Tuesday, October 18, 2011

The Future of Health Insurance

There are many opinions on this topic, below is an outline of mine.  I'm sure it will continue to evolve
  • In the next decade, the health care marketplace will be significantly different than it was in the last decade

  • The role of health plans is therefore going to be significantly different

  • Success in this new market is going to take bold leadership. Bold choices will need to be made. New ground broken

  • If we’re able to put (national and local) politics aside, the focus of health care reform will be on
    • People taking responsibility for their own health
    • Working together to make communities healthier
    • Providing better/smarter choices to consumers enabling them to live a healthier life
    • Sharing the accountability, risk and cost associated with providing care

  • These initiatives are what will reduce cost and improve the quality of care. No one has figured out all the details of how best to do this yet, but one thing is clear:

  • Information (data) is the most valuable asset companies have in this future

  • Health plans will transform themselves from insurance companies into information companies. A central component of their business plan and strategy will be information and information management. The type of information health plans own, and the quality of that information, is what will differentiate them from their competitors.

  • Being able to manage information effectively today is crucial in making this transformation in the future

  • Key (company) performance indicators in this future will be directly related to data and the quality of data. Every person within every department of an organization will be responsible and accountable for meeting performance goals which revolve around data