Healthcare payers largely evaded the worst effects of COVID- 19, yet changes wrought by the crisis have amplified the call to improve the member experience using digital tools and techniques.
As expanding market opportunities continue to attract new and nontraditional competitors, payers must be nimble and inventive to stave off new threats while capitalizing on market dynamics – and digital technology investment will play a key role in shaping the outcome.
To understand the changing nature of work in a world dominated by digital and disrupted by COVID-19, Cognizant’s Center for the Future of Work surveyed 4,000 senior executives at leading companies around the world, including 285 healthcare organizations, of which 50 were healthcare payers in the U.S. (to see our methodology, read “The Work Ahead for Healthcare Payers: Gaining a Foothold in the Digital Health Future”). We found that payer executives are ready to apply advanced technologies such as chatbots and intelligent agents, artificial intelligence (AI) and the Internet of Things (IoT) to change how work gets done.
While the pandemic has driven market churn, innovation will ultimately deal out the gains for the hard work ahead.