Health and Medicare for all

Health and Medicare for all

There is much talk and there are many proposals to replace private health insurance with Medicare for Everyone (M4A). While the idea that everyone has health coverage without having to buy an insurance policy seems extremely appealing, there are several issues that people should understand. The government takes on large programs (i.e. the Affordable Health Care Act) usually results in a program 10% more effective than intended.Current proposals appear to eliminate private insurers in favor of a government-operated program. There are several issues to consider, such as availability of care, quality of care, and cost.Some insurers are making use of deep pockets to take advantage of digital technologies to change the way they work and:

Offer new models and customized products to meet changing customer expectations based on online retail sales models, Partner with technology players to ensure they keep up with emerging technology trends and leverage the Internet to adopt sensors or connected devices to collect data to prevent loss and employ better property and accident pricing methods, life as well as health insurance.  To learn the plans best for you click here

Establish a cybersecurity strategy to protect the confidential personal and business data stored by them and to comply with privacy regulations.The Internet of Things is upon us, at a conference of telemedicine, IoT, and telehealth technologies, using portable devices such as EKG & ECG monitors and playing a key part in the tracking of vital medical statistics to avoid or control chronic diseases and provide virtual patient care, raising satisfaction of customer in the process.

Portable devices allow patients to be monitored instantly, avoiding having to admit them in a hospital. Virtual care is set up to allow older people to stay at home, even when their health is controlled to detect any signs of deterioration.Countries with large populations with limited access to providers are turning to telemedicine, even with waiting times for medical appointments and Medicaid acceptance rates continue to increase year after year.Adopt cloud computing, artificial intelligence and automation to improve speed and flexibility and resolve claims faster to deliver better customer satisfaction,

Make use of advanced analytics to gain strategic insight and plan proactively for future gain and businesses offering a competitive advantage.Attempt the use of block chain technology to add decentralized, secure data collection, “smart” contracts, processing, and dissemination to your processes. Are these strategic initiatives sufficient to enable adopting companies to enjoy industry and market leadership and ultimately success? What resources are needed for insurers to prepare to meet industry demands, channel expansion or business model development as they evolve?