Welcome to our podcast, where we discuss the impact of OCR in insurance claims processing.
OCR technology has revolutionized the insurance industry by making claims processing faster and more efficient. A study found that manual claims processing takes up to 14 days while automated claims processing can take up just a few hours.
In this podcast, we will discuss how OCR technology can be used to extract data from claims documents and the benefits of using OCR for claim processing.
One of the key functions of OCR is its ability to extract data from claims documents automatically.
First, let's discuss how OCR technology works. The claim documents are received, OCR technology scans and interprets text from the scanned documents or images. It can identify and extract text from these unstructured claim documents. Once the text is extracted, OCR technology can use machine learning algorithms to identify and classify the data and route it to the appropriate department for further processing.