The Increasing Risk of Operating on an Outdated or Under-Supported Claims Administration System
Technology is evolving faster than ever before with the explosion of generative AI and large language models, as well as serverless computing and APIs. Meanwhile, the health insurance industry is becoming increasingly competitive with innovative startup companies entering the market and transforming the typical insurance business model by focusing on process optimization through automation and expedited claims handling.
In this rapidly evolving market, healthcare payers need to consider these questions:
Where will your claims administration technology vendor be in five years?
And what does that mean for your business?
Download our whitepaper below to find out if your claims administration system can keep up with this ever-changing environment.
Are You Operating on an Outdated or Under-Supported Platform?
Outdated administrative processing systems lack the capabilities of modern platforms and the gap is only getting wider. Under-supported systems may provide essential functionality, but they are quickly falling behind in terms of compliance with government regulations and the ability to adapt to the latest benefit trends.
Sticking with an outdated or under-supported system places your organization at a severe disadvantage. It requires a significant resource investment to support new lines of business, respond to changing regulations and enable interoperability, and in some cases, your outdated or under-supported system simply cannot accomplish what your business needs.
Download our whitepaper to find out how to quickly assess your current technology platform.
Don’t Let Fear Hold You Back from Doing What is Needed for Your Business
Fear of the unknown is the number one factor that prevents business leaders from making changes even when they know they need to do so. Change is perceived as risky, while the status quo is perceived as a safer choice. But inaction comes with its own set of risks in terms of increased administrative costs, operational inefficiencies and lost business opportunities.
Download our whitepaper to learn the five most common fears expressed by healthcare payers as it relates to claims administration system replacement and how VBA can help to alleviate those concerns.
What Will You Gain from Modernizing Your Claims Administration System?
As you contemplate replacing your claims administration system, it’s easy to get caught up in all of the perceived risks surrounding the implementation and lose sight of the end result. At the end of the implementation, you will have transformed your operations into a well-oiled machine that can quickly adapt to any challenges you may face in the future.
Here are some of the benefits you’ll experience with VBA:
Unlimited Potential to Grow Your Business
More Efficient Processes
Enhanced Security and Compliance
Reduced Tech Debt
Integrated Solution Suite