In an era marked with rising healthcare costs and the challenge of managing multiple point solutions, it’s particularly interesting to note what excites healthcare executives within the sector of the employer-sponsored insurance. Areas such as value-based care and data dominate discussions as we move towards an evolving future of employee benefits.
This was the focus of a panel discussion at the INVEST Digital Health conference held in Dallas. Moderated by Kate Huey, a partner and business transformation leader for health care at Ernst & Young, the panel featured top-tier healthcare leaders including Dr. Bipinchandra Mistry, Chief Medical Officer of Alight Solutions, Jeffrey Ries, executive director of JPMorgan Chase & Co. and CEO of HealthBook+, Chris Turner.
For Mistry, the future of employer-sponsored insurance is bright, especially when it comes to value-based care, an area where adoption has been comparatively slower. According to a recent survey, many employers didn’t fully understand the concept until recently. However, the sector is witnessing a shift as more employers engage in conversations around value-based care.
Beyond the value-based care concept, the possibility of data in eliminating disparities in healthcare also excites Mistry. With more sophisticated technology increasing our ability to gather relevant information – from wearable fitness devices to electronic health records (EHRs) – the spotlight is on data and its potential applications in healthcare.
“When you start to use data, AI and social determinants, you can start to break the barriers of equity and inclusion and access,” Mistry said. This sentiment was paralleled by both Ries and Turner, who emphasized the growing power and accessibility of data in today’s digital age.
The ability to construct AI models and understand better courses of action using data is highlighting its importance within the sector. Additionally, Alight’s research indicates a rising trend among employees willing to share personal data, marking a drastic shift from the attitudes from a decade ago.
The consensus is clear among health executives: the future of employer-sponsored insurance lies in value-based care and data. The ability to leverage these factors in delivering high-quality care to employees is an exciting prospect for the evolving spectrum of employee benefits.
Read the full discussion here.