Healthcare payers lag in digital maturity: report

AI solutions could cut costs and increase revenue for payers.

Healthcare payers are trailing behind the global average in digital maturity, as well as other information-intensive industries with high user interactions, according to a McKinsey report.

For example, digital leaders in banking increased their use of digital sales channels by 30% from 2018 to 2022, improved call-center efficiency, and raised TSR by 8.2%.

Meanwhile, the healthcare payer sector could potentially benefit from digital transformation, with AI solutions capable of reducing administrative costs by $150m to $300m, cutting medical costs by $380m to $970m, and boosting revenues by $260m to $1.24b for every $10b in payer revenue.

“Successful healthcare payer digital transformations could substantially increase consumer and caregiver satisfaction, care quality, and organisational efficiency,” the report said.