The COVID-19 pandemic has upended much of the world as we know it, wreaking havoc on industries of all sizes to varying degrees. And while business may be booming for networking technology companies or healthcare suppliers, for most industries the outlook is a bit more complex. In the years preceding the pandemic, the landscape of the insurance industry had begun to shift dramatically. The industry had been experiencing a fundamental transformation driven by the emergence of InsurTech—which has accelerated product innovation and introduced new business models—and an increasingly stringent regulatory environment. In an industry not accustomed to radical change, insurance …

Organizations often face significant challenges to deliver value to their customers in a timely manner without compromising quality. For this reason, many organizations are taking cloud migration seriously due to the promise of greater speed to market and value-add. As more businesses move towards adopting cloud solutions, spending on the SaaS model will continue to gain momentum as it is increasingly seen as a disruption that has revolutionized the software business because it provides greater flexibility to the customer. However, security, privacy and performance are some of the concerns standing in the way of full adoption. To meet these challenges, …

Pharmacy Benefit Managers (PBMs) play a crucial role in the healthcare industry. To this end, the PBM sector is evolving rapidly in the healthcare domain. Ever-changing regulatory guidelines focus on reducing drug costs which result in delivering best- in- class prescription products to better manage patient conditions. The role of PBMs Whether the need is for delivery of high-quality or cost-effective healthcare, PBMs are critical for helping patients achieve better health outcomes through greater access to appropriate medications. These include: Processing and paying prescription drug claims Developing and maintaining the formulary, Contracting with pharmacies to negotiating discounts and rebates with …

Financial services organizations exchange a lot of financial and business information every single day. It’s no secret that exchanging financial information has become an integral part of daily business operations and the processes that depend on them. Financial organizations that rely on frequent document exchange realize that the volume and breadth of information exchanged is increasing in today’s climate. Also the data consumed by enterprises is being shared by more systems and their respective business partners than ever before. The phenomenon of digitization within the realm of business is the leading cause of this unprecedented acceleration of growth in data. …

Bottlenecks within healthcare organizations is a tell-tale sign of inefficiency that can impede your business operation’s natural workflow. This is especially true when it comes to your 340B program since hurdles can negatively impact your program benefits. Legacy systems and obsolete methods in the 340B program process slow down your business growth, leading to non-compliance and consistent revenue loss. However, the good news is that by adopting a few changes in your 340 process, and by leveraging 340B technology solutions, you can overcome these issues. Technology solutions such as a 340B audit management tool, split billing tool, and virtual inventory …