Saturday, January 18, 2020
The health plan market is undergoing a drastic transformation. In the past, the competition had been lean with just a small number of payers. However, the market dynamics are changing. Since 2017, the number of MA plan choices per county has increased by 49 percent. The competition is said to grow even more in the
[ Read More ]Rising healthcare promises have been tied to cloud technology in the most recent tech-talks of the town. While the majority of care providers are not holding their breath due to previous disappointments, we wanted to translate the often vague statements made into discrete simplified processes for healthcare. Healthcare is riding a wave of digital transformation
[ Read More ]When the concept of a digital hospital came into the picture, the initial goal was to shift physician practices from a paper-based approach to a more flexible electronic health record systems. For widespread adoption of Health IT, the Office of the National Coordinator for Health Information Technology (ONC-HIT) was also set-up in 2004. Although the
[ Read More ]After the enactment of the Affordable Care Act, insurers had to cut down on the ‘cherry-picking’ of members and not provide insurance to just low-risk individuals. To some extent, the scope for earning high-profit margins had decreased for health insurance companies. This rule created an imperative for them to look for ways to curb expenses
[ Read More ]The provider community strives day and night to improve patient outcomes and contribute to the dream of value-based healthcare. However, the complexity of chronic diseases renders strategies ineffective and prevents them from reducing available utilization. In the US, chronic diseases account for 75 percent of all healthcare spending, to the tune of $3.5 trillion. In
[ Read More ]One of the many aspects that insurers focus on to create more value through their health plans is to improve communication with the members. In the era of growing digitization, most payers have started to offer online services. However, many beneficiaries still use traditional channels to interact with insurers. Does it imply that members are
[ Read More ]Digital transformation in healthcare is tricky. It’s a $3 trillion space, after all! For all the ways digitization has transformed the way people shop, travel, and handle their finances, it has yet to make a major impact on how they deliver and receive healthcare. Digital transformation in healthcare has taken on an image that is
[ Read More ]Transitioning and succeeding in value-based care (VBC) is increasingly becoming the focus of many providers. Despite initial reservations, many providers are becoming ardent supporters of VBC payment models and are often the catalysts for change in their organizations. Traditionally, most providers were compensated under fee-for-service (FFS) arrangements (i.e., they were paid for services rendered, not
[ Read More ]“Pop health is still a pretty manual process. Having a dedicated solution, let alone a dedicated analytics platform, to address pop health is not as widespread as one might think.” –Brendan FitzGerald, Research Director at HIMSS Analytics When I first heard this line, a number of thoughts came rushing into my mind around the different
[ Read More ]Imagine your favorite football team is in a real neck-to-neck with another team, and the game could tip in anyone’s favor. It is the last minute, and in an insane turn of events, the quarterback throws the ball in the air, hoping the player in the end zone could make a touchdown. Instead, the reckless
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