Demographic changes and economic factors coupled with cost of medical services is driving increase in national health expenditure. The Center for Medicare and Medicaid Services (CMS) estimates that US health spending will increase at an average annual rate of 5.4% during the period 2019-28 and it is expected to reach $6.2 trillion by 2028. National health expenditures are projected to outpace the GDP by an average of 1.1% resulting in the health segment going from 17.7% of the economy in 2018 to 19.7% by 2028. Besides cost, other factors such as a shift towards value-based payments, increased competition at local and national levels from existing and new entrants, blurring of lines between payers and providers (resulting in ‘payvider’ organizations), expansion of care models, new types of network benefits and decreases in certain lines of business and increase in government spending (Medicaid and Medicaid) has highlighted the need for Tech-driven solutions.
Mindtree proposes a cloud-based and best-in-class ecosystem of solutions named ‘Next Gen Payer’ to address the end-to-end needs of new, small, or mid-sized payers. The Next Gen Payer solution powered by Salesforce provides the technology and functional underpinnings for the seven major areas of the payer value-chain.
Download brochure to know more
Click to read more about Mindtree's solutions for the Health industry
