Improve Your Member Experience Now Or Be Replaced
Oscar Health is leading with a customer-centric business model and using technology to transform the future of health insurance. Alphabet’s continued investment in Oscar Health follows recent profit announcements from Oscar, firing a second warning shot to insurers.
As Oscar shifts its focus to new populations, including Medicare Advantage, health insurers must take note and do the following:
- Improve member loyalty through differentiated customer service experiences that make customers feel appreciated, confident, and valued. Oscar’s customers view it as a trusted resource and start with Oscar’s concierge team to get guidance on navigating their care needs.
- Invest in cloud to achieve interoperability and build a strong data foundation that will enable advanced analytics, provider workflow, and digital member experience. Oscar built a network based on data, technology, and analytics.
- Build your advanced analytics capabilities. Predictive and prescriptive analytics have become table stakes. Oscar leverages its data foundation to determine which providers meet the needs of its members to build narrow networks, monitor quality, and proactively inform members about their potential needs to improve outcomes and intervene early.
What It Means For Healthcare Providers
Tech-savvy consumers are willing to change their provider for a better digital experience. Providers must recognize that customers are seeking personalized, convenient models. Limited hours and a lack of a digital experience will lead to a decrease in customer loyalty. Patients are willing to have limited choice if it means a more convenient option from a high-quality provider with lower out-of-pocket costs.
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