Case study

Transform Claims Processing with Intelligent Document Processing and Automation

Overview

Today, insurers are under increasing pressure to accelerate business
processes and keep customers loyal and engaged. The challenge is
that many of these processes, especially claims, are still being
manually processed, resulting in slower-than-expected
response times because the data is not easily accessible.

Digitization with the right automation tools will enable insurance
companies to not only create a data-driven strategy and meet
compliance regulations but it will boost their customers’ experience with the ability to expand their services and overall lifecycle.

93%

Agree that success in insurance is now dependent on moving to new models enabled by the digital revolution.

48%

Rate their organization digitally immature and requiring significant effort
and attention.

60%

Of surveyed insurers say they are inadequately prepared for the coming wave of data-driven convenience and the new business models and ecosystems that will go with it

34%

Of insurers expect to have fully migrated away from legacy systems even two years from now.

Legacy systems are slowing insurance organizations down. The typical process includes:

1.  Intake and capture documents from lockbox, MFPs, files, fax, email, mail and scanners

2. Manual document sorting for batch scanning Avg time : 30–2 mins per insurance correspondence

3. Manual batch scanning to scanning software Avg time : 30–2 mins per insurance correspondence

4. Staff manually reviews scanned image (PDF) in scanning software to determine document type and work queue Avg time 1–3 mins per insurance correspondence

5. Staff manually generates document ID in EHR for scanned image (PDF) Avg time 1–3 mins per insurance correspondence

6. Staff manually renames scanned image (PDF) in scanning software with EHR document ID Avg time 1–3 mins per insurance correspondence

7. Batch sync with EHR & ECM to process files with document ID

8. Images are viewable in EHR & ECM; insurance documents are linked to patient information

9. Export into work queues: collection, order approval, denial letter or exception queues

Automated insurance claim workflows are simpler and faster

    1. Intake and capture documents from lockbox, MFPs, files, fax, email, mail and scanners

    2. Automated classification, extraction and indexing

    3. Automated patient information matching

    4. Patient information linked in EHR & ECM Avg time several seconds per insurance correspondence

    5. Export into work queues are 95% automated: collection, order approval and denial letter queues; 5% human touch: skip and exception queues

     

    Agile, Rapid and Proven

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