Coronavirus Updates Feed | Benefytt Technologies Novel Coronavirus has undoubtedly changed the world. And the economic impacts from the virus are highly visible on a global scale: The stock market has declined, small businesses have shut down, millions of people have lost their jobs, and unfortunately, many of those who were diagnosed with Coronavirus disease have lost their battle. To track the developments of this global pandemic, our direct-to-consumer website, Healthinsurance.com launched a news feed to consolidate and recap global news pieces and highlights about Coronavirus. The topics covered range from day to day, focusing on both positive and negative impacts. Topics have included: Coronavirus statistics: Updates on number of reported and confirmed cases, COVID-19 deaths, mortality rates, and patient recovery data. Visit Healthinsurance.com’s live feed for Coronavirus updates.
HIIQ Changes Its Name to Benefytt Technologies Inc. Company acquires major direct-to-consumer website as part of growth strategy On March 6, 2020, Health Insurance Innovations, Inc., announced that its corporate name changed to Benefytt Technologies, Inc. The name change signifies the company’s go-forward strategy to be a premier health insurance technology company that offers self-guided plan comparison tools and technology solutions surrounding a range of Medicare, private health insurance, and life insurance products to meet the evolving needs of its customers. Healthinsurance.com: A convenient resource for consumers Benefytt also acquired a direct-to-consumer site, healthinsurance.com, which offers powerful online comparison tools and educational resources to Medicare-eligible consumers, giving site visitors the ability to view available plan options in their areas and the option to enroll in a Medicare plan directly from the site. More tech solutions and insurance options than ever
Stock Price to Surpass $60: Citron Research Predicts Citron Research, one of the longest-running stock commentary websites, recently noted that the Coronavirus pandemic is the moment that will make telemedicine mainstream. And Benefytt Technologies (BFYT) is at “the forefront of this megatrend,” according to Citron. As a result, Citron predicts that Benefytt’s stock will surpass $60 by the end of this year. Citron’s full report came on the heels of a recent White House briefing to the country in which the need for more telemedicine offerings for seniors emerged as a key theme. The first half of the Citron report addresses Benefytt’s role in Medicare Advantage and Telemedicine. According to Citron: “There are 10,000 people turning 65 everyday. Over the past decade, enrollment in Medicare Advantage has nearly doubled to 22 million enrollees. That’s why Benefytt has made strategic acquisitions, beginning with TogetherHealth, PAP LLC, a brokerage that generates over 1 million Medicare Advantage leads annually.
Telemedicine During Coronavirus Pandemic [HealthInsurance.com Survey] The cost of healthcare still remains a factor for many Americans during the Coronavirus pandemic, according to a recent survey by healthinsurance.com, our direct-to-consumer website. The survey found that 39% of respondents would think twice about seeking Coronavirus medical care due to cost. But more Americans may turn to virtual healthcare options like telemedicine to avoid the waiting room and potentially cut their healthcare expenses. Why use telemedicine during COVID-19? Now more than ever, the CDC recommends getting virtual medical care for non-emergency health conditions. Telemedicine connects patients with medical professionals via phone or video chat technology. The silver lining of the healthinsurance.com survey is that 63% of respondents are willing to use telemedicine during the Coronavirus outbreak. These survey results were gathered via an online poll of more than 1,000 Americans between the ages of 18 and 64. What is telemedicine anyway?
COVID-19 Economic Impact [HealthInsurance.com Survey] The Coronavirus pandemic is impacting our economy and unemployment rate in unprecedented ways, with 17 million unemployment claims filed over the past two weeks alone. That’s why our direct-to-consumer website, healthinsurance.com, recently launched a survey to gauge the concerns and feelings of more than 1,000 respondents about COVID-19 and its economic impact. Healthinsurance.com focused on topics like medical costs, unemployment, health insurance options and the use of telemedicine during the COVID-19 pandemic. Here are 3 findings that surprised us: The above results were gathered through an online poll of more than 1,000 Americans between the ages of 18-64. If you’re one of the many Americans who has lost your job due to the economic impact from COVID-19, know that you have options and there are resources available. 6 options to consider: 1. You’ll likely receive a COBRA enrollment notice that includes information to continue your health insurance through your employer. 3. 4. 5. 6.
