2016 saw monumental changes to the healthcare industry as we know it. There was an increase in consumer-centrism, a continually growing financial burden placed on patients, and more complexity in benefit plans.
Amidst those changes, HealthExpense took every opportunity to distill, simplify, and unify the process of saving, spending, and managing healthcare benefits. From new product developments to a steady stream of conference attendance – our year was busy as we helped customers navigate the complex healthcare universe.
Given that it’s our mission to cut through the noise, here’s a quick recap of our team’s progress – and a glimpse at everything you can expect to see from us in the New Year.
One of the main goals of HealthExpense is to educate and empower the individual healthcare consumer. To do that, we helped people better understand healthcare decisions and save money. Our most popular blog posts of 2016 reflected this commitment:
- 7 Ways to Take Charge of Your Healthcare
- How to Transition Your Health Plan for a New Job
- 8 Critical Facts About Health Savings Accounts that Lead to Big Savings
- Healthcare Terms You Need to Know
- 7 Ways Personal Wellness Can Save You Money
From simplifying healthcare payments, to tracking deductibles and out-of-pocket expenses, HealthExpense helped individuals manage health related expenses in one place. In addition, the company stayed on top of industry trends and developments by attending many events and conferences, and receiving several awards in 2016, including:
- Insure Tech Startup Show Case Disruptive Innovator winner
- Alegeus Client Conference
- National Association of Professional Benefits Administrator Conference (NAPBA)
- IHC Forum East
After reflecting on a productive 2016, we look ahead to 2017 with optimism. Here are some trends we expect to see in the coming year:
Top 5 New Industry Trends to Expect in 2017
- Consumer-centered healthcare will take center stage. In other words, patients will have more control of their healthcare decision-making.
- There will be an increased focus on patient satisfaction.
- More people will learn that a simplified provider payments paradigm – with streamlined collections – creates happier and healthier individuals.
- Technology will continue to change healthcare and create better patient outcomes. Technology puts the patient in the driver’s seat, with increase transparency, clarity, and granularity of information. Text message programs and telehealth helps to provide support to patients in the moment.
- More employers will begin offering health savings accounts (HSAs) to help their employees tackle the ever-climbing costs of healthcare.
- Patient healthcare financial burden will continue to grow. “Our findings emphatically demonstrate that despite the advent of the Affordable Care Act, more patients are struggling to pay their healthcare costs,” said Gerry McCarthy, president of TransUnion Healthcare.
As these developments in the healthcare field continue to take shape, HealthExpense promises to stay one step ahead at every turn.
A Stronger 2017 with HealthExpense
“In 2016, HealthExpense evolved its product road map to include DTC, ensuring we build our product to support users at every step of their healthcare journey through every phase of life, whether you are retirement focused or otherwise,” says Divya Devli of HealthExpense. “We also launched our Track and Pay system, allowing users to make payments out of their HSA directly via their bank account.”
For 2017, we foresee many good things at HealthExpense:
- Product/value launches to increase the tools provided to users and further develop this central location and provide more savings
- Prescription savings
- DTC launch
- Spending reports
- Future payments
- Rewards program
- Continued growth
Today, consumers are extremely savvy. They recognize what they don’t want or need thus we continue to increase the number of tools we provide to users and further develop this central location, providing more savings. Our team is greatly looking forward to 2017. Ready to take control of your healthcare spending and savings this New Year? Visit us online at HealthExpense.com and join us today!