The Right Healthcare IT Tools Can Boost Cost Optimization and Member Engagement

A study from EY-Parthenon and KLAS Research found that payers believe healthcare IT investments can open up strategic opportunities for optimizing costs and increasing member engagement. With financial pressures increasing and more organizations engaging in risk-based value-based care models, composable healthcare IT tools are more critical than ever.

According to the survey:

• 72% of payer organizations cite cost optimization as one of their top three strategic goals for 2024
• Almost half of survey respondents cited a desire to focus on improving member experience
• Top priorities for IT investments include reducing burnout and administrative burdens, improving member enablement, and keeping up with regulatory and compliance issues

Health Payer Intelligence also highlighted the need for organizations to get software that can control spending, ensure payment and reimbursement integrity, manage chronic and other healthcare conditions, and improve utilization management.

Despite these needs, most payer organizations are working within budget constraints and don’t plan to expand the number of IT vendors they work with. That’s where Cedar Gate’s end-to-end platform can be the difference between missing targets and achieving shared savings, cost, and quality goals. We provide the most comprehensive and composable value-based care software for payers in any alternative payment model or business line.

The Value Revolution is underway, and success in 2024 and beyond depends on having the right healthcare IT tools to meet the ever-changing needs in a VBC world.