I recently spoke to a health insurance company executive. I suggested to him that the best way that health insurance companies can stop hemorrhaging money with their ever increasing claims loss ratios because of the epidemic of overtreatment is by investing in Information Therapy. I told him that he should publish the Healthwise Knowledgebase on their website, so that their customers could use this digital knowledge base to make better healthcare decisions for themselves. Empowering their customers with Information Therapy would ensure that they got the right treatment – not too much and not too little.
This is a time-tested model which has been successfully used across the US; and that all the top ten US health insurers provided this service. The US health-insurance market is far more sophisticated than the Indian market , and there is a lot we can learn from them . His response was…
