Organizations must choose between developing their own automation system or partnering with a vendor. Building an in-house solution presents risks such as high costs, long development times, complexity, and potential issues like errors or cyberattacks. However, it allows for full control and the ability to tailor workflows to specific needs.
Alternatively, purchasing a system from a vendor reduces some of these risks but requires careful vendor selection to ensure compatibility and satisfaction. In this context, Orbit emerges as a compelling option. As a sophisticated AI-powered solution, Orbit offers a blend of speed, accuracy, and user-friendliness.
Deciding to automate insurance verification is crucial given the high costs and inefficiencies associated with current manual systems. Annually, insurance denials result in $262 billion in losses and add $30 to $71 in extra expenses per claim. Outdated methods for capturing and verifying insurance information often fail to meet modern demands for accuracy and speed.
In making the decision, it’s essential to balance risks and benefits in alignment with your organization’s goals. Orbit provides a strong middle ground by offering both control and customization while delivering a tested, reliable solution through a benefit verification automation system. This approach allows organizations to leverage advanced technology without the extensive risks and challenges associated with building a system from scratch.
Source: Orbit Healthcare
