To Build or Not to Build? A Guide For Insurance Card Capture & Benefit Verification Automation

Today, the large costs of health insurance errors underscore the critical need for efficient verification systems. Manual procedures are unsustainable, resulting in $262 billion lost yearly due to denials and high costs per claim.

Challenges with Current Solutions

Time and resources are wasted using inefficient, high error rate traditional technologies like OCR intake and paper-based systems. The accuracy with which payers and plans may be identified from a variety of image sources is typically lacking in existing digital systems.

Building Your Own AI-Enabled Solution

Although creating a custom insurance capture system gives you control and customization, it is expensive and complex. The investment is substantial, possibly needing millions of dollars upfront and necessitating frequent changes, ranging from infrastructure and personnel requirements to constant maintenance and compliance.

Advantages of Purchasing a Ready-Made Product

Choosing an insurance verification automation system that has already been created, offers instant integration and financial savings. Organizations may start quickly validating insurance, saving up to 60% on operating expenses and increasing efficiency, with committed assistance and quick deployment. They support a variety of image sources, including referral letters and online wallets, and go beyond simple data extraction to validate and verify coverage in real-time. 

In conclusion, purchasing a specialized system is an appealing option for current healthcare providers since it provides instant advantages of cost savings, efficiency, and increased capability.

Source: Orbit Healthcare