Insurance Capture and Verification: The Secret to Saving Billions

The flaws of the American healthcare system are often discussed. The US system wastes up to $850 billion per year on errors and inefficiency. A quarter of all spending on payment processing in healthcare is wasted on pricing failures and administrative complexity. Given these issues, it’s no wonder so many citizens dread going to the doctor. People and politicians wrestle all the time with how to fix the healthcare system in America.

One practical solution that can save billions is AI-enabled workflow automation through insurance card scan. Many of the errors and inefficiencies discussed above relate to manual insurance intake and verification. The wrong intake or identification information for a patient can cost hefty sums to fix. Meanwhile, artificial intelligence is capable of accurately capturing, decoding, and verifying insurance coverage in less than 20 seconds. Insurance benefit verification can save the average medical practice up to $4500 a month. 

Professionals, office staff, and patients all benefit from digital insurance capture. Healthcare professionals can eliminate the misapplication of insurance benefits and recommend affordable care plans more easily. Office staff can speed up their claims process without introducing new errors. Patients know what they’ll most likely have to pay ahead of time and can plan accordingly.

Source: OrbitHC

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