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Natural, Traditional & Alternative Medicine
2021-06-07 - 2021-06-08    
All Day
Natural, Traditional and Alternative Medicine mainly focuses on the latest and exciting innovations in every area of Natural Medicine & Natural Products, Complementary and Alternative [...]
Advances In Natural Medicines, Nutraceuticals & Neurocognition
2021-06-11 - 2021-06-12    
All Day
The two-days meeting goes to be an occurrence to appear forward to for its enlightening symposiums & workshops from established consultants of the sphere, exceptional [...]
Automation and Artificial Intelligence
2021-06-15 - 2021-06-16    
All Day
Conference Series invites all the experts and researchers from the Automation and Artificial Intelligence sector all over the world to attend “2nd International Conference on [...]
Green Chemistry and Technology 2021
2021-06-23 - 2021-06-24    
All Day
Green Chemistry and Technology is a global overview with the Theme:: “Sustainable Chemistry and its key role in waste management and essential public service to [...]
Food Science & Nutrition
2021-06-25 - 2021-06-26    
All Day
Food Science is a multi-disciplinary field involving chemistry, biochemistry, nutrition, microbiology, and engineering to give one the scientific knowledge to solve real problems associated with [...]
Food Safety and Health
2021-06-28 - 2021-06-29    
All Day
The main objective is to bring all the leading academic scientists, researchers and research scholars together to exchange and share their experiences and research results [...]
Food Microbiology
2021-06-28 - 2021-06-29    
All Day
This conference provide a platform to share the new ideas and advancing technologies in the field of Food Microbiology and Food Technology. The objective of [...]
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White Papers

Using Customer Journey Maps to Improve Health Insurance Customer Loyalty

hipaa compliance
Using Customer Journey Maps to Improve Health Insurance Customer Loyalty
Executive Briefing
Author
Jim Tincher, Principal Consultant, HeartoftheCustomer
Jim@HeartoftheCustomer.com
Editor
Shane White, Director—New Projects, FC Business Intelligence

swhite@fc-bi.com

Overview

It’s a time of massive change for the healthcare industry. The Affordable Care Act accelerated the move to consumerism, requiring more of a focus on customer experience than ever before.
Even payers who have always focused on individual plans have to adjust. At the same time as new competitors enter the consumer market, they also have to support exchanges while their consumers demand more than ever. The good news is that companies that get the customer experience right are rewarded with growth, adding loyal customers while simultaneously lowering the cost to serve. But get it wrong–hide behind byzantine bureaucracy and incomprehensible rules–and market share drops rapidly as customers flee towards simpler plans. Watermark Consulting analyzed the stock price impact of customer experience, 1 and found that while the S&P benchmark increased by 14.5% from 2007 – 2012, customer experience laggards’ stock lost 33.9%. At the same time, customer experience leaders saw their stock rise by 43%.

A journey map is a visual display of an experience as a customer sees it. See Elements of a Journey Map on page 5 for an example. This customer view is what makes them so useful. Unlike a process map, steps that do not resonate with customers are left out, while other steps that do not  directly involve the sponsoring company are included. Journey maps are used for both business and consumer customers, although the research methods vary between the two audiences. Journey maps are used for experience design by many players in the healthcare industry, from the Mayo Clinic to UnitedHealthcare.

McKinsey & Company analyzed the importance of managing entire journeys versus managing individual touch points (such as the website or call center). They found that industry performance on journeys is “20% to 30% more strongly correlated with business outcomes, such as high revenue, repeat purchase, low customer churn, and positive word of mouth.”

The example map on page 5 shows a representative journey for a segment of consumers purchasing health insurance. Notice that eight of the first nine consumer steps do not involve Coolsure Insurance’s (a mythical health plan)people or systems. This is often the case in a purchasing journey, as consumers or employers use other resources for their research. Unfortunately, these steps often have more influence over whether the customer eventually buys than does a company’s website or its sales force.

A typical journey mapping project analyzes separate customer segments, with a unique map created for each. For example, a Fortune 100  company implements a new health care plan very differently than a 50-person software company. Trying to encapsulate both experiences as one journey results in a watered-down map that doesn’t accurately represent either customer segment.