Believe it or not, we’re 75% of the way through 2021! As we enter the fourth quarter of the year, we wanted to recap the key health tech trends third-party administrators need to be watching. Your clients will be coming to you for answers on how they can keep up with new legislative requirements and member technology demands, so consider this your primer to get them the answers they need.

(By the way, if you’re unfamiliar with the Transparency in Coverage rule and it’s technical requirements, check out our guide here to learn all about it!) So, what health tech trends should you keep an eye on as a potential aid in your success? Keep reading to find out.

Self-service shop-and-compare platforms.

This one is at the top of the list for many reasons. A self-service shop-and-compare platform:

• Helps lower healthcare costs.
• Meets the demand for healthcare consumerism.
• Supports compliance with the “internet-based self-service tool” requirement of the Transparency in Coverage rule.

As an example, offering a mobile app to your clients for their members to see out-of-pocket estimates for medical care, compare prices of providers, find the best deal for their prescription, and locate an affordable imaging center. This platform allows members to easily and quickly navigate the healthcare system and locate the most affordable options for their medical care which means cost savings for them, and for your clients. It also means improved member satisfaction for your clients and increased retention. Plus, depending on the self-service shop-and-compare platform, you would be helping your clients on their journey to compliance with the upcoming Transparency in Coverage rule.

AI

Specifically, AI can help TPAs improve their efficiency and accuracy by doing a lot of tedious work for TPAs. AI can process claims and use predictive outcomes to alert TPAs to a low-cost claim that can be processed faster. It can also help TPAs find costly claims and apply the best resources possible to improve claim outcomes. By having AI do a lot of the heavy lifting when it comes to data, you gain more time to focus on other areas that need your personal touch or expertise. You can also use AI to help automate some of your communication with clients or even identify insurance fraud. AI is becoming more and more accessible, and we suspect that more options specific to TPAs will emerge.

Greater access to telemedicine.

This has been said a lot, but COVID really did accelerate the usage of telemedicine. Many people have gone back to their in-person providers for physicals and sick appointments, but there are subsections of healthcare that are either seeing a high usage of or a high interest in telemedicine. Especially mental and behavioral health. As a TPA, you can find affordable, high-quality telemedicine solutions for your clients to add to their benefit offerings. Adding affordable telemedicine services can help attract new members or employees, and can lead to better health outcomes for those that use telemedicine. Busy schedules often keep people from receiving the care they need, but telemedicine makes it more convenient to receive care.

Final thoughts.

Some people get intimidated by technology or see the phrase “health tech trends” and roll their eyes, but digital innovations and other healthcare technologies can greatly improve your efficiency as a TPA, improve healthcare experiences for your clients’ members or employees, and help your clients to be more successful.