With the digitalization of health care, mobile apps have transformed and leveraged by the health insurance sector. Today, it is indispensable to have a mobile application for an insurance company to meet the expectations of tech-savvy millennials and compete with their competitors digitally. Using the web or mobile healthcare app, will make the healthcare facilities readily accessible and save precious time of the medical fraternity, especially doctors and the patients. Health Insurance Mobile apps are a great tool to harness the collective insights and power of remote and onsite workplace, help in better decision making and provide real-time outputs, to boost the business efficiency and profit.
With an increasing demand in the aging population in the U.S., the healthcare industry revenue is expected to rise. With the outbreak of COVID-19, the largest companies are ready to cover the expenditure related to the testing and treatment of COVID-19. An influx of patients with COVID-19 symptoms will rise in the coming days, and it will eventually lead to an increase in the expenses related to medical benefits. It will impact the profit margins for the health insurance companies. According to IBIS World, "The Health and Medical Insurance in the U.S. industry trends (2015-2020): Average industry growth 2015-2020: 2.9%." Despite revenue growth, the increase in medical cost and new legislation mandates for minimum medical loss ratios, leading to more pressure on industry profit.
Medical and health insurance companies, to increase their business profit, need to create robust, secured, intuitive, and user-friendly apps to attract maximum clients and do a profitable business. Generally, people using the app, and especially at the time of the pandemic, are impatient and want instant response and assistance regarding their query, regarding an insurance notification. Major Health Insurance companies like UnitedHealth Group, Anthem, Humana Group, Aetna, etc. are having the benefit of using a Health Insurance app.
Challenges faced by the Health Insurance Sector
Health Insurance is a lucrative sector, but some challenges are faced by private insurers who are still following the traditional approach to deal with their clients. People are adopting digital platforms for all their day-to-day activities and prefer opting for smart and quick solutions for their health-related needs as well. Today, patients are desperate to switch to mobile apps as all the information, from doctors to the best insurance plan, etc., everything is just a click away. Some of the challenges faced by the Health Insurance app are as follows:
- Excessive use of paper
- Long queues for appointment
- Wastage of time to avail the policy
- Hard to select the best suitable policy
- Disorganized health care system
- Difficult to find the best Doctor
So, when you are planning to switch your services to an app, you must provide a solution to all the above challenges, to make the end-users steer through easily with a few taps. The aim of the developer should be to create an intuitive, secured, feature-rich, and user-friendly app that will benefit the insurer by attracting maximum loyal clients for achieving business benefits.
Features of a Health Insurance App
To gain a competitive edge over your business rivals, it is essential to switch from the traditional methods to the digital platform to woo your patients. Here is a list of essential features your health insurance app must have to make it the most preferred app for your patients and recommended by doctors as well.
1. Offer suitable plans
To initiate the journey of your clients, the first step is to offer them various good options so that they can choose their best suitable plan according to their needs. A well-designed app allows users to make their choice easily. For example, providing a short questionnaire or form to the users to gather their basic information can be used to offer the most suitable plan according to their needs.
2. Purchasing or Renewing Policies
Everyone wants to make the best decision, and your app should act as a platform for the same. The real benefit of the Health insurance app is when users can identify and purchase their perfect policy. At times, people need to purchase a policy at another qualifying life event, like at the birth or death of a family member. The traditional approach to buy or renew an insurance policy has always been time-consuming and challenging. A good app acts as an aid to decide their most-suited plan in a short period.
3. Easy Payment Options
At times, clients forget to make their monthly or annual payments and may end us being paying heavy dues later. One of the main advantages of using the digital app is to offer automated payment options to clients so that neither the client nor the insurer has to face any penalties due to delayed payments. A secure payment gateway can be integrated into the app for automatic payment from the client to the health insurance provider, monthly or annually, as per requirement. This eliminates the fear of losing coverage on the insurance policy, as there will be no delay in making payments. By integrating with a payment gateway, patients can also pay the doctor's bills conveniently, immediately after their appointment.
4. Finding the best Doctors
Users can get a complete list of specialist doctors so that they can choose them according to their illness. Also, at times, an app can provide a team of concierges who analyze the symptoms and directs the patients to the specialists accordingly. Different filters can be added to help the users look for doctors in a particular area, or a particular illness, or for simply search for doctors by their name.
5. Booking an Appointment
This feature plays a key role in attracting many users to your app, as they can visit the doctors according to their scheduled appointment, and they can save ample time waiting in queues. A user-friendly calendar with easy navigation can help users to book their appointment based on the availability of dates and time-slots.
6. Search for Drugs
Health Insurance companies can tie up with pharmacies so that patients can search for the nearby pharmacy, where their prescribed medicine is available. Medicine delivery at the doorstep can also be provided to the clients.
7. Symptom Checker
This feature has been widely used in medical apps, but now, it has become crucial with the outbreak of coronavirus. A simple questionnaire or form can enquire about the patient's health, and based on that; they can be directed to the specialist doctor. It will also help in pre-diagnosis and save the time of doctors and the patient at the time of appointment.
8. Document access
Health Insurance app acts as a reservoir of all the essential health documents related to the insurance policy and their lab reports. Instead of looking out for papers in the cupboards, the user can easily fetch reports with a few taps on their phone. Users, if required, can share reports with their doctors through their phones, without visiting them personally. The app should have strong encryption so that the data is completely secured.
At times, patients forget their follow up visits. By implementing push notifications, the app can remind them of their next visit to the doctor. Also, important dates of claims processing, insurance expiration dates, and other important events are shared with the users through timed push notifications.
At times, people who are using the Health Insurance for the first time may have some doubts. A section of Frequently Asked Questions, allows users to clear their thoughts and make decisions wisely by knowing more about different scenarios and insurance policies.
11. Support Team
Patients and users purchasing or renewing health insurance policies should be able to talk to the Support team so that they can decide wisely before making any investment. The members of the support team should be patient listeners and qualified to understand and guide them in the best way.
The features mentioned above of the Health Insurance App are essential to attract and build strong, long-lasting relationships with the clients. The Health Insurance App development company should also focus on the medical regulatory guidelines so that they can be used for both public and private insurance. The sudden emergence of pandemic COVID-19 has compelled people to opt for best Health Insurance policies, and it is sure that by creating a robust, secured, user-friendly Health Insurance App, companies can make lucrative business gains in the coming years.