In today’s digital era, data is ubiquitous and gathering it no longer represents a challenge. The real challenges lie in doing so compliantly and in making sense of it in a smart, actionable way.
Insurers are facing data fragmentation, caused by a combination of increasingly mobile patients, multiple Electronic Medical Records (‘EMRs’) and healthcare providers and the growth of IoT technologies. To harness competitiveness, insurers need to ensure a collaborative approach across their ecosystem, which comprises the aforementioned players as well as brokers and other partners.
Digital health platforms address this specific need. They enable digital components to be accessed and shared through interconnected portals, each associated with the most relevant touchpoints throughout the end-to-end healthcare customer lifecycle.
So: how does a digital health platform help insurers overcome data fragmentation and maximise collaboration?
An understanding of the health customer journey
Digital health platforms provide unprecedented visibility of, and to, each and every customer. Policyholders can complete any health insurance-related activity from beginning to end: they can source quotes, sign contracts and select the health provider that will deliver the service. And so much more.
Throughout the customer journey, these actions will be interconnected with each partner’s management tools, linking personalized portals to core system and existing IT systems as well as allowing for the integration of further services.
Healthcare providers
Healthcare providers can easily manage all the administrative work associated with their patients. A lot of the the paperwork and operations can be automated and integrated with the insurer’s systems, freeing up time to focus on what they do best: provide the best possible treatments.
With telehealth or e-health services, healthcare providers can deliver treatment remotely via apps and other monitoring devices. For instance, diabetic patients can perform routine sugar level tests and automatically send the results to their healthcare centre. Such tools and self-monitoring devices encourage greater engagement, and help providers be more proactive with their assessments.
Furthermore, real-time patient health data collection can result in early diagnoses. Doctors can be alerted when negative changes occur and promote a preventive approach. There are significant health and financial rewards on offer for all partners willing to seize them.
Corporate Clients
Organizations also benefit from digitally-connected services by easily accessing reports on policyholders and monitoring their plan usage to optimize savings. Traditionally, companies would sign up for insurance plans their staff might not understand or of which take advantage. With a digital health platform, checking entitlements and securing reimbursements becomes straightforward. When staff are happier with the insurer’s service, two distinct but key long-term partnerships are strengthened: employer-insurer and employer-employee.
Policyholders
The benefits for the insured population are multiple. One of the key aspects is to improve the overall customer experience through personalized services. For instance, geolocalization can inform the insurer of the most appropriate plan or of the closest suitable healthcare provider to address the patient’s needs.
Furthermore, recurring activities such as receiving individual quotes, processing claims, and tracking prescriptions become easier to complete thanks to information being shared across providers.
Mobility is also key in optimising the customer experience. Today, customers use mobile apps to shop, manage their banking activity, monitor their wellness and much more. Being able to connect their wellness apps and self-assessments devices can help them reach their current health goals and significantly reduce the likelihood of future diseases.
Patients with easy access to health information, advice and support evolve from passive care recipients into partners actively engaging with their provider, benefitting from a relationship they traditionally only called upon when something needed fixing.
Insurers
Insurers will benefit from overcoming data fragmentation with healthcare providers, brokers and the insured population. They can manage their provider network more efficiently, with full visibility over their partners’ operations. Data also allows them to anticipate insureds’ needs and offer more customized plans and solutions.
Insurers can interact with their customers at each touchpoint of their health lifecycle, from quotations to policy and claims management. As the data from these interactions routinely informs their decision-making, they can develop and market improved, innovative services.
Insurers can also coach their policyholders to shift their focus from their health burdens to seeking opportunities to improve it. Tomorrow’s most successful insurers won’t be those who today are deploying yesterday’s approaches: they will have embraced and leveraged digital tools and processes. Through collaboration with their ecosystem partners, they can move towards becoming a care partner and not a simple payer.
Key takeaways
●Data fragmentation caused by the adoption of IoT technologies brings new challenges and opportunities to the healthcare industry.
●Digital platforms can enable insurers to improve collaboration across their ecosystem, benefitting care providers, brokers, corporate clients and policyholders.
●Digital health platforms enable components to be accessed and shared through interconnected portals, delivering multiple benefits across the partner ecosystem.- Insurers can enhance competitiveness by leveraging digital and ecosystem collaboration to improve and innovate their services based on their insureds’ needs and journeys.
If you are interested in this topic, the Cegedim Insurance Solutions team is at your disposal to answer to all your questions.