Insurance card capture and benefit verification is a process in dire need of modernity. Even the newest systems, such as OCR intake, are becoming outdated, leading to shortcomings costing billions of dollars in denied claims. The old systems no longer offer the tools needed for success, leading experts to turn to AI benefit verification automation to remedy these problems.
Artificial intelligence enabled insurance systems can be built or bought, each choice coming with a unique set of pros and cons for one to weigh. Building a system offers a high level of ownership and personalization, but can incur higher costs, knowledge needs, time delays, and complexity. Buying a system sacrifices those proprietary rights, but comes with lower costs and greater overall rewards.
These decisions aren’t always easy, which is why many third party services are combining these benefits to create the best of both worlds. As artificial intelligence works to take the insurance industry to the next level, there is no shortage of ways to save time, money, and energy on information capture and verification.
Source: Orbit Healthcare
