Finding a non-traditional method to process and capture insurance information is long overdue. There are currently no effective established methods available, and denied claims continue to plague the industry in more ways than one. Challenges of time, money, and accuracy are a dime a dozen, making it clear the need for a better way to proceed.
There are four main contributors to the current problems with insurance capture. First, conventional insurance processing requires human expertise. At the same token, traditional capture is prone to human error, with the average error rate nearing 20%. There are also existing issues of location in regards to insurance companies. Finally, many current solutions cannot identify any aspects of a plan that are not printed on a card. All of these factors combined make for a very tedious and inefficient overall process.
Because of the current pitfalls of the traditional method to insurance capture, many are turning to artificial intelligence to develop better solutions. Early developments of such technologies are already trained on tens of thousands of insurance types and can easily identify many aspects of a plan. Thanks to a finely tuned algorithm, the benefits are endless in comparison to what is currently the industry standard. Learn more about smarter health insurance card capture with OCR API below.