, while the remaining 80% are stuck in a "vicious cycle" of not understanding AI's potential, having low trust in AI, and limited adoption. Leaders use more sophisticated verification of AI decisions and a wider range of AI technologies beyond chatbots. The document provides recommendations for breaking the vicious cycle, including appointing AI champions, starting with specific high-impact decisions, and institutionalizing continuous learning about AI advances.
It Takes an Ecosystem: How Technology Companies Deliver Exceptional ExperiencesCognizant
Experience is becoming a key strategy for technology companies as they shift to cloud-based subscription models. This requires building an "experience ecosystem" that breaks down silos and involves partners. Building such an ecosystem involves adopting a cross-functional approach to experience, making experience data-driven to generate insights, and creating platforms to enable connected selling between companies and partners.
Intuition is not a mystery but rather a mechanistic process based on accumulated experience. Leading businesses are engineering intuition into their organizations by harnessing machine learning software, massive cloud processing power, huge amounts of data, and design thinking in experiences. This allows them to anticipate and act with speed and insight, improving decision making through data-driven insights and acting as if on intuition.
The Work Ahead: Transportation and Logistics Delivering on the Digital-Physic...Cognizant
The T&L industry appears poised to accelerate its long-overdue modernization drive, as the pandemic spurs an increased need for agility and resilience, according to our study.
Enhancing Desirability: Five Considerations for Winning Digital InitiativesCognizant
To be a modern digital business in the post-COVID era, organizations must be fanatical about the experiences they deliver to an increasingly savvy and expectant user community. Getting there requires a mastery of human-design thinking, compelling user interface and interaction design, and a focus on functional and nonfunctional capabilities that drive business differentiation and results.
The Work Ahead in Manufacturing: Fulfilling the Agility MandateCognizant
Manufacturers are ahead of other industries in IoT deployments but lag in investments in analytics and AI needed to maximize IoT's benefits. While many have IoT pilots, few have implemented machine learning at scale to analyze sensor data and optimize processes. To fully digitize manufacturing, investments in automation, analytics, and AI must increase from the current 5.5% of revenue to over 11% to integrate IT, OT, and PT across the value chain.
The Work Ahead in Higher Education: Repaving the Road for the Employees of To...Cognizant
Higher-ed institutions expect pandemic-driven disruption to continue, especially as hyperconnectivity, analytics and AI drive personalized education models over the lifetime of the learner, according to our recent research.
Engineering the Next-Gen Digital Claims Organisation for Australian General I...Cognizant
The document discusses potential future states for the claims organization of Australian general insurers. It notes that gradual changes like increasing climate volatility, new technologies, and changing customer demographics will reshape the insurance industry and claims processes. Five potential end states for claims organizations are described: 1) traditional claims will demand faster processing; 2) a larger percentage of claims will come from new digital risks; 3) claims processes may become "Uberized" through partnerships; 4) claims organizations will face challenges in risk management propositions; 5) humans and machines will work together to adjudicate claims using large data and computing power. The document argues that insurers must transform claims through digital technologies to concurrently improve customer experience, operational effectiveness, and efficiencies
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Amid constant change, industry leaders need an upgraded IT infrastructure capable of adapting to audience expectations while proactively anticipating ever-evolving business requirements.
Green Rush: The Economic Imperative for SustainabilityCognizant
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The Digital Mandate for Health Plans
1. The Digital Mandate
for Health Plans
Consumers want digital tools and mobile-first options
to manage their plan, and they exhibit varying levels of
satisfaction with existing capabilities. Our exclusive study
reveals 10 key findings that will help health plans set
the course for their digital member experience strategies
in 2016 and beyond.
2. 2 KEEP CHALLENGING February 2016
Executive Summary
Health plan buying power is steadily shifting toward individual consumers.
Plan providers increasingly recognize the need to retool processes and
offerings to attract, onboard, retain and engage customers in their direct-
to-consumer individual lines of business. (For more on this trend, read “The
Rise of the Empowered Consumer.”)This holds true in the group market
as well, where private exchanges (both single- and multi-carrier) and the
expansion of defined contribution strategies require members within the
small and large group lines of business to be increasingly treated like
individual consumers.
