target audience: TECH BUYER Publication date: Jun 2023 - Document type: IDC MarketScape - Doc Document number: # US50826823
IDC MarketScape: U.S. Health Plan Product/Plan Benefit Configuration Solutions 2023 Vendor Assessment
This IDC study provides an evaluation of five vendors that provide payer solutions for product/plan configuration. The vendors we chose include front-runners in the industry that were chosen for their market share and penetration of their potential growth opportunities.
According to Jeff Rivkin, research director, Payer IT Strategies at IDC Health Insights, "Product/plan configurators are being implemented by payers that want to compete for consumers and groups aggressively with speed to market, flexible product offerings, and expansion to Medicare Advantage and ancillary products. As payers attempt to find new revenue and respond to governmental and competitive pressures, the ability to bring a creative product to market fast and effectively will be a competitive advantage. Those that can't may not survive the onslaught of value-based reimbursement, flexible networks, price competition, and consumer demand."