Healthcare Payers, comprising insurance companies and government programs like Medicare and Medicaid, face several challenges in today’s healthcare landscape. Healthcare Payers must tackle issues arising out of the rising cost of healthcare services, mounting intricacy of medical claims, and increasing need for accessible, affordable and quality care. Furthermore, ever-evolving government regulations and advancements in medical technology are continuously reforming the healthcare industry, creating fresh opportunities and challenges for Payers as they are required to continuously adapt their business models and strategies to efficiently manage costs, improve patient outcomes, and maintain their competitiveness in a rapidly changing market.
In this paper we will explore some of the primary challenges faced by healthcare payers, their potential impact and how technology can help overcome some of those.
