The market for health insurance faces many obstacles. One of their biggest financial challenges is the $71 billion in claims that are rejected each year because of mistakes made while registering patients. A lot of this is due to human error, because it can be difficult to locate the required information such as insurance payer, payerID, and details about claims submission. It is not readily available on insurance cards, which drives the 19.3% error rate on submitted insurance information. Artificial intelligence (AI) presents itself as a viable remedy to these problems. It is trained on datasets of thousands of insurance payers and plan types to be able to quickly identify and validate information. AI processes information far faster than humans do—five seconds as opposed to fifteen minutes. It also has the ability to reduce monotonous activities for human employees instead of replacing them, which might reduce employee burnout in the healthcare sector and promote a more balanced work environment. Check out more about health insurance card OCR capture with AI below:
Infographic by: orbithc
