A new study by Seattle-based Array Health, a private health insurance exchange technology provider, has found providing a consumer-focused shopping and enrollment experience is the most valuable capability for a successful healthcare exchange.
The study was based on the survey responses of 88 leaders across the health insurance industry. Based on a five point scale, the surveys respondents were asked to rank various capabilities of private health insurance exchanges, which are distinct from the Patient Protection and Affordable Care Act insurance exchanges.
The study made the following findings:
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The respondents said providing a consumer-focused shopping and enrollment experience was the most important health exchange capability by giving it a 4.4 rating.
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The respondents said enabling multiple funding models such as defined benefit and defined contribution was the second most valuable capability by giving it a 4.0 rating.
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A health exchange's capability to integrate with existing employer and insurer systems also received a 4.0 rating from the survey respondents.
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The third most important capability for a health exchange was offering ancillary products such as dental plans, which the respondents gave a 3.9 rating.
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The respondents said a health exchange's capability to generate data that can improve sales and inform product development was the fourth most valuable capability by giving it a 3.7 rating.
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