Sustainability initiatives are crucial to securing the next wave of health plan members through a commitment to a positive environmental and social impact. Younger generations—particularly Gen Z’ers—may not use the majority of healthcare services currently, but they drive consumer expectations, representing $3 trillion in buying power. The youngest generation of members and providers don’t want to see the carbon footprint or slowness associated with paper claims, paper EOBs or paper checks. Gen Z hasn’t ever had to operate in a non-digital world; they expect companies to keep up with evolving technologies that reflect speed and equitable access. In order to maintain a positive reputation and a strong member base, health plans must level-up their sustainability efforts.
While it’s certainly a challenge to balance the needs of less tech-savvy populations and position a company to match existing and future expectations of younger members, there are immediate solutions that can address the duality of this issue—certainly within healthcare payments. The payment process is the last point of contact a member has with their care experience, so improvements upon payments is a reasonable place to gain traction in sustainability practices.
Organizations that evolve administrative processes with digital payment options, paperless billing and consolidated workflows position their companies for further cost savings, increased trust, and long-term financial viability as they simultaneously meet the expectations of healthcare professionals and consumers. Time’s up on slow digital adoption. The extra push to modernize healthcare payments can make a meaningful impact on eliminating waste and supporting the environment.
A Simple Solution: Transition to Digital Payment Processes to Meet Sustainability Initiatives
By enabling an electronic payment process, healthcare payers improve payment accuracy and operational efficiencies with the benefit of supporting sustainability efforts. Not only does eco-friendliness lead to an attractive balance sheet, implementing streamlined payment platforms allows for nimble shifts amidst rapidly advancing tech and regulatory changes. . Through strategic payment optimization and the right technology, payers can drive savings and make a meaningful impact on avoidable healthcare spending.
Benefits of Going Green with Payments
Waste Reduction: Outdated, paper payments processes bring many costly challenges for healthcare payers that could be avoided. Streamlining digital claims processing, electronic billing, and online communications contributes to a more sustainable operation and improves member satisfaction by reducing the carbon footprint.
Streamlined Payments: Payers can create cost savings and security by consolidating the number of options for payment transactions onto one platform. This shift towards efficiency eliminates challenges that occur with paper communications regarding banking information or transfers.
Improved Member & Provider Engagement: Embracing sustainability initiatives can bolster a plan’s reputation, fostering trust among members, providers, investors, and the broader community. Positive perceptions can lead to increased customer loyalty and attract socially conscious investors.
Increased Security Protection: Digital payments processes help mitigate potential risks, such as regulatory penalties, operational disruptions, and the reputational damages of fraud that can occur with paper mailings.
Investment in technology = Investment in healthier communities
By prioritizing sustainability initiatives, healthcare payers not only contribute to a healthier planet and community but also position themselves as responsible and modernized organizations that meet the needs of their members and providers. Through strategic payment processes and digital transformation initiatives, healthcare payers can pave the way for a greener and more equitable healthcare future.
Simplify Digital Payments with Zelis
The Zelis Advanced Payments Platform (ZAPP) allows payers to fully manage payments and communications in one integrated portal. The ZAPP platform reduces system complexity, streamlines operations and can lead to easier digital adoption across the payment cycle for members and providers.
To learn more about how ZAPP can help your organization meet its sustainability initiatives through streamlined digital adoption, visit the ZAPP page or contact a Zelis representative.