AXA Chooses Microsoft As Strategic Telehealth Partner
Two global business leaders join forces to launch a large scale virtual health platform
Paris-based financial services and insurance giant AXA (OTCMKTS: AXAHY) has selected enterprise technology leader Microsoft (NASDAQ: MSFT) as its partner to build a full-strength telehealth program for its clients and their members.
AXA is one of the largest health insurers in the world. Its plans provide medical coverage to more than 105 consumers and patients in 57 countries. AXA generated about $117.5 billion in sales during 2020.
Microsoft and AXA are developing a vast telehealth platform
AXA has no small plans for its telehealth initiative. Their collaboration with Redmond, Washington-based Microsoft will result in a robust virtual healthcare service that supports the needs of its diverse global customers.
A list of AXA’s telehealth services and clinician support elements featured in their project includes:
- Consumer-patient wellness self-assessment
- Clinical/medical documentation storage and access
- Directory of contracted medical professionals
- Health and wellness risk prevention resources
- Home healthcare support functionality
- Medical concierge
- Population health and clinical research data services
AXA will use the platform to serve its clients and plans to market it to other healthcare insurers, managed care organizations or healthcare provider organizations to operationalize their telehealth programs.
Microsoft is steeply escalating the growth of its healthcare industry business
AXA recognized that Microsoft is relied upon by numerous consumer, business and medical community stakeholders for clinical and commercial healthcare needs. In the last 18 months, Microsoft has multiplied its already vast healthcare resources through several strategic actions.
It recently acquired telehealth technology innovator Nuance Communications (NASDAQ: NUAN) for $19.7 billion. The Nuance Communications portfolio of healthcare technology supports live telehealth capabilities and serves as a virtual assistant to medical professionals and their staff plus a broad range of other features that are valued by payers and healthcare provider organizations.
Microsoft has fortified its ability to stay ahead of the continually growing demand for greater data performance in the healthcare industry. It launched Microsoft Cloud for Healthcare in 2020 and achieved more than $143 billion in sales over the course of the year.
2020 also saw the company working with managed care organizations such as UnitedHealth Group and launching a global healthcare artificial intelligence initiative.
AXA’s healthcare insurance serves a variety of customers
Numerous organizations rely on AXA for their healthcare benefit plans. AXA is well equipped to manage a broad variety of medical risk management. A list of AXA healthcare insurance markets and services includes:
- Small, medium and large businesses
- Inter-Governmental (IGO) and Non-Governmental Organizations (NGO)
- International health insurance
- Short term health insurance
- Student health insurance
The AXA Select medical provider network operates in more than 140 nations and contracts directly with approximately 1.4 million medical professionals and healthcare provider organizations.
Telehealth is now a standard in the healthcare industry
The combination of the global COVID-19 pandemic and explosive growth of mobile technology innovation has established telehealth as a regular form of healthcare delivery in terms of medical and behavioral consumer wellness needs.
Numerous healthcare business and technology enterprises are charging ahead with telehealth programs including Amazon, Apple, Blue Cross Blue Shield plans, Google, Cigna and others. They are being developed organically, through partnerships as well as by telehealth mergers and acquisitions.
The tandem of AXA and Microsoft offers significant value in telehealth that will benefit consumers, patients, medical professionals, employers and investors.
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