As this trend evolves, the key payer challenge will be to identify which
services consumers want delivered digitally, as well as when and how
to deliver them while balancing competing priorities for technology
investments.
3. THE DIGITAL MANDATE FOR HEALTH PLANS 3
To help answer these critical questions, our Healthcare Business
Consulting Practice recently surveyed a cross-section of current health
plan members about which healthcare administrative and business
capabilities they would like to access via digital channels (mobile, Web,
social). The survey focused on uncovering the features, functionality
and delivery methods that are important to members when shopping for
commercial health insurance products — as well as after they purchase
coverage and need to manage their interactions with their health plan.
We interviewed 1,600 respondents aged 18 to 65 across 47 states in the
U.S. (see Appendix, page 15). About 86% were from employer-sponsored
group plans; the rest were members of individual plans. Four national
plans, 10 Blue plans and 154 regional plans were represented in the
findings. (Medicare and Medicaid plan members were excluded for the
purposes of this study.)
The survey reveals which digital channels are preferred by consumers
and members, as well as their general satisfaction levels with each. The
results indicate the types of information, functionality and decision-
support that consumers and members want to access via digital channels
provided by their health insurer. The findings suggest which digital
channels are generally less effective, as well as the digital services and
features that payers need to improve. Furthermore, they substantiate the
notion that the digital capability needs of members covered by employer-
group sponsored plans are increasingly aligned with those who purchase
individual insurance via direct–to-consumer channels.
The top 10 key survey findings summarized in the pages that follow should
help guide healthcare payers as they set the course for their digital
consumer and member experience investment priorities for 2016 and
beyond.
Our findings substantiate the notion that
the digital capability needs of members
covered by employer-group sponsored
plans are increasingly aligned with those
who purchase individual insurance via
direct–to-consumer channels.
4. 4 KEEP CHALLENGING February 2016
Voice of the Digital Member Survey: Key Findings
KEY FINDING 1:
Members Prefer to Interact Digitally with Insurers
With 84% of respondents signaling this preference, the survey reveals, incontro-
vertibly, that plan members prefer to interact digitally with their healthcare payer.
Health plan members routinely rely on digital channel offerings across industries
(banking, retail, consumer goods, travel, etc.), and health insurance is no different.
However, healthcare payers are lagging in the availability and adoption of mobile
offerings (see Figure 1).
Further, the quality, maturity and effectiveness of digital customer service capa-
bilities are clearly important influencers on members as they shop for plans and
interact with payers:
• Nearly 70% of respondents feel strongly that health plans should request and
track a member’s preferred communication channels (mail, text, phone, chat) —
and then use those channels accordingly.
• Approximately 40% of respondents report less than total satisfaction with
health plans’ website, mobile and digital self-service features, indicating room
for improvement with those health plan aspects.
• Similarly, approximately one-third of respondents were somewhat or not at
all satisfied with their plans’ communications, claims handling operations and
customer support. Throughout the survey, respondents noted the importance of
digital features that are complementary to these areas, such as apps for digitally
submitting claims and estimating costs for procedures.
Figure 1
E-mail
Company website
Bank
Credit Card Company
Airline
Retailer
Online Retailer
Auto Insurer
Health Insurer
AVAILABILITY OF DIGITAL CHANNELS ADOPTION OF DIGITAL CHANNELS
23%
23%
21%
33%
57%
17%
17%
9%
61%
17%
12%
10%
64%
16%
11%
9%
63%
17%
11%
10%
58%
19%
11%
12%
57%
27%
6%
9%
67%
21%
4%
9%
23%
19%
22%
34%
26%
19%
20%
35%
26%
19%
20%
35%
27%
20%
20%
33%
26%
14%
27%
34%
24%
12%
26%
38%
Mobile
Other channels
!
