Technology and machines can replace much of the work that is currently done by hand. In our experience, the change can lead to average cost savings of up to 30 percent within five years for many payers.
Streamlined processes and automated routine tasks make it possible to complete in
minutes activities that previously took days. The accelerated service and delivery can improve the user experience for members, providers, and internal stakeholders, as long as automation does not restrict service offerings (e.g., by limiting access to some service channels).
Automation—in particular machine learning and advanced analytics—can
generate, capture, and analyze much larger data sets and hundreds of new factors, making it possible to predict drivers of business performance and generate important new insights.
Technology and machines can operate 24/7 and scale up or down with demand, creating previously unavailable capacity and further increasing operational efficiency and flexibility. As the pace of change in healthcare continues to rise, payers need to be agile and able to adapt rapidly if they want to remain competitive and win in the marketplace.
Improved quality with lower risk.
Automation can transform testing and quality control because the
increased capacity it provides allows a company to move from spot checks to 100 percent quality control, which reduces the error rate to nearly zero. When machines take on formerly manual tasks, the risks of human error also decrease.