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IDC PeerScape: Payer Practices for Product/Plan Benefit Configuration Initiatives

IDC PeerScape: Payer Practices for Product/Plan Benefit Configuration Initiatives

This IDC study details a set of recommended practices payer CIOs and project managers are successfully using to implement product configuration business transformation and software implementation. This study enables senior IT executives to broaden the IT group's understanding of business strategies, cultural challenges, technical complexity, and migration/conversion enormity when attempting these initiatives."Using product configuration software and workflow to establish a payer's product system of record repository is not a LOB, data, or IT project; it is a business digital transformation," states Jeff Rivkin, research director of IDC Health Insights' Healthcare Payer IT Strategies. "Payer product management is formalizing in payers, and enabling workflow and software to execute product/master data management methodologies is a cultural, technical, and migration challenge that is usually measured in years, not months. While daunting, the ability to coordinate multiple departments to bring creative products to market fast, coherently, and effectively will be a competitive advantage that must be addressed. Those payers that cannot evolve may not survive the onslaught of value-based reimbursement, price competition, and consumer demand."

Please Note: Extended description available upon request.


IDC PeerScape Figure
IDC Opinion
In This Study
Situation Overview
External Environment Context
Internal Environment Context
Requirements Context
Architecture Context
Market Context
Functional Context
Summary
Practice 1: Define the Deployment as a Digital Transformation Initiative, Not a Software Implementation
Practice 2: Identify Business Units to Address and the Scope of Products to Migrate
Practice 3: Align Cross-Functional, Vendor, and IT Resources
Practice 4: Articulate Workflow Organizational Accountability and Governance Policies
Practice 5: Establish Product Life-Cycle Management and Product Data Management Organizational Mentalities to Emphasize Business Transformation; Migrate/Convert Data Using Product Information Management Methodologies and Master Data Management Techniques
Future Outlook
Summary of Practices
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Related Research
Synopsis

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