Health Plans Play Catchup in Self-Service Digital Channels
Cross-industry digital experiences are shaping consumer expectations for digital interactions
with health plans.
5. THE DIGITAL MANDATE FOR HEALTH PLANS 5
Our Perspective
Members who are less than satisfied with digital features and related services
(40%) could prove difficult to retain. This finding sends a clear signal that payers
still have room to improve service and operations. Further, payers need to develop
capabilities to capture members’ digital communication preferences by hierarchy
(group preferences, member preferences and subscriber preferences), taking into
account personal health information (PHI) regulations. Many plans not only fail to
gather preferences but also do not even request a member’s e-mail address during
registration; respondents indicated their lack of appreciation for such paucity in
digital capabilities. Hence, payers must recognize and respond when benchmarks
for great service are being set and raised by digitally-adept service providers
outside of the healthcare industry — from Amazon to Uber.
KEY FINDING 2:
Members Expect Advanced Digital Shopping Capabilities
Respondents indicated the following digital capabilities were important to them
when shopping for health plans:
• Ability to shop via online channels vs. interacting with agents, brokers or
navigators (80%).
• Guided selling tools that help them sort and narrow various plan options and
make appropriate choices (40%).
• Online tools to compare and evaluate providers on various quality ratings and
reviews (58%).
• Utilization-based recommendations for an appropriate plan, i.e., being offered
plans based on their past usage, family life stage, existing health conditions, etc.
(40%).
• Transparency in plan premiums, co-pays, co-insurance and out-of-pocket cost
estimations (67%).
Our Perspective
Payers must prioritize their ability to deliver an engaging digital shopping experience
because a website visit may be a prospective member’s initial interaction with the
plan. Imagining this process from the member perspective is a critical step toward
designing workflows and tools that meet expectations while also streamlining
behind-the-scenes processes (see Figure 2, next page).
In general, payers limit their shopping experience capability development to
commercial plans purchased by individuals. But as the survey indicates, group
members are also interested in a shopping experience similar to that of individual
members. Payers need to either invest in or communicate the availability of such
capabilities for their group members. Investments in shopping capabilities for
group members can be made by establishing a carrier-owned private exchange or
through broker channels.
Payers need to develop capabilities to capture
members’ digital communication preferences, taking
into account personal health information (PHI)
regulations.
6. 6 KEEP CHALLENGING February 2016
KEY FINDING 3:
Members Want Robust Digital Capabilities to Manage
Payer Relationships
Plan members want digital tools, features and information to help them manage
their plan. From a payer perspective, these features are focused on engaging and
retaining members throughout their journey with rich, satisfying experiences.
More than half of all plan members want digital tools and capabilities, including the
following:
• Digital submission of claims (63%) and the ability to support real-time digital
inquiries about claim status (71%).
• The ability to print out ID cards and/or request them online (61%).
• Delivery of statements and policy documents via digital channels (70%).
• The ability to pay provider bills and health insurance premiums via digital channels.
(Among younger respondents, 18- to 25-year-olds, 69% say this is important or
very important.)
• The ability to pay via digital channels, including mobile (51%). This finding
suggests members could be open to using options such as Apple Pay, Google
Wallet and other electronic wallet features.
ENGAGE ENROLL
MANAGE
BENEFITS
VISIT
PROVIDER
CHECK
STATUS
CUSTOMER
SERVICE
GET
REWARDED
User-friendly decision
support tools
providing simple,
personalized options
Easy ways to
understand the plan
and simplify choices
Provider look-up
tools and directories
Quality ratings
and provider
comparison
systems
Customizable engagement
reminders and services
to manage prescriptions
Personalized
and engaging
“edutainment” tools
Robust enrollment
portal
Transparent
and easy to
understand
benefits and
coverage
Needs and
preferences
anticipated
based on past
experience
Engagement
programs and
rewards
Service represen-
tatives with
specialized
training tailored
to member needs
24-hour service,
accessible through
multiple channels
including digital
Consumer Experience with Digital Healthcare
Figure 2
7. THE DIGITAL MANDATE FOR HEALTH PLANS 7
Members also look favorably on payers offering health and wellness tools via digital
channels:
• Approximately 60% like the idea of payers providing incentives for healthy
behavior that could be tracked, monitored and reported on digital channels, and
choosing their own rewards, such as gift vouchers and monetary benefits.
