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Should health insurance companies look to the racing world for advice?

“Finding ways to maximize your time and improve process efficiency will help you do more in less time.”  

 Other than the fact that race car drivers may need plenty of health insurance, there’s not much else on the surface that the two industries share however, when it comes to throttling their operations, health insurance companies could learn a lot from the racing world’s playbook—Here’s why:

#1 – Your “fans” depend on it

Just as racing fans expect drivers to put the pedal to the metal, your members expect you to act swiftly when handling their claims. Patients need access to the right billing information while waiting for reimbursement and they expect your agents to resolve any disputes as quickly as possible.

#2 – You can do more in less time

Though safety and diligence are crucial for winning a race, speed and efficiency are just as important. The same can be said when resolving customer issues. As a health insurance company, finding ways to maximize your time and improve process efficiency can help you do more in less time. Moving too quickly through the claims process risks overlooking key details, but focusing on improving how you handle claims can significantly boost your response time without sacrificing your quality of service.

#3 – Speed is crucial for meeting team goals

There might only be one driver per race car, but that doesn’t mean he or she wins the race alone. Each driver relies on a whole team of mechanics, sponsors, pit crew members, and other personnel to create a unified experience from start to the finish line. Having even one part of the team lagging in their speed can affect a driver’s ability to win.

The same holds true for health insurance companies. With multiple departments and team members, each group must learn how to work together to achieve the same goals. If one person or department isn’t hitting deadlines, it affects the entire organization. How quickly you’re able to serve your members is crucial, but it’s important you don’t sacrifice your quality of service in the hopes of finishing faster.

Discover how you can do more every day without taking shortcuts that will penalize your performance—Take a free interactive test drive of Panviva’s cloud-based knowledge management solution and be on your way to the winner’s circle!

 

 

 

 

Stephen Pappas

With more than 20 years experience in enterprise software sales and operations, Stephen Pappas manages all aspects of Panviva’s North American operations. He previously served as a Director of International Sales with Harte-Hanks Trillium Software, where he took their enterprise data management offering to 54 countries. Other roles have included Executive Vice President of a SaaS software start-up and Director of Sales and Business Development at PageFlex.

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