ISG Experts to Discuss Digital Priorities for Health Insurers During NTT DATA Webinar

Rhea-AI Summary

ISG will host a live online event on September 1, at 2 p.m. ET, focusing on digital transformation strategies for health insurers. Moderated by Ron Exler, the webinar features insights from industry leaders, including Deborah Norton from Harvard Pilgrim Health Care. They will discuss the adaptations made by Harvard Pilgrim in response to COVID-19, particularly the role of intelligent automation in enhancing efficiency. ISG highlights that automation can drastically reduce claims processing costs, from $4 manually to $1.25 when automated. The event aims to share valuable strategies for health insurance companies.

Positive

• The webinar will provide critical insights into digital transformation strategies, potentially benefiting various health insurers.
• Intelligent automation has shown to significantly lower claims processing costs, enhancing operational efficiency for health plans.

Negative

• Health insurers face ongoing challenges related to COVID-19, complicating operations and profitability.

STAMFORD, Conn., Aug. 26, 2020 (GLOBE NEWSWIRE) -- Healthcare industry experts with Information Services Group (ISG) (Nasdaq: III), leading global technology research and advisory firm, will explore game-changing digital transformation strategies for health insurers in “What’s Driving Your Digital Strategy? Empower Your Health Plan for What’s Next,” a live, online event Tuesday, September 1, at 2 p.m., U.S. Eastern Time.

Ron Exler, principal analyst for ISG Research, will moderate the virtual discussion with Deborah Norton, CIO and senior vice president of IT Operations for Harvard Pilgrim Health Care; Shashi Yadiki, health plan president, NTT DATA Services, and Bob Krohn, partner and ISG Healthcare practice lead. The event will detail the digital IT strategy that enabled Harvard Pilgrim to pivot quickly in response to recent events.

“Health insurers have less control than many other businesses over factors that fundamentally impact their operations and profitability,” Exler said. “Even before the current pandemic, health insurers needed to optimize their digital capabilities wherever possible, to manage regulatory changes, peaks and valleys in claims volume and medical innovations that affect coverage.”

Exler said COVID-19 is bringing further disruption for healthcare payers, with added confusion over coronavirus testing and treatment coverage, a surge in telehealth consults, and complexity around coding, billing and adjudicating claims. Both before and during the crisis, intelligent automation has created opportunities for payers to achieve unprecedented levels of efficiency and improve customer engagement. For Harvard Pilgrim Health Care, application modernization, intelligent automation, and predictive modeling formed the basis of a long-term digital IT strategy that enabled the health plan to quickly react to recent events.

“Digital transformation is an ongoing requirement, not just a response to crisis,” Krohn said. “Organizations whose digital transformation efforts were underway before the pandemic hit have fared better from an operational standpoint and are finding the resiliency to adjust to evolving market conditions.”

Krohn said one of the strongest opportunities to take costs out of operations is to apply intelligent automation to claims processing. “ISG Research has found it costs health insurers approximately $4 to manually process a claim, whereas an automated claim costs only $1.25 to process,” he said. “We are delighted to join the September 1 webinar with NTT DATA and Harvard Pilgrim Health Care to discuss the specific benefits for Harvard Pilgrim, and the larger lessons for other healthcare payers.”

To register for the webinar, visit the event website.

About ISG 

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world's top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

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Will Thoretz
Information Services Group, Inc. 
+1 203 517 3119
Will.Thoretz@isg-one.com

Jim Baptiste
Matter Communications for ISG
+1 978 518 4527
jbaptiste@matternow.com

FAQ

What is the date and time of ISG's upcoming webinar?

The webinar will take place on September 1, at 2 p.m. U.S. Eastern Time.

Who will moderate the ISG webinar on digital transformation?

Ron Exler, principal analyst for ISG Research, will moderate the webinar.

What company is featured in the ISG webinar discussing digital IT strategies?

Harvard Pilgrim Health Care will be featured in the webinar.

What is the primary topic of ISG's September 1 webinar?

The webinar will focus on digital transformation strategies for health insurers.

How much can intelligent automation reduce claims processing costs?

ISG states that intelligent automation can reduce claims processing costs from $4 to $1.25.