Five Ways ChatGPT Will Change Healthcare Forever, For Better

Artificial intelligence will transform medicine as we know it

In the same way the iPhone became an essential part of our lives in what seemed like no time, ChatGPT (or whatever generative AI tool leads the way) will alter medical practice in previously unimaginable ways.

For example: 

• By providing around-the-clock medical assistance

Unlike a solo doctor, next generations of generative AI will be able to monitor patients 24/7 and provide ongoing medical expertise. Doing so would help patients prevent chronic illnesses like heart disease, hypertension and diabetes, and minimize their deadly complications, including heart attacks, strokes and cancer. 

No matter how powerful and skilled ChatGPT becomes, it will have limitations. The application will always be dependent on the accuracy of human-inputted data. It will be influenced by the biases of doctors on which the application is trained.

To prepare the next generation of doctors, today’s educators must break healthcare’s unwritten rules and build this technology into medical school and residency training. Rather than viewing ChatGPT as a threat, trainees will benefit by learning to harness the clinical powers of generative AI.
by Robert Pearl, M.D. Forbes Contributor.
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Congratulations to Employee Navigator and Ease
Have you heard the news!

Employee Navigator, the leading benefits administration and HR software solution for insurance brokers and employers, today announced the acquisition of Ease, the leading broker centric HR and benefits software solution for small businesses.  The combined company will support over 150,000 businesses, more than 4,000 insurance brokers, a marketplace of 300 integrated partners and over 13 million employees in the U.S., making it one of the largest benefits administration and HR platforms in the country.

For more details on Employee Navigator purchasing Ease, you can read the full press release here.

MEDICARE

Sponsored by AGA

Medicare Advantage Added Record 2.7M Members This Year
Led by United and Humana

Medicare Advantage (MA) record growth was led by United (44%) and Humana (21%) while nonprofit insurers lagged behind. MA grew 9.5% by adding a record 2.7 million members, while traditional Medicare lost 1.3 million beneficiaries, according to analysis by The Chartis Group.
Read more.

CMS Eases Expected 2024 Payment Rate Cut To Medicare Advantage Insurers

Medicare Advantage providers face a 1.12% average cut in next year’s reimbursement rates, the Centers for Medicare and Medicaid Services announced — lower after intense industry lobbying than the 2.3% drop regulators had previously proposed. Additional changes aimed at combating overbilling by providers will be phased in over a 3-year period.
KHN Read more.

GROUP BENEFITS

Sponsored by Word&Brown

New Research Reveals Leading Employee Benefits in 2023

Employees will always take more money if you offer it. But pay alone isn’t necessarily all it takes to attract and keep good employees. In a survey of employed workers and employers, Forbes Advisor found that 40% of employers say workers leave their job to find a role that offers better employee benefits.

• 62% of businesses have changed their benefit offerings in the past year. 
• Employer-covered healthcare: 67% of employees and 68% of employers believe this to be the most important benefit.
• Pension and retirement plans: 34% of employees and 34% of employers agree that planning for the future is vital.
• Mandatory paid time off: Employees value mandatory paid time off more highly than employers are aware: 31% of employees named this a top benefit, but it didn’t reach the top five benefits among employers.

Mental health assistance: 33% of employers named this a top benefit, while only 23% of employees listed it.
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Rising Health Care Costs Should Set Off Alarm Bells for Plan Sponsors
Gap between actual employee satisfaction and employer perception of satisfaction rose to 22 percentage points

Mercer study shows employers strategies for the next three to five years include enhancing benefits to improve employee attraction and retention as top priority.
Meanwhile, new data released by MetLife last week found that employees’ satisfaction with their overall benefits fell to 61% in 2023, down from 64% in 2022. The 2023 satisfaction level is the lowest point in the past decade.

This directly contrasts employers’ view of their employees’ benefits satisfaction, as the gap between actual employee satisfaction and employer perception of satisfaction widened to a staggering 22 percentage points, up from three percentage points in 2018, according to MetLife’s benefits study, which was conducted in November 2022 and surveyed 2,840 benefits leaders and 2,884 full-time employees.
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COMMISSION COACH

Sponsored by Commission Solutions

Beneficiary Designations Versus a Commission Protection Plan

In this article we compare carrier beneficiary agreements with a Commission Protection Plan. We will explain the beneficiary agreement generally offered by carriers, then explain the shortfalls of these agreements and finally we outline a projected financial comparison with a common buyout agreement and how the numbers work in the sale of commissions. 

