The new Exchange markets, both Private Exchanges and Private Exchanges, continue to reign at the top of the list of the most controversial and yet fascinating aspects of the health care reform.
While the uncertainty on whether or not States will set up exchanges has dissolved, the next challenge most states and the federal government currently face is establishing the technology infrastructure to support and secure the “virtual marketplaces”. Healthcare IT companies are here to help!
All eyes are pinned on the health insurance exchange implementation plans of the States and private insurers. For States that have refused to set up exchanges, federal government will step in to complete the assignment. As the exchanges would be online portals, the internet and information technology systems would play a crucial role in making consumers aware and informed of the available options, determining eligibility for different plans and purchasing plans online.
Healthcare IT companies are designing a multitude of solutions that can help insurers and States build their online exchange portals and help consumers’ access latest information, health plans and wellness services over the internet. The health insurance exchanges or federally facilitated exchanges may need to be aligned and connected with Health Information Exchanges (HIEs) to allow a smooth interchange of healthcare and insurance related data among various health insurance industry entities such as insurers, state and federal agencies, providers, hospital and pharmacy networks, etc. Healthcare IT companies with their software solutions can help simplify this complex integration process among various health insurance participants.
Public exchanges would serve as virtual health insurance marketplaces. State-based insurers that hope to market their products through the exchanges would need the assistance of healthcare IT companies in setting up secure communication channels between insurers’ local IT networks and external exchange systems. Healthcare IT companies are designing smart and intuitive software packages that can help insurers seamlessly interchange data with exchanges and other state or federal agencies.
The January 1, 2014, exchange implementation deadline is creeping closer for both the States and the federal government that intends to set up federal exchanges in States that refused to abide by the exchange mandate. With time of essence, States can benefit from partnering with healthcare IT companies that possess ready-to-deploy health insurance exchange software packages.
Insurers that plan to sell their products through the exchanges can also benefit from the exchange integration software package that healthcare IT companies, such as Reston-based hCentive, Inc. have designed. Exchange integration or exchange connectivity software can help insurers easily connect with multiple exchanges in different states through a single application.
Almost every day, healthcare IT companies are coming up with new and advanced software and applications for the healthcare industry to help establish a secure and robust virtual network to enable smooth interchange of data among different healthcare payers.
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.