• More than half want their insurer to provide an online or mobile personal health
record (PHR), a possible reflection of the fact that most online PHRs have not met
consumers’ needs. However, respondents said they still like the idea of having
their medical information readily available to them via the Web or mobile channel.
Our Perspective
Members have a strong appetite for
digital features that enable them
to carry out transactions or access
information anytime, anywhere.
Satisfying this need will help payers
reduce costs; for example, print
costs can be reduced by enabling
members to print an ID card at
home, or ROI could be boosted on
process improvement initiatives by
supplying an electronic mobile ID.
Similarly, tying payment options to electronic payments that members already use
could improve billing and renewal rates.
We observe many payers using paper-based approaches to conduct the majority of
their member communications, without an established strategy or governance plan.
With members’ increasing preference for digital channels, payers need to deploy
a holistic digital communication strategy. This strategy should address channel
strategy, governance and operating models, communication process, foundational
technology and an adoption plan to steer members to digital channels.
KEY FINDING 4:
Members Want Mobility First
Respondents said they prefer to receive their digital shopping and engagement
features via their mobile devices (see Figure 3, next page). Overall satisfac-
tion (75%) is greater for shopping features delivered via mobile. Similarly, while
respondents show a high Web adoption rate for features such as researching peer
experiences, finding a pharmacy and filling a prescription, they are more satisfied
with these services when accessing them via mobile devices.
Apparently, many digital services that are highly important to members are not
widely available via mobile. The capabilities that top respondents’ mobile wish lists
include:
• Looking up benefits/confirming coverage. (78% rated this as an “important”
mobile service; 46% reported having this feature available via mobile.)
• Checking claim status (71% rated as important; 39% had it available).
• Researching healthcare providers (70% rated as important; 17% had it available).
• Viewing statement/explanation of benefits (70% rated as important; 42% had it
available).
• Determining estimated cost per procedure (67% rated as important; 24% had it
available).
With members’ increasing
preference for digital
channels, payers need to
deploy a holistic digital
communication strategy.
8. 8 KEEP CHALLENGING February 2016
Our Perspective
This “mobile first” finding varies significantly from how payers have so far
approached the development of digital capabilities. Most payers today offer
Web-based self-service capabilities first and then extend a limited set of those capa-
bilities to mobile. Our findings suggest that members want the opposite approach.
Payers, therefore, need to consider developing a mobile-first design that offers a
consistent set of capabilities and experiences across Web and mobile channels, and
works seamlessly on all devices — tablets, phones, laptops and PCs.
~30%
of respondents are aware of mobile
capabilities for shopping,care delivery
and payment for health insurance
72%
are satisfied using digital
healthcare capabilities over mobile
Adoption rates are higher
for mobile compared with the Web
for capabilities like: nurse interac-
tion,ID card generation,
and provider bill payment
Satisfaction rates are higher for
mobile compared with the Web for capabilities like:
appointment scheduling,prescription
refills,data transmission through
wearable,nurse interaction,and ID
card generation
55%
expect health insurers
to provide online or mobile
personal health records
64%
want mobile access
to online documents like
explanation of benefits,
policy,claims,etc.
Mobile: Consumers’ Preferred Channel
While respondents show a high Web adoption rate for
certain features, they are more satisfied with these services
when accessing them via mobile devices.
Figure 3
9. THE DIGITAL MANDATE FOR HEALTH PLANS 9
KEY FINDING 5:
Payers Must Promote Digital Features Aggressively and
Make them Worthwhile
Respondents were generally more aware of the availability of Web-based digital
features but noted the same features were less available via mobile channels.
Adoption rates are low for the digital services currently offered by health insurers,
even for those that respondents rated as very important. At the same time, sat-
isfaction rates were generally high among respondents who used these services.
