What is a Commercial Dental Benefits SaaS Platform?
The market is shifting for commercial dental benefits plans as fewer consumers sign up for dental coverage through their employer. This trend, coupled with growing digitalization of health plans of all kinds, is causing payers to enhance or replace their existing core systems with technologies that offer more agility, greater efficiency and cost savings, and modern experiences for plan members. Find out about innovative dental benefits software as a service (SaaS) technology in this FAQ.
WHAT IS A SaaS DENTAL BENEFITS PLATFORM?
It is a web-based dental benefits management application offered through a SaaS (software as a service) arrangement. These platforms allow payers to automate every aspect of dental benefits management and compete more effectively in the complex healthcare environment. While some platforms offer dental benefits as a secondary product to medical benefits, others are purpose-built for dental. A SaaS dental benefits platform can be a strong choice for payers that have the resources to manage their benefits administration and business operations internally, and need more versatile technology to handle growing benefits complexity and be more competitive.
WHAT SHOULD I EXPECT FROM A SaaS DENTAL PLATFORM?
Modern dental benefits platforms automate every aspect of dental benefits management, from claims payment, premium billing and utilization management to regulatory compliance and fraud detection.
SKYGEN’s platform in particular offers:
- Web-based self-service tools for payers, members, providers, employers and producers
- Highly configurable user-driven design
- Scalable and secure solutions
- High volume, automated claims processing with auto-adjudication rates as high as 98%, faster claims payments and minimal manual intervention
SKYGEN SaaS Dental Benefits Platform Capabilities
WHEN DO I NEED A SaaS PLATFORM FOR DENTAL BENEFIT ADMINISTRATION?
Here are some of the business reasons commercial dental plan payers consider as they explore transitioning to a SaaS dental benefits platform:
- Ready to grow into new dental and vision markets but are limited by the existing system
- Existing system is a medical benefits platform that limits its ROI for dental
- Desire to become more data-driven and access sophisticated analytics
- Interest in moving to multi-channel digital engagement with members
- Interest in improving provider satisfaction and streamlining interactions through electronic relationships with providers
Another important reason to consider a SaaS arrangement is future-proofing the business. A SaaS platform that grows and adapts with the market enables payers to respond more effectively to changes in the business environment.
HOW DOES A SaaS BENEFITS PLATFORM CREATE COST SAVINGS FOR PAYERS?
Fully digital administrative workflows create significant cost and time savings for payers. Choosing a SaaS reduces upfront technology investments. In addition, it allows IT teams to refocus resources on business priorities, and cuts down on call center volume.
HOW DOES A SaaS PLATFORM ENABLE DIGITAL RELATIONSHIPS?
It offers modern, self-service digital products like mobile apps and web portals that enable members to use their benefit plans with ease and speed, whenever they’d like to. Web portals for providers streamline interactions and offer digital tools that make it faster and easier for providers to manage the administrative portion of their business.
Digital Engagement Tools
HOW DOES A COMMERCIAL DENTAL SaaS PLATFORM ENABLE GROWTH?
A SaaS platform gives payers greater capability and control to expand into new markets with pilot products to capture new consumer segments. They’re able to automate dynamic products ranging from escalating benefits to value-based programs, and group rating and quoting. It can also drive improvements in data quality, and offers tools for analysis of networks, provider quality, and fraud, waste and abuse.
HOW DOES A SaaS PLATFORM INTEGRATE WITH OTHER PAYER BUSINESS SYSTEMS?
A modern SaaS dental platform enables real-time integration through APIs and automated and scheduled file feeds. It also delivers data interoperability through a near real-time data warehouse.