Processing Insurance with Artificial Intelligence

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.

 

The Smarter Way to Capture, Verify, and Process Insurance with an AI-Powered Solution
Source: OrbitHC

Releated

Shalom Lamm

The Power of Giving: Shalom Lamm’s Insights on the Impact of Non-Profit Donations

In a world where the challenges facing communities are vast, the importance of charitable giving cannot be overstated. Whether it’s providing support for local initiatives, advancing medical research, or offering relief to those in need, non-profit donations play a crucial role in driving positive change. However, the impact of generosity goes beyond just monetary contributions—it’s […]

When Art Truly Imitates Life: The Journey Of Award-Winning Filmmaker and Artist Ari Kim

By Mary Stone On Thursday, January 16, 2025, Galerie Shibumi in Chinatown will unveil “Mae-Deup (매듭),” a new exhibition by artist and award-winning filmmaker Ari Kim. “Mae-Deup” is a Korean term meaning “knot” or “connection,” and it reflects the traditional Korean art of decorative knotting, historically believed to symbolize the bonds that tie people together […]