HealthEdge Keeps a Pulse on the Market
To understand the priorities of leading health plans, HealthEdge Software, Inc., in partnership with Survata, an independent research firm, interviewed 73 health plan executives in March 2018 to determine what are the top goals, challenges, and strategies to meet those challenges for health plans in today’s market. The survey asked three questions:
- What do you believe is your most important goal for 2018;
- What is the single greatest barrier today to achieving that goal; and
- What steps are you planning to take to overcome the challenges and achieve your organizational goals.
Health plans understand that their world is changing. They can no longer function solely as financial entities; they must transform to health companies and take their place in the health care ecosystem. Accordingly, member satisfaction was cited as the most important goal by the majority of executives surveyed. They understand that their members are seeking a consumer, retail-like experience with levels of service and information provided by other industries. Transformation of everything related to their business is critical for ongoing and future success. Despite all the uncertainty surrounding health care reform legislation, regulatory compliance, and other uncertainties coming out of Washington D.C., this survey shows us health insurers are most concerned with the tremendous pressure to innovate.
Health plan leaders are increasingly recognizing the critical need to invest in modern, next-generation technology to achieve transformation and become true health care companies in the continuum of care. Fifty nine percent cited modernizing technology as their #1 priority to achieve their goals. The right technology is a foundational necessity in the rapidly changing health care landscape. and recognized as a key enabler to help operationalize lower administrative and healthcare costs as well as bring business and technical teams together.
The leaders planning to effect change are also committed to updating workforce skills and improving internal business processes in 2018. Solutions that allow for cost savings, innovation, and the need to update people skills and bring internal teams together will create the path for success going forward for health plan organizations. To view the full survey results and report, please click here.
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