Automating an insurance card capture system is the next step for many healthcare providers. Although many are still using the traditional paper and clipboard method of getting information, it is vulnerable to human error when putting in a claim. In fact, around every 1 in 25 claims sees an error from this method. Similarly, digital intake and OCR are time-intensive and inaccurate, respectively. Ultimately, this means that the traditional methods of insurance capture are simply not efficient enough for the businesses of today.
So how can we bring businesses up to speed? Insurance benefit verification automation not only takes information more effectively but also verifies it with the health insurance carrier in real time. On top of that, they can accurately identify payers and plans from images, verify insurance benefits, and identify the coordination of benefits for a payer. However, getting an automated system is far easier said than done. Most healthcare providers can choose to create their own system or partner with a dedicated information capture vendor.
For the former method, building a system can take anywhere from $1M to $5M and years to finally reach a usable version. On top of that, having your own system means you’re solely responsible for making the system compliant with regulations and properly encrypting the data. Conversely, you can choose to partner with a vendor, who already has the system developed and an IT team ready to help you maintain it. While it is cheaper and easier, you run the risk of a poor vendor sabotaging your business.
Fortunately, Orbit offers a perfect compromise between the 2. Orbit offers credible and reliable systems that can capture insurance data in a variety of formats in various formats. On top of that, the automated validation, verification, and mapping of payer information saves both time and money for your business.
Source: Orbit Healthcare