HealthEdge’s Latest Voice of the Market Survey reveals health plans focusing on lowering administrative costs

BURLINGTON, Mass.–(BUSINESS WIRE)–#HCITHealthEdge Software, Inc.® (“HealthEdge”), provider of the industry’s leading integrated financial, administrative and clinical platform for health insurers, HealthRules® Payor, today announced the results of the latest Voice of the Market Survey, an independently-commissioned study of 245 IT executives at leading health insurance companies. The survey explored CIO’s priorities and how technology leaders are helping their organizations navigate this critical period of transformation.

According to the survey, the top three priorities when evaluating a core administrative system are: technology modernization, realizing the shortest time to ROI and reducing administrative costs. The full report of the survey findings, along with a summary infographic, are available for free on the HealthEdge website.

Of note, survey respondents also identified the following top five challenges with their core administrative processing systems:

  1. Low claims accuracy and claims auto-adjudication rates
  2. Lack of transparency for internal/external stakeholders
  3. System cannot support value-based arrangements
  4. Administrative and operational costs are still too high
  5. People/time needed to configure

HealthEdge’s HealthRules Payor is a next-generation core administration system that provides transformational capabilities to health plans of all types and sizes. Notably, Gartner cited HealthEdge as a Sample Vendor for its next-generation core administration system in its August 2020 Hype Cycle for U.S. Healthcare Payers Report, 2020 for the 10th consecutive year.1

Methodology Details

The survey was commissioned by HealthEdge and conducted by Survata, an independent research firm in San Francisco. Survata captured 245 online responses in August 2020. For further information, contact us at info@healthedge.com.

About HealthEdge

HealthEdge provides modern, disruptive healthcare IT solutions that health insurers use to leverage new business models, improve outcomes, drastically reduce administrative costs, and connect everyone in the healthcare delivery cycle. Its next-generation enterprise solution suite, HealthRules, is built on modern, patented technology and is delivered to customers via the HealthEdge Cloud or onsite deployment. In 2020, HealthEdge was acquired by Blackstone, becoming the first healthcare and second transaction for Blackstone Growth (BXG). HealthEdge’s portfolio includes HealthRules Payor®, HealthRules CareManager®, and Burgess Source®. Follow HealthEdge, on Twitter @HealthEdge or on LinkedIn.

1 HealthRules is agnostic and Gartner cited HealthEdge as a Sample Vendor for its next-generation core administration system in its August 2020 Hype Cycle for U.S. Healthcare Payers Report, for the tenth consecutive year. (Footnote: Hype Cycle for U.S. Healthcare Payers, 2020, Analyst(s): Bryan Cole, Jeff Cribbs, Mandi Bishop, Published: 5 August 2020 ID: G00444809.)

Contacts

Media:

Gail Winslow

HealthEdge

+1-978-482-6237

GWinslow@healthedge.com

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