How You Can Use OCR Systems For Your Insurance Claims Processing
Technology has evolved exponentially in the last decade, with it bringing many new solutions that automate and streamline the workplace. When it comes to insurance, OCR Solutions is able to bring the best of technology to make claims processing easier.
The Customer Experience for Insurance Claims Processing
Insurance claims in any industry are notorious for deteriorating customer experience. Delays in payment can easily arise from things like lost forms, a backlog of claims, and even inaccurate information that may have been keyed-in by a claims specialist. These issues are all the more common in an environment where dealing with insurance claims processing is purely a manual process.
Optical Character Resolution (OCR) alleviates sources of delay through digitization and data capture. Using a scanner, forms can be scanned into searchable/editable digital format such as a PDF. Staff workload can be drastically reduced by waving goodbye to the old method of manual typing/keying insurance claims forms. Employees can shift their attention to other important business processes.
Automation is Key
In a traditional environment, scanning/manual re-keying of data in processing claims has had a direct impact on accuracy, turnaround, and ultimately business productivity. OCR in combination with a powerful scanning solution allows a business to take a volume-based approach to insurance claims.
A scanner will capture and process images, and even convert documents into any popular digital format you choose. When you combine this with digitization and OCR, data on that document can automatically be extracted/verified for whatever further purpose desired. In terms of insurance, this data can be forwarded to whatever claims management system that is being leveraged.
Security is Improved
When digitization through a scanner is not available, critical documents may only be physically copied and most of the time can be vulnerable to loss or destruction. Whether there is a fire in a centrally stored location, documents are lost or misfiled, or even stolen- not having digital copies can have negative impacts on business.
Digital documents that have been scanned can be sorted through automation, and they can be backed up rather easily on multiple systems. Retrieval is easy as OCR allows for cataloging, indexing, and processing to happen autonomously based on selected information in forms, as well as form type. An even greater benefit is data can now be encrypted using strong algorithms to ensure data at rest/in transit is protected from prying eyes.
Reduced Costs, Improved Accuracy
Implementing a scanner with OCR can have long-lasting impacts in terms of improved business productivity, as well as reducing costs. Where-as a traditional environment might have data entry operators carefully reviewing claims and typing data into different systems, OCR scanners extract data automatically. Human involvement, in terms of manual processing and verifying, is drastically reduced.
Information extracted from insurance claims can be verified and validated through mathematical calculations, cross-field comparisons, as well as customer-specific rules to improve data quality and accuracy. This is crucial as any information that is misprocessed can lead to violations and even litigation. When manual processing is used for insurance claims, the potential for miskeyed/misinterpreted information is incredibly high.
Call Us Today!
We are an industry leader in the realm of Optical Character Recognition solutions and advanced scanner technologies. In an effort to modernize your firm or business, we will combine the best of technology with our expertise to bring you a solution that works best for you. If you have any questions, do not hesitate to contact us today!