Some reading I did for getting up to speed on healthcare tech.
“Claims 2030: A talent strategy for the future of insurance claims”
- Using the old AI agent sidekick idea to take care of decision making. You still have a human face to walk you through stuff. Other roles are a person to sort out more complex things that a computer can’t do and the data scientists who monitor decision making and do new ML-stuff training.
“The productivity imperative for US life and annuities carriers,” McKinsey March, 2021
- Life insurance companies have been looking for growth for a long time.
- Cost cutting is a big priority: “In a proprietary McKinsey survey conducted before the onset of the COVID-19 pandemic, senior life-insurance executives estimated the industry needed to reduce its costs by 35 percent in the medium term, far higher than the typical 10 to 15 percent reductions realized in most cost-cutting programs.”
“How insurers can act on the opportunity of digital ecosystems,” interview with Markus Warg, McKinsey
- Insurance providers looking for new revenue streams, also new ways to optimize/save money, inc. lesser payouts.
- This guy is all about engaging with the “ecosystem” or partners and other people to layer on new features to health insurance. HealthKit on the Apple Watch is an interesting aspect. Why don’t more insurers do that?
- Offering new features to improve the business: “Take, for instance, health insurance. Health insurance’s value is in covering financial risks. However, this product can be enhanced substantially through further services related to telemedicine or health management—resulting in better prevention and reduced costs through more appropriate care settings. This benefits both the customer and the insurer. Similarly, innovations such as digital care assistants prove that traditionally lengthy processes can be completed via an app in just a few minutes. At the same time, such services help to create touchpoints with caregivers along the way.”
- Some pushing to getting faster develop lifecycles.
“The Time For Strategic EHR Workflow Is Now,” Forrester, July 2019
- Electronic Health Records (EHR) are not delivering on the promise of optimizing. Doctors don’t like them, they spend too much time in them. The UIs haven’t improved that much: ‘Providers now spend approximately 2 hours in
the eHr for every hour spent engaged in patient-facing activities.4 in addition, providers report spending an added 1 to 2 hours of “pajama time” catching up on work each night after hours.’