Did you know that the United States healthcare system loses up to $850 billion per year on errors and inefficiency? Many of these errors stem from incorrect insurance information, which can be a costly mistake for medical professionals and patients alike. Insurance card scan and insurance cards in general don’t have a standard format, which can make coverage verification difficult. This can lead to patients being overcharged for their medical visits, and can waste lots of time for medical office administration in trying to fix these errors. In some instances, mistakes can lead to fraud cases and providers lose up to $30 billion per year due to error-ridden work.
Some online applications are working to solve these issues by using technology to decode and verify insurance coverage with higher accuracy than humans. With more advanced technology taking over the process, hospital staff has more time to tend to patients, providers can save on lost revenue, and patients can ensure they are being charged the correct price for their medical services. Learn more about how technology can solve insurance verification issues in the infographic below:
Infographic by: orbithc