New Survey Says Digital Health Care Technology Is Benefitting Payers

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A new survey suggests that digital health care technologies are starting to yield strong results for payers.¹

Ernst & Young LLP announced the results of a survey it conducted amongst health insurance executives, revealing that digital health technologies are increasing member engagement with health care services. These devices include wearables, remote monitoring technology, and telehealth sessions.

These devices have become popular in recent years, and the survey results suggest that they provide users with a greater sense of control over their personal health management. Wearables, such as smart watches, provide users with up-to-date data on day-to-day health stats, and telehealth sessions have made it easier for users to schedule appointments without having to make major adjustments to their schedules.

In a press release, EY America’s health consulting leader Abby Johnson said, “Integrating consumer-oriented technology into health care processes connects members to personalized care, empowers them with real-time health insights and creates more effective and efficient care and administrative experiences. It's the bridge between traditional practice and a future where members hold the key to their own wellbeing, with the support of data-driven, accessible and compassionate health care solutions."

In the same press release, EY US’ health technology leader Kaushik Bhaumik said, “Nearly four out of five insurance leaders acknowledge that telehealth has not only bridged the distance between members and providers but has also made health care more affordable for members. Meanwhile, improved interoperability using digital tools is not just a matter of convenience: It's a financial and regulatory imperative, with over a third of these executives citing it as a key factor in reducing nonpayment rates. Together, these advancements are shaping a more efficient, accessible and sustainable health care system for all."

EY also revealed the results of a similar survey earlier in June about general consumer habits.² Interestingly, outside of medical care, consumers are seemingly shifting away from digital-first shopping habits, at least according to the results of the survey. Respondents stated that they preferred to purchase items from a physical store when possible, and that they also preferred to deal with humans directly, especially in situations which require discussing questions or concerns about a product.

Based on these results, it seems that people prefer to handle their health care digitally, but are moving away from that trend when it comes to other purchases.

EY continues to operate surveys and provide data across multiple markets worldwide. The company recently announced that it had appointed Duane M. DesParte as a global independent non-executive and that he will join the company’s global governance council.³

In a press release issued at the time, EY’s global chair and CEO-elect Janet Truncale stated, “As our profession continues to evolve, Duane's appointment reflects our deep commitment to audit quality and our continuing focus on meeting the dynamic needs of EY clients, people and stakeholders. With deep global and US regulatory and corporate experience, we are thrilled to add Duane to our GGC and welcome the contributions he will make toward reinforcing a culture of accountability, independence, objectivity, professional skepticism and trust, which is important to all of EY. We would also like to thank Sir C.K. Chow for his contributions and wish him well on his future endeavors."

Sources

1. EY Health Pulse Survey: Health Payers Report That Digital Health Care Tech Investments are Showing Promise for Members. EY. June 17, 2024. https://www.prnewswire.com/news-releases/ey-health-pulse-survey-health-payers-report-that-digital-health-care-tech-investments-are-showing-promise-for-members-302171117.html
2. EY Future Consumer Index: US Consumers Seek Loyalty Discounts and Human Interaction as Shopping Behaviors Shift. EY. June 3, 2024. https://www.prnewswire.com/news-releases/ey-future-consumer-index-us-consumers-seek-loyalty-discounts-and-human-interaction-as-shopping-behaviors-shift-302162277.html
3. EY Appoints New Global Independent Non-Executive. EY. June 10, 2024. https://www.prnewswire.com/news-releases/ey-appoints-new-global-independent-non-executive-302168273.html