Practical Steps for Maximizing Your AP Throughput
Leaders Learn to Maximize Their Human Capital in Accounts Payable Practical Steps for Maximizing Your AP Throughput Share on facebook Share on twitter Share on
Cloud: Payers to consider
a move to the Cloud – Part II
- Ruth Fisk
- 04/16/2021
- Insurance
- No Comments
As cloud becomes a more widely adopted IT strategy as outlined in my latest Blog; Cloud_Next NEW NORMAL_expected to drive wider adoption – Part I so too is the industry showing a significant incline of cloud adoption in the healthcare industry including payers.
An increasing number of health payers are migrating data, tools, and infrastructure to the cloud for more flexible and scalable storage. Health Payers are considering more often to move certain applications or data to the cloud because it is generally cheaper to manage and support than on-premise infrastructure which also them to achieve cost savings by reducing their in-house IT team and IT infrastructure.
However, migrating to the cloud provides many more benefits to payers beyond cost savings. Payers can reengineer their business processes to take full advantage of new opportunities for innovation, expansion, mobility, and savings available through the cloud.
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A recent webcast on “Key Considerations for Health Payers moving to the cloud” showed the following considerations:
- Emphasized that the IT team must focus on comparing current capabilities against services available in the cloud during the planning phase. The IT team should also create a strategy that focuses on transparency and value for both cloud and in-house infrastructure.
- Examining the value of cloud computing through a people, process, and technology roadmap can help business teams evaluate how the cloud could benefit all aspects of daily business processes.
- While migrating to the cloud can provide value to payers, advises businesses to be discerning when making decisions about any significant IT changes. The cloud can help companies make progress toward achieving strategic goals, but not all processes and systems are a good fit for cloud migration. Further, it is important to choose the right cloud options for the specific application.
Choosing the right cloud for the right application has been proven as a top of mind concern for Health Payers as they consider the move to the cloud. In a recent survey (Feb 2020) by VansonBourne, more than 2,300 IT decision makers validate that choosing a hybrid cloud model will best suit their needs. The survey uncovers these important points:
- Health Payers are increasingly adopting hybrid cloud models.
- Respondents forecast that Hybrid cloud deployment by healthcare payers is expected to jump from 19 percent penetration to 37 percent in two years.
- According to the Cloud Standards Customer Council (CSCC), the average enterprise environment uses a combination of five or six cloud environments that can be a combination of private on-premises and public clouds.
Content is a significant part of any business process at a health insurance payer. Content Services Platforms delivered as a service can provide significant value to a payer when considering the best option to store and make content available to other applications. As such, as payers consider a move to the cloud it will be important for them to partner with a cloud provider that has demonstrated success in managing content and at providing hybrid cloud solutions that enable the best options to manage content and applications. This is where “Experiences matters.” Stay tuned to my next blog to learn more on this topic,
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Ruth Fisk
has more than 30 years of experience working within the insurance industry and is a foremost expert on the practical application of content services platforms in insurance. In her role as Global Director Insurance at REQUORDIT, she has worked with more than 2,000 insurance organizations to successfully reduce operating expenses, increase efficiency, and positively impact their bottom lines.
Leaders learn to Maximize their human capital in Accounts Payable
Leaders Learn to Maximize Their Human Capital in Accounts Payable Many businesses talk about automation in AP and the statistics around reduced time and financial
Cloud: Payers to consider
a move to the Cloud – Part II
As cloud becomes a more widely adopted IT strategy as outlined in my latest Blog; Cloud_Next NEW NORMAL_expected to drive wider adoption – Part I so too is the industry showing a significant incline of cloud adoption in the healthcare industry including payers.
An increasing number of health payers are migrating data, tools, and infrastructure to the cloud for more flexible and scalable storage. Health Payers are considering more often to move certain applications or data to the cloud because it is generally cheaper to manage and support than on-premise infrastructure which also them to achieve cost savings by reducing their in-house IT team and IT infrastructure.
However, migrating to the cloud provides many more benefits to payers beyond cost savings. Payers can reengineer their business processes to take full advantage of new opportunities for innovation, expansion, mobility, and savings available through the cloud.
A recent webcast on “Key Considerations for Health Payers moving to the cloud” showed the following considerations:
- Emphasized that the IT team must focus on comparing current capabilities against services available in the cloud during the planning phase. The IT team should also create a strategy that focuses on transparency and value for both cloud and in-house infrastructure.
- Examining the value of cloud computing through a people, process, and technology roadmap can help business teams evaluate how the cloud could benefit all aspects of daily business processes.
- While migrating to the cloud can provide value to payers, advises businesses to be discerning when making decisions about any significant IT changes. The cloud can help companies make progress toward achieving strategic goals, but not all processes and systems are a good fit for cloud migration. Further, it is important to choose the right cloud options for the specific application.
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Choosing the right cloud for the right application has been proven as a top of mind concern for health payers as they consider the move to the cloud. In a recent survey (Feb 2020) by VansonBourne, more than 2,300 IT decision makers validate that choosing a hybrid cloud model will best suit their needs. The survey uncovers these important points:
- Health Payers are increasingly adopting hybrid cloud models
- Respondents forecast that Hybrid cloud deployment by healthcare payers is expected to jump from 19 percent penetration to 37 percent in two years.
- According to the Cloud Standards Customer Council (CSCC), the average enterprise environment uses a combination of five or six cloud environments that can be a combination of private on-premises and public clouds.
Content is a significant part of any business process at a health insurance payer. Content Services Platforms delivered as a service can provide significant value to a payer when considering the best option to store and make content available to other applications. As such, as payers consider a move to the cloud it will be important for them to partner with a cloud provider that has demonstrated success in managing content and at providing hybrid cloud solutions that enable the best options to manage content and applications. This is where “Experiences matters.” Stay tuned to my next blog to learn more on this topic, Cloud: No two clouds are created equal. Part III
Ruth Fisk
has more than 30 years of experience working within the insurance industry and is a foremost expert on the practical application of content services platforms in insurance. In her role as Global Director Insurance at REQUORDIT, she has worked with more than 2,000 insurance organizations to successfully reduce operating expenses, increase efficiency, and positively impact their bottom lines.
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