How Claims Processing Software Has Transformed the Medical Benefit Industry Over The Years
A
decade ago, processing an insurance claim was a labor-
intensive task. However, the increase in technology converted the process into a digital and automated phenomenon. Gradually, the majority of medical insurance companies, hospitals, and other related Third Party Administrators (TPA)started relying on claims processing software systems to process their claims. One question that always arrives in the mind of an individual while signing insurance papers is, will the insurance company pay the claim? To all the sceptical people who doubt if investing in an insurance policy can be helpful, the short answer is yes. According to the studies conducted by ASIC and APRA, more than 90% of claims are paid successfully.