The future of healthcare is changing with technology and its impact is seen in the insurance industry too. In the healthcare industry use of artificial intelligence, nanotechnology, and 3D printing is growing. The insurance industry is working with the healthcare industry to use technology for the benefit of customers.
Imagine a situation where you brought a patient to the hospital. The doctor asked you to fill a medical history form to start the treatment. What if you do not know anything about the patient.
What if the patient is unknown or no one has any idea about his/her medical history?. For doctors, it is crucial to understand the medical history of the customer. As per doctors, it is risky to provide medicines without knowing any medical history of the patient. Medical history of the patient helps doctors to take a brief idea before the treatment. The form is crucial to check blood group, allergies, current medicines, medical issues. Before providing any treatment or prescription, doctors need to understand the patient’s body complexities.
During emergencies, there’s no time for doctors to wait for someone to fill the form. Family members who understand and know medical history, get stressed in the emergency and may fill out forms incorrectly.
What is the solution?
Now people connect their medical data to the electronic medical report. The moment a patient enters the hospital, the medical history is easily accessible to authorized people.
The system of keeping digital medical records is known as the Electronic Health Record (EHR).
It saves lots of time, money and most importantly, the life of the patient.
Benefits to insurers.
The digital health record connects to the insurance business benefits customers and insurers. The delivery of policies, claims and bills get efficient, and access to authorize data is improved.
Easy track the health record: For insurers, it will be easy to track the information. There is no need for the customer to send medical reports files to the insurers.
Remote Access: The ability of an authorized person to access data from a geographical distance. The remote access enables the insurer to connect to the systems. This help customers and insurer work far away effortlessly.
Authorized data use: Data authorization is a security mechanism which determines the levels of privilege a user have to check and use the data. The digital reports help to grant and deny network access. For an insurer, the authorized data related to policy can be available effortlessly.
Track family history: The family data helps to collect and identify the potential medical support needed. This data help to make policy, that involves creating more secure and safe insurance for customers.
Data sorting and data insight: Data sorting puts the data in a more understandable format. After data sorting, data insights helps insurers to make the best decisions for the customers.
Easy underwriting: With data sorting and technology advancement, insurers can generate underwriting without complications. The identification, evaluation, and prioritization of risk is critical for the insurance business. The risk areas involved are identified by the insurers very effectively.
Customize policy: Many insurers are entering the healthcare IT business, the medical history and medical record of the customer help customizing the product policy.
Optimize claim process: Customers while making the policy claim are more sensitive for the smallest changes. For insurers, It became easy to check records and provide decisions.
Provide the right amount: According to age, income, and family medical history, a person can choose the right insurance and pay the right amount. The customized amount helps to keep customers happy. Price plays an important role when it comes to acquiring customers. An insurer can easily win customers with this custom price method.
Connect to the customer: The purpose of the insurance company is to provide financial security to the insured. Some insurance companies send offers, rewards and bonuses to the customers who keep the good health record. When the customer gets rewarded, it makes customers feel delighted.
Conclusion: The electronic health record will improve the lives of people. It will save time, money and the lives of the patients. The data tracking and digital underwriting will be much efficient than the traditional underwriting process. The EHR is not only helping customers but also for insurers.