Healthcare providers have a somewhat difficult process to go through when it comes to the insurance capture and benefit verification process. Ensuring the correct information, properly submitting it to the carrier, and checking on the status can easily slow down, if not complicate a simple claims process. In fact, it often costs providers north of $262 billion in denied claims.
Unfortunately, a large part of the problem comes from the insurance capture process. Traditional methods of paper and clipboard notes or digital intake leaves large portions of human error to cause mistakes. As a result, we see the astounding figures in denied claims annually. To help cut down on this issue, we need a smarter way to capture insurance information.
While you could build your own systems, it is at the expense of a large capital outlay and time commitment. Instead, you could purchase insurance capture systems which are less resource-intensive and easier to implement. Fortunately, this is where companies like Orbit come in. Orbit provides insurance capture systems with both credibility and reliability. With real-time data management, it can read a variety of insurance card formats and saves businesses 40% to 60% of current costs on average. Whether you want to reduce insurance denials or expedite your insurance claim process, Orbit can help boost your business.
Source: Orbit Healthcare