To begin with you need to know only a few carriers offer a beneficiary designation option to protect a broker’s hard-earned commissions. This designation has important limits as it only fits when a broker dies and only applies to IFP and Medicare Supplement lines of business. When a broker completes a carrier designation, the surviving family cannot sell these commissions. We can stop with these limitations and just advise not to use a Beneficiary Designation, but we will continue and explain the math we use to compare the two options, 1) “Protect then Sell” with 2) the Beneficiary Designation with a carrier. Since it is obvious, we do not consider designating commissions as a viable solution, we want to bolster this case and outline two main concerns for a broker working on planning for commission protection

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TECHNOLOGY

AFTER THE PANDEMIC, IN-PERSON VISITS PREFERRED OVER TELEHEALTH VISITS, STUDY FINDS

Although most primary care physicians and patients were satisfied with telehealth visits during the coronavirus pandemic, majorities of both populations prefer in-person visits in the future, according to a new research article published today by “Health Affairs.”

The most common reason given for lower quality of telehealth visits compared to in-person visits was the lack of a physical examination (92% of physicians and 90% of patients)

KEY TAKEAWAYS

• 60% of physicians reported that the quality of telehealth visits was inferior to in-person visits
• 33% of patients reported that the quality of their video visits was inferior to in-person visits
• 90% physicians and patients reported that telehealth visits went well during the coronavirus pandemic

 Read more

INDUSTRY NEWS

Blue Shield of CA Named one of Fortune’s 100 Best Companies to Work For®
Nonprofit health plan ranked 72 in national list with nearly 90% of employees reporting company as great place to work

Great Place To Work® and Fortune magazine have honored Blue Shield of California as one of the 2023 Fortune 100 Best Companies to Work For®. This is Blue Shield’s second time being named to this prestigious list, this year coming in at No. 72. 
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‘Deeply Flawed’ say Providers and Insurers in Reaction to ACA Ruling on Preventive Care 

U.S. District Judge Reed O’Connor struck down enforcement of preventive care mandates under the ACA, determining that health insurers are not required to cover services such as cancer and heart screenings. Providers and insurers react to the ruling.

The American Medical Association (AMA) expressed concern and disappointment over the recent ACA ruling on preventive care, while AHIP emphasized coverage won’t be immediately affected. AMA president Jack Resneck Jr. said in a statement that the physician association “is alarmed by today’s deeply flawed court ruling in Texas” and decried the decision.

“Providing insurance coverage for screenings and interventions that prevent disease saves lives—period,” Resneck said. “Invalidating this provision jeopardizes tools physicians use every day to improve the health of our patients.” Meanwhile, AHIP president Matt Eyles stated that patients will continue to have preventive services covered as the appeal process plays out.

“Every American deserves access to high-quality affordable coverage and health care, including affordable access to preventive care and services that help avoid illnesses and other health problems,” Eyles said in a statement. “As we review the decision and its potential impact with regard to the preventive services recommended by the United States Preventive Services Task Force, we want to be clear: Americans should have peace of mind there will be no immediate disruption in care or coverage.”

Loss of coverage for preventive care could have serious consequences, according to a recent survey by Morning Consult. If O’Connor’s ruling holds up, it could result in patients skipping or delaying necessary care.
Read more. 

CROSS SELLING:

5+ Ways to Increase Your Insurance Sales in 2023

Selling to existing customers is the golden key
By Alex Strautman, Word & Brown
Read full article here.

Looking for Organic Growth

Here’s how: Consistently deliver the right message to the right audience
By Paul Seegert
Read full article here.

FEATURED EVENT:

LAAHU’S ANNUAL SYMPOSIUM is one of the largest in the state. attracting well over 500 attendees.

Professionals working in the Southern California health insurance sector have access to the best networking and educational opportunities.

Come to connect with others and gain knowledge from renowned speakers.

REGISTRATION NOW OPEN :

LAAHU 2023 Annual Symposium –

Pasadena Convention Center. April 25, 7am to 5pm PST
Info: 800-676-1628. Register here.

INDUSTRY CALENDAR

• April 18 @ 1:30-2:30 pm PST, CAHIP Medicare 101. Register
• April 13 @ 10 am PST, NABIP ACA and Beyond Certification Primer. Register.
  NABIP offers ongoing virtual trainings. More info: www.nabip.org.

CONFERENCES

• April 10-12, MedicareCon, Las Vegas, NV. Register 
• April 11-14, Virtual Fourth National Medicare Advantage Summit by Global Health Care, Virtual/Online; Harvard Health Policy Review, Health Affairs and Inside Health Policy. Registration@hcconferences.com. Register 
• April 21/23 @ 2:00-6:00 pm PST, Dancing With the CAHIP-SD Stars, Four Points by Sheraton San Diego. Register
• April 25 @ 7 am-5 pm PST, LAAHU 2023 Annual Symposium, Pasadena Convention Center. Info: 800-676-1628. Register
• May 8-10, CAHIP Capitol Summit, Sacramento. Register
• May 16 @ 8:00 am-3:00 pm PST, 32nd Annual IEAHU Sales Symposium E3: EARN; ELEVATE; EVOLVE. Register 
• May 18 @ 7:30 am-2 pm PST, CAHIP Desert Cities Health Care Summit, Palm Valley Country Club Palm Desert, CA. Register