A growing number of healthcare organizations, including those in the oral and optical health space, are modernizing and streamlining their specialty benefits models. Now, offering virtual options is no longer a nice-to-have but a must-have.
According to a 2021 report regarding telehealth utilization performed by global management consulting firm McKinsey & Co., around 40% of surveyed consumers expressed interest in continuing to use telehealth going forward — up from 11% of consumers using telehealth prior to COVID-19. As organizations are increasingly embracing digital transformation initiatives, these larger telehealth and virtual health trends aren’t going anywhere. In a survey of more than 4,300 consumers conducted by J.D. Powers between June and July of 2022, consumers cited “convenience, the ability to receive care quickly and the ease of access to health information as top reasons for using telehealth.” As it specifically relates to optical and oral health, SKYGEN is a leader in the vision and dental specialty benefits management and administration space, providing automated solutions that transform the way payers approach insurance benefits. With this expertise in the specialty benefits space, SKYGEN considers their top predictions for 2023 among dental and vision payers, providers and patients like. These include offering more diverse and accessible virtual options, preparedness tips for a growing shift to corporate dental, as well as a value-based approach to dental services.
Among SKYGEN’s industry predictions, some key takeaways include that these trends will:
- Empower both patient and provider: With more options at their fingertips, patients will feel empowered to make their own choices and have a sense of control over their health and reaching optimum quality of life. This, in turn, can lead to providers retaining existing patients, as well as acquiring new ones. According to a CareQuest Institute survey, more than three-quarters of dental providers believe that utilizing a teledentistry platform increased access to care for patients.
- Provide dental organizations with new opportunities to become market leaders: With corporate dental an inevitability, SKYGEN suggests that this is a newfound opportunity for corporate dental entities to become leaders in the market. Download the full e-book for more information on what SKYGEN suggests are the leading attributes to success.
- Change the payment approach for dental services: Health insurance is increasingly top-of-mind for consumers going into 2023, with 86% of respondents to a recent survey expressing worry that their benefits are not adequate enough to cover all their healthcare needs for the year. As such, it is important for those administering benefits to consider programs that are in the patient’s best interest for providing better care and reducing overall costs. Access SKYGEN’s full e-book for a discussion on the emergence of value-based models.
- Put purchasing habits top of mind: According to McKinsey & Co., voluntary employer benefits such as dental and vision are becoming increasingly important to bolstering overall employee retention and satisfaction. At the same time, the scope of these insurance options can often influence an employee’s decision-making, with SKYGEN suggesting that providing a wide variety of options is just as important as offering the benefit itself. Particularly for vision, if there are not enough options, eyewear insurers will fall behind the competition.
In addition to consumers who purchase individual, commercial or Medicare coverage, employer groups, brokers, state Medicaid programs and more are also reevaluating their specialty benefits options and if it meets all of their expectations, which now include a number of factors such as access to virtual options, price point, convenience and more. As such, payers must stay on the pulse of the latest trends and developments in order to stay relevant, or risk getting left behind.
For the full industry predictions on dental and vision specialty benefits, download SKYGEN’s 2023 e-book: https://skygenusa.com/industry-predictions-2023