For example, 78% of respondents said “looking up benefits/confirming coverage”
via a digital channel was important. Roughly 46% of respondents said their plans
offered a mobile version of this feature; approximately 80% said the service was
available via the Web. In each case, just about half of the members who were aware
of the feature had used it. On the positive side, more than three-quarters of those
who used the feature reported a satisfying experience.
Our Perspective
Members want a relatively small set of digital capabilities when shopping or
engaging in plan management, and they want these features to be easy to use and
work well, whether they use them via the Web or a smart device. The challenge is
that many members may access services such as “confirm coverage” only a few
times a year; contrast this with checking a banking
or retail app, which could happen daily. To counter
less frequent use, health insurers must continu-
ally promote and drive members to their digital
channels.
Success requires promotion of the right digital
tools and making them easy to use and find,
whether on a website or via an app. It also requires
helping members to clearly understand the cost
benefit of using them. Incentives for using digital
channels can include reducing co-pays and/or premiums on plans that deliver all
policy documents and transaction data in electronic form. Adoption efforts and
incentives will not be “one and done” efforts but rather sustained campaigns to
promote digital capabilities and their benefits.
KEY FINDING 6:
Digital: It’s Not Just for Millennials
Our findings refute the idea that only younger users care about and use digital
features and channels. Adoption rates are similar across all age groups when
payers offer digital features that members want, our analysis revealed. This is even
true for mobile, which is often considered a millennial-oriented device. To cite one
example, among respondents whose insurers offered a mobile app for locating a
pharmacy or refilling a prescription, the adoption rate was approximately 25%
across all age groups. Further, more than 80% of all the members in each age
group said they were satisfied with the experience.
To counter less frequent use,
health insurers must continually
promote and drive members to
their digital channels.
10. 10 KEEP CHALLENGING February 2016
Members of different ages clearly have different priorities for the digital features
they want (see Figure 4). This may have to do with life stages. Younger members
may choose lower cost, higher deductible plans, so knowing claims status and
estimating costs are more important to them than, say, an older member receiving
employer group family coverage.
Our Perspective
Payers need to approach digital services
with all ages in mind. Practical issues to
address include avoiding age bias and
conducting user experience testing
across multiple age groups, offering a
sufficiently broad range of services, and
adjusting adoption campaign messages
to promote the key features each age
group wants most.
Although our study only looked at
commercial members, these results are indicative of digital investments required
in Medicare, as well.
Importance of Web or Mobile Features by Age Group
Younger respondents place slightly more value on finance-related features, such as
checking claim status, determining estimated costs and paying provider and premium bills.
Rank
(High
to low)
18-25
years old
26-35
years old
36-49
years old
50-65
years old
1 Looking up benefits/confirming coverage
2 Researching healthcare providers
3 Checking on claim status Comparing key features of products
4 Determining estimated costs for procedures Checking on claim status
5 Locating a pharmacy or
refilling a prescription
Requesting/accessing
claim forms
Determining estimated costs for procedures
6 Viewing an online statement (e.g., EOBs) Requesting/accessing claim forms
7 Paying bills for
insurance premiums
Requesting or printing
an ID card
Locating a pharmacy or refilling a prescription
8 Submitting claims Paying bills for
insurance premiums
Viewing an online statement (e.g., EOBs)
9 Paying healthcare
provider (e.g., doctor)
bills
Submitting claims Requesting or printing an ID card
10 Paying health insurance
premium or initial
binder payment
Paying healthcare
provider bills Submitting claims
11 Searching for providers contracted for the plan
12 Computing out-of-pocket expenses
Figure 4
Adoption rates are similar across all
age groups when payers offer digital
features that members want, our
analysis revealed. This is even true for
mobile, which is often considered a
millennial-oriented device.
11. THE DIGITAL MANDATE FOR HEALTH PLANS 11
KEY FINDING 7:
Members of Both Group and Individual Plans Share Key
Expectations
Payers drawn to the private exchange market should take note that 76% of
employer group plan members want the same digital shopping features delivered
via online and mobile channels as individual plan members. Individual and group/
employer-sponsored plan members alike also show a clear preference for digital
channels, with about 60% in each group using
digital channels to purchase plans.
