According to report, Health Insurers: The Customer Engagement Imperative, recently released by A.T. Kearney, the healthcare industry is standing on the edge of transformation. “A confluence of economic and regulatory pressures require bold responses from health insurance companies. Continually rising system-wide costs, coupled with wavering public trust, have culminated in legislation that pressures insurers to carry more risk while capping their margins and mandating that they keep to an 85% medical loss ratio.”
The report also pointed out: in order to maintain competitive in this dynamic market, insurers are not only facing the challenges of lowing internal operation cost, but also improving patient health and driving change in the healthcare delivery system as a whole.
Healthcare organizations need a deeper understanding of their patients and members to fuel personalized engagement and marketing strategies. However, like many other companies, healthcare organizations often rely on many different applications and data sources, ranging from different branches, policies and customer care documents, patient records, etc.
How Cresco can help
We help clients pull together multiple data sources such as claims, clinical, social platforms and membership portals into one unified view to understand consumer preferences and behaviors. Leveraging IBM Cognos software, healthcare companies can implement web portals that provide healthcare managers with rapid insight into current situations in the organizations and enable them to respond faster to the changing market.
Additionally, the solution also enables healthcare providers to optimize their planning and control processes to gain greater insight into costs.
This vital management information provides valuable input for operations and marketing strategies: the insight allows them to identify and tackle developments quickly and leave more time for specific analyses of costs and processes.
We have a multitude of videos demonstrating IBM Cognos software in our YouTube Channel, which you should take a look at right away. And to watch IBM Cognos software live, and in action, connect with Cresco International today.