Reduce healthcare administration costs while maintaining the same high quality of dispensed healthcare.
There are many ways insurers can cut down on fringe costs. For example, automation of numerous health insurance processes and activities can not only save time and limit resource consumption, but is likely to improve efficiency in application processing and management processes. Similarly adoption of a paperless culture and capitalizing on the internet to share and distribute plan proposals, facilitating online financial payments, online certificates and approvals etc., can not only speed up the insurance processing but can also help insurers save on unnecessary costs.
Healthcare IT companies offer a lot of healthcare insurance applications suite to insurers – applications that can automate various administrative and insurance processing related functions such as automated employee compensation, automated claims processing, distribution of plan proposals, underwriting etc. Insurers that are already partnering with healthcare software companies and using some of these automated processes have managed to contain some of their healthcare expenses.
A smart organization is one that adapts itself to changing market demands and evolving consumer trends. With Internet redefining and restructuring the way people interact and purchase products, for insurers the need of the hour is to quickly adapt to these changing market expectations. Partnering with an efficient healthcare IT company has been helping insurers build a strong presence on the internet and effortlessly switch to online portals for adding, updating or deleting health or finance related data.
Some leading healthcare IT companies promise a seamless system integration phase where businesses can shift their work from one network to another without affecting or impacting the business continuity for their clients. With 24/7 application monitoring and robust systems in place, healthcare software companies are facilitating secure online transfer of data between insurance consumers and health payers. To ensure no loss in data integrity while transferring data through online media, healthcare software companies are following and implementing latest online security standards and protocols such as HIPAA etc.
2014 is going to be a significant year for the US healthcare landscape. The ACA proposed health insurance exchanges are expected to launch and health plans and carriers would feel the need to establish secure channels between the health plans and state exchanges to allow transfer of data between the plans and exchanges. Healthcare IT companies would be in demand more than ever before if the ACA together with its Individual Mandate clause is declared constitutional by the US Supreme Court that is presently mulling over the case.
Insurers stand to benefit greatly if they swiftly adopt online media for selling insurance to their clients as the trend is catching up fast among all insurance companies. To stay ahead of the market competition curve, insurers need to have an efficient IT infrastructure in place.
Are Private Exchanges Altering the Future of Health Insurance?
The October 1 deadline has gone by and the health exchange market is still in a state of turmoil. Not everything has gone as planned and the government has been facing several troubles since the launch day.
3 Primary Groups Obamacare will Benefit
A lot has been going on in the world of health reform. In simple words, the way Americans shop for health insurance, through employer portal or broker portal, is about to change.
Why is Investor Confidence in Private Health Insurance Exchanges Growing?
The last few years have seen a lot of changes in the US health reform domain, particularly with the rise of public and private health insurance exchanges. The triggering point for all these changes was the passing of PPACA, or Patient Protection and Affordable Care Act.
