The New Health Exchange
Value exchange, improving health, and opportunities in healthcare
The Affordable Care Act also known as Obamacare will create a industry that is rich with opportunities. At the core the ACA does not address the increasing costs of healthcare it simply increases access and the delivery mechanism is Health Insurance Exchanges.
The market will soon be flooded with exchanges which do not add value to the system outside of assisting a consumer in finding an insurance policy. With a large number of exchanges operating largely under the same operating model how does a consumer, business, or health insurance company know which exchange to do business with?
Simplicity is typically the best solution to most problems and this is no exception. As a consumer, business, or health insurance company an exchange should provide real value in the form of reduced healthcare costs, increased efficiency, and improved health. This simple operating model should be called the Value Exchange.
The Value Exchange will blend health insurance exchanges, biometric activity/health monitoring, and wellness programs. A value exchange will have a competitive advantage for three reasons.
- Consumers will be incentivized to improve their health which lowes out of pockets health costs and improves a variety of weight related diseases
- Society will see improved work performance and reduction in mental health crisis
- Health insurance companies will see lower claims submission therefore saving money
The primary focus of a Value Exchange is not enrolling consumers in health insurance but helping improve the health of their consumers. There are so many ways to add value to peoples lives through small things.
Jerdon Johnston
