Announcing Omni-Payer: Member Information Management for Health Insurers
in Omni, Insurance, Data Integrity, health insurance, MDM, omni-payer
Last week, at the Blue Cross Blue Shield IM Symposium in Florida, we announced a great product for the health insurance market: Omni-Payer.
In his opening keynote remarks, Joe Gregor (VP Commercial Markets, Florida Blue) said: “to grow membership and increase profitability, best-in-class member engagement is our crucial, first, priority – beginning with radical improvements in the capture, synthesis and use of member-focused information”.
Absolutely. "Capture, synthesis, and use of member-focused information" describes Omni-Payer as well as anything in our marketing materials.
He went on to note that, although we capture millions and millions of transactions, we derive very few actionable insights from them -- even as our member retention outlook sits at 50-55%, and member churn continues to kill margins.
What do do? He said,
We need integrated, actionable, member-centric information that is easily accessible by all key activities, in real time.Why? The key to success in the retail business is to build cost effective relationships with members that result in greater satisfaction, improved health, greater retention, and better earnings!How? Since we can’t give everyone there own RN or “concierge”, the answer has to be through electronic engagement based on improved data and information!
Then, no surprise, he talked about moving to integrated, synthesized consumer information.