Educating Customers Will Be Key to Balancing Customers Expectations With Healthcare Plans

 

Highway to Health’s host welcomed Ryan Coplon, CEO at HealthWallet, about trends within the healthcare industry and how technology is helping to address evolving consumer needs. HealthWallet is a mobile app that is changing the way healthcare is delivered by simplifying the healthcare system for consumers.

Coplon discussed how HealthWallet came to be as well as his journey to becoming a member of an organization working to transform the customer’s journey within this complicated system. Having started in employee benefits consulting, Coplon moved on to become a partner at a firm that built and managed self-funded health plans.

However, over time, the revelation that as health plans became more sophisticated in design, they also became more confusing for plan members. So, the idea for HealthWallet was born.

We realized there was an “opportunity to leverage mobile technology and try and simplify that experience for originally our health plan members and realized we had a commercially viable solution that other health plans and health plan administrators could benefit from,” Coplon said.

He went on to discuss the trend of healthcare consumerism as well as the gap between the expectations of the consumer and the behavior of the consumer. Noting that this trend has risen to the forefront of healthcare challenges, Coplon opinioned “that the thought of applying traditional consumerism behavior in a healthcare model is something that is not going to line up in a way that’s commercially effective.”

And while consumers may not be happy with this reality, the fact remains that the healthcare system is not designed for consumerism. Consumers are dictated by the confines of the benefits program they have as well as the complexity of the healthcare system.

However, there is a middle ground that can serve both consumers and plan providers – this is where HealthWallet thrives. “The crossroads between convenience and cost-effectiveness is where healthcare consumerism has a chance and that infrastructure needs to be laid at a strategy level related to plan design and optimal entry into the healthcare system,” Coplon explained.

Make health care options financially beneficial and more convenient and consumers will engage with the system in a more productive and positive way.

More Like This Story:

From an Idea to Billion Dollar Company: How a Doctor Lobbied DC for HSAs

Does the Insurance Model of the Future Exclude A Traditional Health Insurance Carrier

Follow us on social media for the latest updates in B2B!

Image

Latest

Women's empowerment
Seizing the Narrative: The Transformative Impact of Storytelling on Women’s Empowerment
April 19, 2024

With gender equality becoming a significant global agenda, the narrative around women’s empowerment is more relevant than ever. Amid rising awareness and shifting societal norms, women are increasingly seeking avenues for self-expression and empowerment. A recent study by the Global Gender Gap Report highlights that while progress is being made, substantial efforts are still […]

Read More
V2G technology
Plug into the Future: Decoding V2G for Utility Applications
April 19, 2024

Brian Rudy from Verizon IoT and Melissa Chan of Fermata Energy explore the cutting-edge potential of vehicle-to-grid (V2G) technology at DISTRIBUTECH 2024. Their discussion highlights how this innovation transforms electric vehicles into dynamic energy storage units, capable of stabilizing the grid by storing and discharging power as needed. This technology represents a significant shift […]

Read More
zero trust architecture
Secure Grid Modernization with Zero Trust Architecture
April 19, 2024

Ray Bauer of Verizon Business engages with Del Rodriguez from Palo Alto Networks at DISTRIBUTECH 2024. Rodriguez shares insights into the significance of cybersecurity within the utility sector, particularly in light of increasing cyber threats and the convergence of IT and operational technology (OT). Bauer and Rodriguez discuss Palo Alto Networks’ initiatives to enhance […]

Read More
private wireless networks
Private Wireless Networks
April 19, 2024

Verizon host Wayne Weeks discusses the evolving utility industry with John Gaster, CEO of KSI Data Sciences at DISTRIBUTECH 2024. Together, they explore how KSI focuses on harnessing data from remote sensing devices to enhance the safety, efficiency, and cost-effectiveness of utility operations. Gaster emphasizes the significant role of AI and machine learning in […]

Read More