Individual plan members’ preference for mobile
services is 50% higher than that of employer/
group plan members. Individual members say
they are twice as likely to switch plans when a
new plan offers better communication, Web or
mobile platforms, or self-service options.
Our Perspective
We expect group plan members buying from
private exchanges to adopt behaviors similar to
those of individual plan members. As more payers
offer (or participate in) private exchanges, and
group plan members must make their own buying decisions, they will increasingly
need the same tools that individual plan members use — and may grow increasingly
sensitive to how well a payer meets their digital demands. As noted above, payers
can invest in building a private exchange or delivering these capabilities through
broker channels
KEY FINDING 8:
Digital Expectations Differ Among National Blue and
Regional Plan Members
National plan members have higher Web and mobile adoption rates, at approximately
65% compared with regional and Blue plan members (54% to 55%). National plan
members also give higher importance ratings to shopping and member experience
capabilities than do Blue members.
In general, Blue plan members seem to consider digital channels and features less
important than other plan members do. Yet along with national plan members, Blue
members have better availability and adoption of features such as provider search,
finding pharmacy/filling prescription, claims status checking and viewing online
statements.
Regional members have the least available mobile shopping capabilities, but those
who have used such services express high satisfaction with them.
As more group plan members make
their own buying decisions, they will
increasingly need the same tools
that individual plan members use —
and may grow increasingly sensitive
to how well a payer meets their
digital demands.
To leverage economies of scale, Blue plans should collaborate
among themselves to build shared digital capabilities.
12. 12 KEEP CHALLENGING February 2016
Our Perspective
National plans have wider sets of digital capabilities and greater adoption rates
because of economies of scale, as well as incentives for national accounts (e.g.,
large employers) to adopt digital channels. To leverage economies of scale, Blue
plans should collaborate among themselves to build shared digital capabilities.
Regional plans may find it capital-intensive to invest significantly in digital capa-
bilities. Such players can explore options to create innovative, as-a-service-based
commercial contracts with digital vendors.
KEY FINDING 9:
Members Are Not So Social
Only 3% of respondents selected social as their preferred channel of communica-
tions. While 17% visit their payers’ social media page, only 16% agreed that social
media influences their plan buying decisions.
This finding is markedly different from preferences observed in other consumer-
facing industries (e.g., banking and retail). Although the same individual is likely
to be a health plan member and retail consumer, the survey indicates that plan
members’ needs for social media capabilities are extremely low compared with their
expectations of other service providers.
Our Perspective
Multiple factors may cause plan members to be uninterested in using health plans’
social channels. These include privacy concerns, the availability of effective health
plan dispute resolution mechanisms, a
plan’s less mature social capabilities
and the fact that health claims are
often paid or settled long after services
are rendered.
Delivering prevention, wellness and
patient education information is the
most promising use of social for payers.
In addition, it is likely that members
will provide feedback on plans in social
media. With the right social listening
tools and analytics, payers can gain
insight into how their members react to new services, capabilities, etc. The bottom
line is that social is a relatively inexpensive channel that offers some opportunity to
payers. That said, investing in social need not be the top digital priority for health
plans.
KEY FINDING 10:
Members Worry about Privacy, Trust and Security
While70%ofallrespondentssaidonlinedataprivacyandsecurityareveryimportant,
just under 60% agreed they could trust their health insurer to protect the data they
supply online. A sizable 40% said they did not agree with that statement.
The bottom line is that social is a
relatively inexpensive channel that
offers some opportunity to payers. That
said, investing in social need not be the
top digital priority for health plans.
13. THE DIGITAL MANDATE FOR HEALTH PLANS 13
Our Perspective
Cyber security and privacy protection are as important for payers as they are for
any other service provider. These issues are not unique to digital initiatives; sound
data security and HIPAA-compliant policies should be in place in any healthcare
organization. Security measures must be addressed along with regulations while
developing more engaging member tools.
