The health insurance industry is changing and consumers are at the heart of that transformation. If insurers don't embrace the new consumer, they'll lose their competitive advantage. So it comes as no surprise that this year's AHIP Institute in Seattle aims to help insurance execs better integrate consumers into their business models.
In fact, the opening general session at the conference features high-level executives from two innovative companies--REI and Nordstrom--plus the CEO of Conscious Capitalism. They're going to talk about how insurers can reimagine healthcare in a consumer-centered world. I'm looking forward to hearing their opinions on how insurers can remain competitive in a new business-to-consumer market.
UnitedHealthcare, in particular, has looked to the retail industry for lessons learned and guidance as it continues to grow its business. And Cigna has been harnessing its data like Wal-Mart and Proctor & Gamble.
And since many of the new consumers are tech and mobile savvy, AHIP has organized a panel of experts to discuss how insurers can measure the return on investment for programs geared toward these members. Matthew Bowdy, Humana's communications strategist, along with Fitbit's director of wellness and Linkwell Health's director of sales, will discuss whether it's worthwhile to invest in mobile and social initiatives and the most cost-effective ways to educate and engage consumers in those programs. This is a particularly relevant topic and one many insurers can benefit from.
The AHIP Institute also will feature breakout sessions highlighting consumer interests, including how insurers must evolve to remain competitive, whether they should partner with other companies and lessons from some companies that already have taken advantage of the consumer-focused retail market.
But consumers aren't the only topic on the agenda at AHIP Institute. Also on the docket are data analytics, healthcare costs, private exchanges and federal health programs. One session of interest will cover the critical factors for population health management, including strategies for disease management and the impact data can have on these efforts.
There's sure to be a wealth of information and insight during the three days of AHIP Institute 2014 as the health insurance industry converges in Seattle.
We hope you're traveling to Seattle for the AHIP Institute to check it out for yourself. If you are, be sure to stop and say hi to our FierceHealthPayer editors. But if you aren't going to the Emerald City, we'll be attending the sessions and interviewing folks to bring you widespread coverage of the conference for the newsletter later this week. - Dina (@HealthPayer)