“The market is rapidly changing with new players coming in led by young techy types starting TPA operations incorporating the latest AI based technology. How are you keeping up with this? I asked
“They don’t know our business!” smirked the aging legacy TPA representative.
Such is the mindset of legacy TPA’s mired in the present past.
What the TPA representative fails to recognize is that the erosive effects of complacency in a dynamic and fast changing environment is both illogical and dangerous to their survival. Their failure to react quickly and appropriately to market trends is to the advantage of the young techy types who see little need to build upon the old but rather the necessity to build upon the new.
The challenge facing legacy TPAs is to understand the necessity to continuously respond to market forces in a proactive manner since competition led by the young techy types will certainly become a factor to consider at some point. To ignore this basic business premise by remaining complacent is business suicide.
Old Legacy TPA Lives Out His Final Days In The Wonderment of Yesteryear
The coming extinction of legacy TPAs is purposeful, not accidental. The rise of New Era TPAs is just beginning.
