Capture is the Engine that Drives Productivity for Insurance

Insurance companies were among the first to embrace scanning and document management to help control costs and streamline their operations, which depend on the ability to rapidly and accurately process claims and policies.  Insurance companies use Datacap capture software to scan and process the full spectrum of insurance documents. Many respected insurance companies, including The Hartford, Rain & Hail, KC Life and a diverse selection of BlueCross organizations, have chosen Datacap to help them capture policies, applications, claims and enrollments.  Datacap Taskmaster's complete data capture and forms processing solution can easily handle a wide variety of document types.

Key Document Processes That Benefit From Capture Solutions

CMS 1500 and UB-04 Medical Claims - Medical claims processing is one of the key areas where insurance companies are measured in terms of customer service and competitiveness. Datacap Taskmaster for Medical Claims automates the data entry required to pay CMS 1500 and UB-04 claims promptly and accurately and delivers data in HIPAA-standard formatting to adjudication systems for prompt payment. Claim images are automatically indexed and stored for the requied seven years on any imaging repository.

Applications, Policies, Contracts and Enrollments - These documents represent the history of transactions between insurance companies and their customers and must be carefully held for the life of the relationship and sometimes well beyond. Capture accelerates the transformation of documents into electronic form for efficient storage and retrieval.

Inbound Invoices – Performing manual data entry of invoices into accounting systems or ERP systems may be one of the most tedious and time-consuming aspects of the manufacturing industry.  An e-payables solution that uses scanning and recognition to match vendors to a Master Vendor File and automatically extract invoice data - including line items - can significantly reduce cost, raise accuracy and help an organization better manage its cash position.

The Value of Capture for Insurance

• Reduced errors on data input
• Reduced costs for error location and correction
• Reduced processing costs
• Reduction in FTEs required to perform data entry
• Improved cycle times and accuracy