By Calvin Glenn-Oracle on Jun 06, 2013
We all know about the Patient Protection and Affordable Care Act that was upheld by the US Supreme Court in 2012. Now, how do we respond and react to embrace this legislation while also providing quality service to our customers and maintaining an edge over our competition? While states debate whether to expand Medicaid, launch health insurance exchanges, or both, payers have less than 18 months to plan their strategies, change their infrastructure and launch new products to capture market share. Payers must now learn to interface directly with end users. And they must learn the nuances of local markets. Flexible IT systems that enable unprecedented business agility will be critical to their success.
In executing on the individual mandate, payers need to take a hard look at their underlying rating infrastructure.
- Is it flexible enough to accommodate new customers and roll out new products quickly?
- Are the rating systems configurable so they do not require custom coding when the business needs change?