Transforming core operations in any industry can be difficult, but it has been successfully achieved in many sectors, such as financial services. However, many health insurance companies have been slower to evolve their operational modes. Health plans are crucial for providing medical services to improve personal health, so they often stick to traditional methods to ensure reliable service. Lila Benayoun, an expert in leading organizational transformations in the healthcare sector, believes in transitioning from a legacy mindset to a forward-thinking approach to innovation.
By strategically enhancing operational effectiveness through data analysis, companies can improve services for plan members, providers, and representatives. Understanding the top drivers of incoming calls and capturing relevant data can lead to a better overall experience. Retaining members is essential, and companies can analyze data to identify why members are leaving and what upgrades are needed in products and services. This can help prevent future disenrollments and strengthen customer loyalty, ultimately improving the overall customer experience.
Artificial Intelligence (AI) can play a significant role in improving operational effectiveness in health insurance companies. AI can help analyze reasons for member calls and predict future needs based on data from claims encounters and other customer interactions. By using AI to anticipate member needs and developing plans to meet those needs, companies can enhance member satisfaction and loyalty. Leaders should be open to exploring new technologies and integrating them into current processes to improve efficiency and stay ahead of competitors.
To prepare your company for transformation, it is important to focus on key questions that can drive initiatives to success. Understanding what keeps you awake at night, conducting sound analysis, ensuring infrastructure alignment, and having the right leaders in place are crucial components of a successful transformation. Transformation initiatives will inevitably face pushback, but it is essential to listen, discuss, and make decisions to move forward. Being bold, persistent, and open to change is key to successfully transforming a company’s core operations and driving growth. Being part of organizations like Forbes Business Council can also provide valuable networking opportunities and resources for business owners and leaders looking to grow.
