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Last week, Electronic health record (EHR) supplier Cerner unveiled it was teaming up with life insurance company New York Life to push more secure access to EHRs and streamline the application process.
The partnership will help assist New York Life in accessing hospitals’ EHRs in a timely manner (near-real time) in accordance with the patients consent. Additionally, the two parties aim to streamline the notoriously tedious application process for both individuals and healthcare providers.
In a statement, Art Glasgow senior vice president of strategic growth at Cerner, shared his excitement stating:
We’re focused on helping life insurance companies return underwriting decisions quickly and accurately with near real-time digital-record delivery from across the country,
Our collaboration with New York Life helps create a faster, more efficient process that improves the experience for both life insurance applicants and insurers,
When discussing the significance of the collaboration, Alex Cook, head of strategic capabilities at New York Life, said in a statement:
These efforts are an important part of New York Life’s ongoing drive to leverage digital health data to accelerate life insurance underwriting,
With the support of these innovations, New York Life has reduced application processing time and streamlined the process for consumers to meet their life insurance coverage needs,
Reducing friction in the life insurance application process has proven to be incredibly relevant in today’s virtual world and tremendously beneficial to consumers,
Looking at the bigger picture, a host of other EHR companies have also partnered with life insurance companies in bid to facilitate the application process. In fact, the idea was coined as early as 2012 with experts shedding light on the possibility of streamlining transactions in reaction to claim requests via EHRs. Allscripts’ subsidiary Veradigm announced it was teaming up with MIB in 2019 in bid to furnish life insurance companies with data-driven risk-management services.
Source: Healthcare IT News