However, with the launch of Health Insurance Exchanges (HIXs) in 2014 where an estimated 12 million consumers will select individual health insurance, the future offers tremendous opportunities for health plans willing to embrace new technologies, products and services to attain sustainable advantage in the emerging consumer-centric marketplace.
Pacesetting health plans are developing innovative products that drive value and attract growth segments such as current and future retirees, health and value-conscious customers and the self-employed. They also are managing costs and improving outcomes by participating in ACO “shared risk” models and incorporating wellness and disease management programs into overall health management plans.
These transformations require investments in scalable and flexible enterprise systems. An insurer’s ability to segment and target preferred populations, price each plan appropriately based on risk and proactively help high-risk members manage their own health requires robust analytical tools harnessing rich data both internal and external to health plan’s systems. Key lines of business poised for rapid growth are strengthened by improved systems integration and automation.
In an era where health plans share the burden of transforming an unsustainable healthcare system, T2C offers healthcare industry organizations compelling business strategies that respond directly to these market conditions and provide a foundation for sustainable competitive advantage and growth.
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