The Case for a Digital Strategy For Payers
By Elevar

Recent shifts in the healthcare industry including growth of consumer driven health plans, increased patient financial responsibility and healthcare reform have placed consumers at center stage. Consumers today have a growing number of robust mobile tools available to them for other industries and they are now starting to demand the same streamlined digital experience from their health payers in the form of convenient services, payment tools, and mobile access to their healthcare information. However, many payers have not adequately addressed and capitalized on this demand. With the increasing cost pressures faced by payers as well as the shift from a business-to-business (B2B) to a business-to-consumer (B2C) model, now is the time for payers to take part in the digital, consumer-centric revolution. Leading payers will benefit from actively pursuing a comprehensive digital strategy while others will get left behind. To access the full report, click Elevar Report – The Case for an External Digital Strategy For Payers.

REPORT PREVIEW: As consumers flock to payers that create a more consumer-centric experience, the payers that invest early and heavily in external digital assets will be the ones that reap the most rewards in the form of cost savings and customer loyalty:

  • Member loyalty will become increasingly dependent on a payer’s ability to engage members and provide services that allow them to create an increasingly digital relationship with the payer. These digital touchpoints will lead to cost savings and the large amount of captured data will position a payer to better retain members with a higher, more personalized degree of service.
  • The airline industry provides a successful case study about the benefits of developing an external digital consumer-centric strategy. This has enabled the airlines to interact with their customers in a more engaging and cost-effective way.
  • If the trend towards digital continues, a payer’s mobile application will become the most common touchpoint the payer shares with its members. As such, payers can no longer operate business as usual but should focus on developing specific capabilities that are correlated with the greatest impact on user satisfaction.

Increased proliferation of smart devices and other digital touchpoints has created a greater appetite within consumers to receive a personalized experience with healthcare. As a result, payers need to stay on top of new data sources from health apps and devices and to continue to utilize digital technology in order to retain and acquire members and improve their bottom line. As consumers flock to payers that create a more consumer-centric experience, the payers that invest early and heavily in external digital assets will be the ones that reap the most rewards in the form of cost savings and customer loyalty.

 
 

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