Joins Coronavirus Feed the Frontlines Movement Insurtech company, Benefytt Technologies, Inc., has teamed up with Feeding Tampa Bay to feed 4,000 Tampa healthcare workers on the frontlines during the Coronavirus pandemic. Benefytt’s community involvement stems from a grassroots #FeedTheER effort in the Tampa Bay area, where Benefytt is headquartered. Benefytt saw an opportunity to help expand the effort’s reach to local healthcare heroes, so the company joined the movement. The donated meals come from local restaurants, which further supports the local restaurant industry and our community in meaningful ways. Some of our recent feed the frontlines activities include: Partnering with World of Beer to deliver 60 meals to healthcare workers at St. The Tampa feed the frontlines movement has attracted attention and been covered by several local news outlets, including ABC Action News and WFLA. Feeding Tampa Bay, part of the national Feeding America network, provides food to insecure families in West Central Florida. Watch: Watch: Watch:
6 Medical Technology Trends During the Coronavirus Pandemic Instacart deliveries, Zoom happy hours, and chatbot interactions: It’s no secret that the coronavirus pandemic has changed how we work and play each day. If anything, pandemic technology has made us more resilient during an era of social distancing and quarantines. But what new medical technology trends have emerged during the Coronavirus pandemic? While it’s hard to tell what the healthcare industry will look like post-pandemic, companies and healthcare facilities alike have widely adopted or innovated new health technologies. That said, here are 6 medical technology trends we’ve seen. Medical Technology Trend #1: Telehealth Telehealth (also known as telemedicine) providers like Teladoc reported a daily increase in video requests to more than 15,000 during the coronavirus outbreak. Telemedicine allows you to set up a virtual appointment with a board-certified doctor, get an immediate diagnosis and receive the appropriate treatment. Medical Technology Trend #3: Biometrics
What is InsurTech? | Benefytt Technologies Inc. What is InsurTech? InsurTech is the combination of insurance and technology solutions for enrollment, insurance claims processing, underwriting, policy administration, data insights, fraud detection and more. InsurTech is disrupting the insurance industry by providing cost saving solutions and better customer experience for insurance companies. Let’s dive deeper. Insurance is an old business spanning back centuries: In fact, Ben Franklin founded the first insurance company in the United States. That’s where the benefits of insurtech come in. And it’s a booming industry. But what is insurtech, who does it help, and why does it matter? So let’s dive into the world of insurtech to get you familiar with: The definition of insurtechWhere the term “insurtech” came fromSome examples of insurance technologyWhat’s on the horizon for insurtech Insurtech Definition You may be familiar with the term “fintech” – a combination of the words “financial” and “technology” used in the financial industry. #1.
Healthcare Technology and Coronavirus [Survey] - Benefytt Technologies Certain U.S. cities are allowing residents to head back to work, dine at their favorite restaurants, and somewhat return to a sense of normalcy. But we aren’t out of the (coronavirus) woods yet. In fact, more than 1,000 Americans expressed how the pandemic is still a big concern in a recent survey by healthinsurance.com, Benefytt’s direct-to-consumer e-commerce platform for Medicare and private health insurance products. 84% of respondents feel that there will be a second wave of COVID-19 in the U.S., a sentiment that matches the data showing an unfortunate spike in coronavirus cases nationwide. The survey asked respondents about their use of medical technology as well as their feelings about work, vacation, financials, and self-care topics in light of COVID-19. Here’s a recap of some of the top findings and trends. Healthcare Technology Trends COVID-19 has caused companies to adapt, enhance, and evolve their technology quicker than ever. A Self-Care Anomaly During COVID-19 Methodology
Big Data in the Insurance Industry | Benefytt Technologies The digital technology revolution has transformed the professional world in significant ways. And it’s no surprise that big data technology has gained popularity, especially with the amount of insightful data that’s available to organizations. In this article, we’ll cover: Definition: What is big data anyway? Big data technology analyzes, processes and harnesses the data available to an organization in meaningful ways. And the insurance industry has not been left out of this big data revolution. What is Big Data? Businesses are flooded with data from different sources on a daily basis. Big data is used to describe very large structured and unstructured data sets. When analyzed, these incredibly diverse, large, and often complex data sets can reveal trends, patterns, and associations that can be applied to human interactions and behavior. While the idea of analyzing data within the insurance industry has gained popularity more recently, it’s actually an old concept. 1. 2. 3. 4. 1. 2. 3. 4.
Artificial Intelligence in Insurance | Benefytt Technologies The insurance industry is seeing a welcome disruption via artificial intelligence (AI), but only a few companies might benefit from this breakthrough. Most organizations lack cognitive technologies to process insight, and this makes the data almost useless. But insurtech companies can connect the potential of the AI data streams available. In this complete introduction to artificial intelligence, you’ll be learning: Characteristics of artificial intelligence (AI)How AI worksRecent AI trendsAI applications in the insurance and insurtech industryFuture of AI in the insurance industry And although artificial intelligence is massively popular, other complex tech topics like big data and deep learning can often cause confusion. So if you want to leverage AI and get the best out of this breakthrough, this article is for you. What is Artificial Intelligence (AI)? The concept combines different disciplines: computer science, philosophy, psychology, math, sociology, biology, and neuron science. #1.
Benefytt streamlines health insurance customer enrollment Trust and engagement through e-signatures Security is a top priority for Benefytt, and Adobe Sign’s security and authentication capabilities help the company protect the privacy of its customers. “Security and technology are the core focus for the whole company. We handle a lot of personal data and private health records – and our customers rely on us to help protect that data,” says Conley. “The only way we can continue to earn their trust is to show we do everything we can to safeguard their data. With that level of trust and security, Conley feels comfortable persuading other areas of the business to adopt Adobe Sign. “HR always understood the value of Adobe Sign but hadn’t taken full advantage of the application,” says Conley. The HR department now uses e-signatures for onboarding, offboarding, and everything in between. Conley is also working with the head of compliance on using Adobe Sign to manage contracts.