Upload
benefitfocus
View
263
Download
0
Tags:
Embed Size (px)
DESCRIPTION
Slides from Benefitfocus webinar "Private Exchanges: Build Your Technology Foundation" - Benefitfocus Director of Marketplaces Shan Fowler and Enterprise Product Manager Tom Dugan were joined by guest speaker, Forrester Research, Inc. Senior Analyst, Skip Snow to discuss how both a strong user experience and scalable administrative functionality within a private exchange are necessary to maintain and grow market share across all member segments.
Citation preview
© 2014 Benefitfocus.com, Inc. All rights reserved. 1
Thursday, July 17 20141:00 – 2:00 p.m. EDT
Dial In Number: 855-307-3005
Conference Code: 62961927
Presented by:
© 2014 Benefitfocus.com, Inc. All rights reserved. 2
Forward Looking Statement:
This presentation may include forward-looking statements related to the future business and financial performance of Benefitfocus and future events or developments involving Benefitfocus. These statements may be identified by words such as “expects,” “looks forward to,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “might,” “will,” “could,” “would,” “should,” “targets,” “projects” or words of similar meaning. Forward-looking statements can involve a number of risks and uncertainties that could cause actual results to differ materially from those explicit or implicit in the forward-looking statements, including fluctuations in those results, general economic risks, management of growth, the need to innovate and deliver useful products and services, our ability to compete effectively, reliance on key personnel, privacy, security, regulatory changes, and other risks associated with our business as set forth from time to time in our filings with the SEC. Benefitfocus assumes no obligation and does not intend to update any forward-looking statements.
© 2014 Benefitfocus.com, Inc. All rights reserved. 3
Shan FowlerDirector of Product Management, MarketplacesBenefitfocus@ShandonFowler
Tom DuganEnterprise Product ManagerBenefitfocus@tombdugan
Skip SnowSenior AnalystForrester Research, Inc.@SkipSnow
All Your Benefits. One Place.
• Founded in 2000• NASDAQ: BNFT• Headquartered in
Charleston, SC• Offices in Greenville,
Tulsa and San Francisco• Over 23 million
consumers
© 2014 Benefitfocus.com, Inc. All rights reserved. 4
© 2014 Benefitfocus.com, Inc. All rights reserved. 5
1 2PLATFORM MARKETS
© 2012 Forrester Research, Inc. Reproduction Prohibited 6
Healthcare transformation is underway.
© 2012 Forrester Research, Inc. Reproduction Prohibited
The system is pivoting to the consumer:
Payer Provider Pharma Bio Tech Omic
7
© 2012 Forrester Research, Inc. Reproduction Prohibited
Private Exchange Traction
3,000,000 people signed up for health insurance using private exchanges this year New York Times, 6/12/14
This growth was driven by companies of under 1,000 employees New York Times, 6/12/14
Accenture estimates that by 2018 40,000,000 will use private exchanges
The exchange that adds value will prevail
8
© 2012 Forrester Research, Inc. Reproduction Prohibited
Consumer Segmentation is Core
9
Source: Deloitte Center for Health Solutions, 2012 Survey of U.S. Health Care Consumers, 2012 Health Care Consumer Segments
Those who need service are using it via mobile more.
Consumers who use electronic Personal Health Record
Consumers who use paper Personal Health Record
Source: North American Technographics Healthcare Online Survey, Q1 2013 (US)
10
© 2012 Forrester Research, Inc. Reproduction Prohibited
Consumers want health services,but look for savings.
11
75%
26%
25%
23%
78% Higher Deductible
Wellness Program Participation
Less Network Flexibility
Fewer Services Covered
Greater Cost Sharing (e.g. copay)
% of respondents willing to accept tradeoff for reduced monthly premium
Source: Accenture Private Health Insurance Exchange Consumer Research
CX
Patients are empowered
Mobile Mind Shift
mHealth reduces cost and enhances outcomes
Digital Disruption
Flood of new data and tools are changing care
Big Data
Evidence- based medicine
Healthcare’s Age of the Customer
These market imperatives matter for healthcare, too!
12
© 2012 Forrester Research, Inc. Reproduction Prohibited
Zappos Defines Digital Disruption
• People shop in store but buy from web
• Created mobile experience accessible to users in store
• Embraced mobile mind shift
13
© 2013 Forrester Research, Inc. Reproduction Prohibited 14
Turn Big Data into Business Insight
› The data allows for machine generated cognitive insight
Analytics Reveals Evidence
› The New Methodology: Standards of Care are defined by retrospective analysis of big data
Big Data: Google Changes the Game
Google Reveals Flu Trends Faster than the CDC
“We've found that certain search terms are good indicators of flu activity” Google.org Flu Trends 2014
The key to this example is that the way we think about the insights we can gain from the data is unexpected.
15
Image Sources: Google.org Flu Trends, 2014; Google, 2014
Overcoming Bias: The need for choice architecture
17© 2014 Benefitfocus.com, Inc. All rights reserved.
© 2014 Benefitfocus.com, Inc. All rights reserved. 18
© 2014 Benefitfocus.com, Inc. All rights reserved. 19
20© 2014 Benefitfocus.com, Inc. All rights reserved.
© 2014 Benefitfocus.com, Inc. All rights reserved. 21
© 2014 Benefitfocus.com, Inc. All rights reserved. 22
Source: Johnson EJ, Hassin R, Baker T, Bajger AT, Treuer G (2013) Can Consumers Make Affordable Care Affordable? The Value of Choice Architecture. PLoS ONE 8(12): e81521. doi:10.1371/journal.pone.0081521
© 2014 Benefitfocus.com, Inc. All rights reserved. 23
Impacting TrendBending the cost curve
© 2014 Benefitfocus.com, Inc. All rights reserved. 24
© 2014 Benefitfocus.com, Inc. All rights reserved. 25
Q&A
Presented by:
© 2014 Benefitfocus.com, Inc. All rights reserved. 26
Questions?
Contact: Jordan Napper843-284-1052 ext. 6063
Presented by: