With recent transformations in the healthcare industry, new opportunities are emerging for healthcare payers and providers. Change is constant and inevitable; as a result, the healthcare payers are witnessing the advent of new care and payment models, re-alignment of incentive structure, the rise of consumerism, and the sudden surge in online insurance exchanges. A customer-centric approach holds several benefits for the healthcare payers; thereby, helping them achieve new levels of productivity, improve customer experience, and yield better outcomes by leveraging new digital and technological capabilities. The payers and providers are adopting the concept of consumerism to devise services and deliver a healthcare experience. Healthcare payers are also encouraging individuals to participate in their own healthcare actively. With the increase in healthcare costs, especially in the US, healthcare payers should focus on achieving cost efficiency and centralizing regulations to minimize the costs.
Healthcare Payers and Customer Centricity
A customer-centric approach can benefit healthcare providers and payers in several ways. By adopting a customer-centric approach, organizations can involve individual consumers in their own care process. To improve customer experience, healthcare payers must assess the existing customer journey by leveraging big data analytics to improve the buying experience for existing as well as new customers. A customer-centric approach coupled with analytics offers actionable insights to healthcare payers that help them resolve customer issues and complaints, help patients manage their own health, and adapting to the dynamic consumer needs. Analytics helps healthcare providers and payers to address important issues; thereby, driving brand and customer engagement to help them navigate their healthcare decisions.
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Leverage Analytics to Drive Customer-Centricity
Healthcare payers can leverage data analytics to gain a deeper understanding of their customers and make strategic decisions driven by insights. Through analytics, payers can enhance customer experience, manage operations in a better way, resolve customer issues, and identify customer preferences and behavior through customer segmentation. Healthcare providers and payers can improve customer experience by utilizing the insights gained through big data analytics, in the following ways:
- Simplifying the customer enrollment process
- Ensuring effective management of patient’s healthcare and medical needs
- Increasing awareness among consumers about various available products and coverages
- Offering quick resolutions to various billing, claims, and coverage queries through multiple accessible channels