Regulation is a key area that health plans need to address when developing new
digital capabilities. Some regulatory requirements are unique to health plans (e.g.,
PHI) and need to be assessed thoroughly before embarking on building digital capa-
bilities.
Looking Forward:
Setting Digital Transformation Priorities
Members clearly want specific digital shopping and plan management capabili-
ties delivered via digital channels, preferably mobile. By first understanding what
members want and will adopt, payers can set their priorities among competing
digital initiatives. Our Digital Transformation Framework (see Figure 5) can then be
applied to help payers define the digital experience of the future and prioritize the
investments that will deliver it.
Reimagine the Customer Experience
Select a Platform
Identify target digital capabilities
that are critical to a health plan’s
success in the digital ecosystem
of the future.
Define the experience of the future by reimagining
experiences for all constituents (consumers, members,
providers, brokers and group administrators).
Validate identified capabilities against
industry trends and capabilities of local
market competitors.
Categorize capabilities using a market
perception scale, such as on-par, market-leading
and best-in-class, to determine priority
of digital investments.
Identify best-of-breed
products that can deliver
required capabilities.
A Framework for Digital Transformation
Our Digital Transformation Framework helps organizations align their vision of the future with market forces,
such as availability of target capabilities, to create a realistic strategy for achieving the desired future state.
Figure 5
14. 14 KEEP CHALLENGING February 2016
Appendix: Health Plan Survey Demographics
Another development for payers to monitor is
the emergence of healthcare platforms that
enable faster, cost-effective delivery of the
features and channels members want. These
best-of-breed partner ecosystems combine
vetted digital “point solutions” and platform-
native apps into a common digital consumer
engagement layer. Payers can quickly launch
so-called tablestakes features and functions,
while the platform engagement layer ensures
a consistent experience across all stakehold-
er touchpoints. Such platforms should also
support foundational digital capabilities, such
as powerful predictive analytics and intelli-
gent process automation.
Health consumers know which digital services
they want from payers. For payers, our survey results are a call to transformation
by investing in digital customer engagement that also creates efficient, cost-effec-
tive processes, such as reducing physical document production and delivery costs.
Further, payers must make their members aware of the new capabilities they deliver
and encourage greater adoption. Rising to this challenge is critical: Our findings
also suggest consumers will steadily channel their health dollars to plans — or
new industry entrants — that deliver high-quality digital tools and services. Plan
members essentially have pointed to the goals; now payers must set their course
to achieve them.
For payers, our survey results
are a call to transformation by
investing in digital customer
engagement that also creates
efficient, cost-effective
processes, such as reducing
physical document production
and delivery costs.
1,600 respondents across
47 states
Coverage across 4 national plans,
10 Blues and 154 regional plans
34%
36%
40%
32%
28%
27%
AGES
50-65
AGES
36-4926%
28%
26%
AGES
26-35
1,375 enrollees from employer
group plans and 225 in individual plans
National
(743)
Blues
(455)
Regional
(402)
8%
8%
7%
AGES
18-25
15. THE DIGITAL MANDATE FOR HEALTH PLANS 15
About the Authors
William “Bill” Shea is a Vice-President within Cognizant Business Consulting’s Healthcare Practice.
He has over 20 years of experience in management consulting, practice development and project
management in the health industry across the payer, purchaser and provider markets. Bill has signif-
icant experience in health plan strategy and operations in the areas of medical management, claims
management, provider and network management and product development. He can be reached at
William.Shea@cognizant.com.
Jagan Ramachandran is a Director within Cognizant Business Consulting’s Healthcare Practice. He
has over 17 years of experience in management consulting, technology strategy, practice develop-
ment and project management across industries. Jagan focuses on health plan transformation in
the areas of consumerism, digital transformation, public exchanges, private exchanges and core
administration modernization across nationals, “Blues” and regional plans. He can be reached at
Jagannathan.Ramachandran@cognizant.com.