There currently exist many challenges of time, money, and accuracy involved with traditional insurance processing methods. The current methods are outdated, and the pitfalls of denied claims can be costly. There are many reasons as to why our current methods are ineffective, emphasizing why there is a dire need for technological improvement.
Some of the main contributors to these problems involve human error. First, much of conventional insurance processing requires human expertise which leaves room for human error. Also, location complexity of different insurance companies can cause problems as well. Finally, most current solutions cannot identify any plan information that is not physically printed on a card. This limits the speed and efficiency of providers, especially those that are busy and popular.
Experts agree that an AI-powered solution for health insurance card capture is the best way to overcome human limitations in insurance processing. These new methods are faster, more reliable, and offer many more benefits than the current traditional methods in use. For example, it takes five to fifteen minutes to process insurance manually. However, with new AI technology, it can take less than five seconds to do the same job. Clearly, the time is now to make the switch, and development on these new methods are already underway.