There are currently no efficient methods on the market to capture and intake insurance. This is mainly due to challenges of time, money, and accuracy. Health insurance denied claims are far more costly than we realize, which is fueled by a number of outdated practices that we still hold onto.
Currently, conventional insurance processing requires human expertise. Location complexity of insurance companies has become an issue, as has current technology used to identify insurance information. Finally, traditional insurance capture is prone to human error, which further emphasizes our need for a better solution to OCR insurance capture with AI.
Experts agree that a true AI-powered solution is the best way to overcome human limitations. Early development of this technology is already changing the game. It is instantly able to identify key components like plan type, payer name, insurance type, and even full ID numbers. The best part? This identification can happen in real time. The benefits are abundant, making it clear that our move away from traditional methods of insurance handling is long overdue.