There are billions of dollars withheld every year from average people through denied insurance claims. Many of these are completely justified. Often when submitting a claim people won’t have the proper coverage, or there will be something questionable about the situation. Although about 30% of the time, denied claims are due to simple errors.
These are errors that come from people messing up at some point in the process. Sometimes people won’t know all the information required to submit a claim properly. Other times people will physically mis-input the information needed. Another issue is that the claim will be submitted to the wrong locality. And then, even if there is no human error on the submitters side there could still be an issue with the coverage being misinterpreted on the payer side.
All of these are feasible and common issues causing insurance claim denial. They’re also all issues solved by technology. More specifically, they’re solved by AI-powered card capture readers. Already today there are digital card readers that are great at reducing incorrect inputs by humans.
For a lack of expertise, for example, AI-powered card readers have the unique ability to recognize plans. The AI for these readers is trained explicitly on insurance plans and payers and can recognize missing information. In the same vein, they can also recognize the right place to submit a claim.
Finally, these AI card readers save lots of time and money on the payer’s side. Including helping decrease some of the monotonous work that creates burnout in employees. Now, coverage can be verified and processed entirely through AI technology, with minimal human input. This is massive in reducing denied insurance claims, and more importantly, improperly denied claims.