The Companies We Keep: Creating Value Through an Affiliate Strategy
Oct 3, 2018
Editor’s note: Andrea Overman, director of product and data management at EnvoyHealth, contributed to this post.
Manufacturers have been forced to choose a ‘buy’ or ‘build’ solution. You deserve better.
In this age of incredible healthcare innovation, new medicines, technologies, and data strategies emerge every day. These innovations can help the healthcare team ensure the right treatment at the right time — improving life for patients and their caregivers.
But harnessing innovation to create the best experience for patients and providers — especially through manufacturer services — can be challenging.
- A “buy” solution: Acquire technology that delivers commercial copay, electronic benefits verification (eBV), and electronic prior authorization (ePA) solutions.
- A “build” solution: Spend millions of dollars to stand up platforms for these services from scratch.
WHY CHOOSE A ‘BUY’ OR ‘BUILD’ SOLUTION?
Companies that build feel that nobody knows their customers better and don’t want to outsource a solution key to their business. They invest, often heavily, in creating solutions from scratch.
Unfortunately, this “build” approach often proves costly and ineffective.
Other companies believe they can expedite expansion into a new service line by identifying and integrating an existing market leader. This requires substantial effort, hopefully resulting in growth fast and large enough to pay off the investment. But with the “buy” approach, the market has often moved on before the service is stable and ready to serve customers.
But why settle for these flawed options? We see an easier path forward.
PIECING IT TOGETHER
EnvoyHealth uses an affiliate strategy for our service products and technologies. An effective affiliate strategy enables the best of the “buy” and “build” worlds. We identify the absolute best companies on the market, develop and implement an integration strategy, and offer services in a transparent and coordinated way.
We chose this approach because our proprietary platform enables more effective data integrations based on affiliate needs. Together, we bring a total solution that is better than the sum of its parts.
So far, this represents our solution to eBV, ePA, commercial copay, wearables, drug management apps, and artificial intelligence–driven texting. Tomorrow, it will mean the flexibility and capacity to add other emerging technologies to our affiliate network.
BRINGING A NEW PERSPECTIVE TO PATIENT SERVICES
The modern client is constantly searching for a differentiator in their market space. To provide real value, they must respond quickly to emerging technologies.
EnvoyHealth’s differentiator is our ability to assess and translate our partners’ visions — and to apply a services strategy that can make them a reality. This is achieved by a committed roadmap that includes active surveillance of the market — including conversations with our customers and thought leaders — to identify the best solutions to support patient access.
Our affiliate network covers more traditional technologies (eBV, ePA, artificial intelligence-based texting, etc.) and companies demonstrating proven value and thriving in digital health (e.g., wearables, apps, ingestibles). Our affiliates include experts in patient engagement (such as patient-journey mapping) and the delivery of services that improve the health experience and drive positive outcomes.
Our dedicated technology team makes the affiliate strategy work through the most flexible patient services system on the market: eNav. This proprietary system allows business owners to create content within days, not months, then place a service into production using the completed interfaces with our affiliates.
This allows EnvoyHealth to harness fresh technology almost immediately and deliver it through a proven customer-centric approach. This strategy brings a new perspective and improved experience to a patient services market aching for innovation.