Is Digitization The Answer?
Employee benefits administration and the healthcare sector as a whole have historically lagged behind thriving industries in the process of going digital. According to a Harvard Business Review study, fewer than 20% of all payments to healthcare providers and their suppliers are done digitally. While healthcare & insurance make up only a portion of the benefits admin space and payment processing is an even smaller piece of the puzzle, this significant lag in digitization is not the outlier, but rather the norm across the benefits administration space. Adapting tried-and-true manual processes into an electronic, automated format feels uncomfortable. However, the market has evolved by leaps and bounds in the last year, more so than in the last few decades, towards digitization – for good reason. Download our white paper to learn why going digital is the future of employee benefits administration.
The Benefits of Digitized Employee Benefits Administration
There can be significant friction to “going digital” across nearly all industry sectors – and employee benefits administration is no exception. However, as is the case with most sectors, digitizing operations in the benefits administration space can pay huge dividends. As the list of participants and software grows longer and more complex, the organizations that embrace digitization will be the most primed to mitigate those complexities and ultimately succeed. To learn about the 4 key benefits of digitization in the benefits administration space, download our white paper today.