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August 2013

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Help for Insurance Executives: Understand the Full Compliance Implications of Healthcare Reform

The core components of the Patient Protection and Affordable Care Act are set to take effect in the months ahead, but with so many new rules and regulations, how can insurance executives and chief compliance officers be sure they understand the law’s full impact?

Oracle is helping insurance professionals grasp some of the lesser-known ramifications of the Act with a new white paper, “Compliance Challenges Associated with Healthcare Reform: Managing Data, Documents, and Product Development for Market Advantage.”

As the paper points out, the recent regulatory changes of the healthcare act will change market dynamics and business models. This will increase the pressure on insurance executives to keep their products current and competitive. That means insurers must find ways to automate and manage the data, product development, and state filing processes that are part of these compliance challenges. Coupled with services from industry experts to assist in process re-engineering, the right technologies can provide a comprehensive solution to give insurers a competitive advantage in this volatile marketplace.

The first step toward addressing today’s challenges is for insurers to look at creating a cohesive, enterprisewide strategy for managing customer and channel communications. Next, companies should choose software solutions built upon an adaptive document automation and content management platform to support the strategy today and as requirements expand and change in the future. Two Oracle solutions serve these technology needs.

  • Oracle Insurance Compliance Tracker automates the entire filing preparation process by providing the latest filing requirements and forms and integrating directly with the System for Electronic Rate and Form Filing, ensuring up-to-date reports.
  • Oracle Documaker, Enterprise Edition enables enterprises to dynamically create, manage, and deliver enterprise content throughout the business lifecycle.

Learn the full implications of the Affordable Care Act by downloading “Compliance Challenges Associated with Healthcare Reform: Managing Data, Documents, and Product Development for Market Advantage.”
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