It is now more beneficial than ever for healthcare organizations to automate their insurance card capture system. Insurance errors and denials can cost healthcare organizations billions of dollars, and it does not help that older systems are unable to route the payer, validate the accuracy of the payer, and extract the plan from just the images among other essential processes. Today’s modern solutions are either building an AI-enabled insurance capture and verification system or buying one.
Building an insurance card capture system involves having a team that can update payer plans and mappings when they change as well as retraining the AI to adjust to the changes. Although there are risks of delays, high costs, and complexity, healthcare organizations are able to gain proprietary software and customization with their insurance card capture system. This also means there’s capital outlay and ongoing developments that need to be done, so if this is not viable, healthcare organizations can use insurance benefit verification automation. When buying an insurance card capture system, it can come with API subscription and transaction costs, but it can also save on support and employee costs, reduce delays, and save time for the entire team.
Healthcare organizations that desire customization and complete ownership will benefit from building their own insurance card capture system while those that want a ready-made solution will benefit the most from buying their insurance card capture system.
