Health

Amazon, JPMorgan, Berkshire again exemplify the new economics that highlight health plan disintermediation

Health Mergers Acquisitions

As IDC Health Insights predicted in August 2017 (Digital Transformation and New Economics Highlight Payer Disintermediation), we anticipated more deals and vertical integration. CVS announced its intention to buy Aetna. In December, and this week Amazon, Berkshire Hathaway, and JPMorgan Chase announced a partnership to cut health-care costs and improve services for their U.S. employees, with the aim of improving employee satisfaction and reducing costs.

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Finance

Insurers Are Beginning to Embrace Open APIs To Tune In To The Evolving Digital Ecosystem

Insurers to Embrace Open APIs

The ‘Open Banking Revolution’, triggered by the second Payment Services Directive (PSD2), will see new, API-connected services brought to European consumers around the traditional core financial services, creating a more holistic banking experience. It is not just the regulation that is pushing banks to deliver customer-centric products and services. It is also the changing customer attitudes in the way they engage with their banks. It won’t be surprising if insurers are faced with a similar regulation or challenged by competitors influenced by the disruptions in banking sector.

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Data

How Much Money is Your Company Making from its Data?

Make Money from Your Data

What if you discovered oil in your backyard? How would you get it extracted from your property and deliver it to customers? Where would you sell it and what would you charge? If the world’s most valuable resource is no longer oil, but data, how does your enterprise leverage the data it already creates and manages to turn what is ‘in your backyard’ into a sustainable revenue stream?

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Data KPIs

Why Digital Transformation is Demanding New KPIs for IT

Digital Transformation Demands New KPIs

Digital transformation (DX) is causing a shift in the enterprise. Business leaders must rely on new KPIs for effective IT measurement. This blog covers the shift from traditional IT KPIs to the new KPIs that are being demanded as organizations are disrupted by digital transformation.

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Health

Payer/Provider Contract Management 2.0 for Payers

The day-to-day management of fee-for-value (FFV) transactions is virtually 100% manual, with critical calculation of value-based payments performed by spreadsheet or custom programming in SAS or SQL. As the number and breadth of value-based relationships grow, the industry’s administrative burden worsens. Important FFV calculations and financial settlements are months delayed, lacking transparency and accuracy. The ability of payers to launch new value-centric benefit products is hobbled by inflexible contract and payment platforms.

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Leadership Strategies

Fulfilling the Digital Transformation (DX) Strategic Priority of Digital Business at Scale

IDC Digital Leadership Blog

This is part 5 of the blog series on Digital Transformation (DX). This blog focuses on one of the three strategic priorities for the enterprise – Digital Business at Scale, creating an operating model to run new businesses at scale.

For previous parts in the series, see Part 1, Part 2, Part 3 or Part 4.

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Data Leadership Strategies

Fulfilling the Digital Transformation (DX) Strategic Priority of Data Monetization

Digital Transformation Strategy

Welcome to Part 4 of this 5-Part blog series on Digital Transformation (DX). This blog focuses on one of the three strategic priorities for the enterprise – Data Monetization, the leveraging of data to create new digital revenue streams.

For previous parts in this series, see Part 1, Part 2, Part 3.

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Leadership Strategies

Fulfilling the Digital Transformation (DX) Strategic Priority of Experiential Engagement

Technology Usage

Welcome to Part 3 of this 5-Part blog series on Digital Transformation (DX). Picking up from where Part 2 left off, this blog focuses on one of the three strategic priorities for the digital transformation of the enterprise – Experiential Engagement, the blending of digital and physical in consumer engagement.

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Energy

Mining DX 2.0: Digital Twins, Integrated Operations & Mining-as-a-Platform

Mining DX 2.0: Digital Twins, Integrated Operations & Mining-as-a-Platform

At a closed-door industry event I attended recently, even as an analyst working in the mining sector, I was taken aback by the pace of change the industry is experiencing right now. One of the striking things about the conversations that took place was how digital – particularly enabling platforms, digital twins, and integration – has become embedded in the transformation companies are on, and the role that digital led innovation is playing. The sector has a long way to go, but acceleration is really happening. The mining industry is on the move.

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Finance

Cognitive/Artificial Intelligence Systems Hold the Power to Transform Insurance Industry for Good

AI Systems to Change Insurance Industry for Good

This blog from Sabitha Majukumar (Senior Research Analyst, IDC Financial Insights), Philip Carnelley(Research Director, European Software Group) and Arun Dani (Senior Research Analyst, IT Services) highlights IDC’s recent research on cognitive systems and its impact on insurance industry.

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