VentureBeat January 26, 2022
In health care, the process of underwriting and claims analysis can be both labor-intensive and error-prone. Claim adjusters and underwriters are often required to read and carefully parse hundreds of documents per case. Each year, the insurance market invests an estimated more than $3 billion in work hours devoted solely to collating and summarizing medical records.
A 2006 U.S. National Institutes of Health study identified several major challenges in researching medical records, including assessing the quality of data and combining data from companies with dissimilar coding systems. (Medical coding entails extracting billable information from the medical record and accompanying clinical documentation.) But AI — specifically natural language processing (NLP), the subfield of AI concerned with language data — could offer...
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