Healthcare Providers Could Save Millions with Insurance Card Scan and Verification

Current practices in manual insurance intake and verifications are error prone. Be it lapsed coverage, incorrect payer information, or the wrong insurance information, errors cost global providers $30 billion every year. 25% of spending in payment processing is wasted on pricing failures and administrative complexity. Healthcare providers are shredding money with their flawed insurance capture procedures.

 

Automated insurance card scan and capture and verification can bring down billing errors. With the power of AI, a specialized OCR software can be trained to recognize insurance payer data. Insurance card information is extracted, verified, and confirmed without manual intervention. Businesses have 35% higher cost savings using automated solutions. 

 

Some automated processes take as little as 20 seconds to verify patient information, saving healthcare practices 3-5 minutes per patient. Patients benefit from the switch to automation as well. They suffer fewer headaches from mistakes in their billing and can see accurate cost and pricing models sooner.

Source: OrbitHC