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It's time to go from manual processes to digital transformation
When you’re responsible for millions of members and thousands of providers, your provider data systems and processes must be top-notch to ensure timely, accurate claims management.
Incorrect or missing provider data causes major headaches and costs millions. Inaccurate claim pricing leads to manual rework in the form of hours spent reconciling errors and re-processing.
That not only drives up operational costs, but contributes to a less-than-satisfactory provider experience - and consequently a poor member experience, too.
That's why Launch partnered up with a Fortune 50 healthcare insurer to improve data integrity, streamline and automate processing, and increase data-driven insight.
We’re bringing provider data solutions to LITE
Our client needed a solution for these provider data challenges to restore providers’ trust in their data and, ultimately, transform the provider experience. The solution our Data & AI Studio came up with: an AI-enabled tool called the Launch Intelligent Text Extractor (LITE), living in a Snowflake Data Cloud.
LITE and Snowflake helped accelerate data ingestion, enrichment, and matching by automatically linking and validating data within a data quality framework that’s driven by great fundamental AI tools:
- Optical character recognition (OCR)
- Natural language processing (NLP)
- Natural language understanding (NLU)
- Machine learning (ML)
Basically, LITE mines documents for specific information it’s learned to recognize, reading, and transforming raw data into a structured format. That standardized format makes it possible to match and link records, validate information, score and rank confidence in each data point, and leverage ML to identify anomalies and autocorrect common errors.
For our client, that meant 70% fewer person-hours required to do manual benefits configuration.
A good prognosis for provider experience
So, what happened?
We helped create a clear path toward a better human experience with technological tools that increase provider data quality and accuracy. This dramatically reduced the need for manual intervention by surfacing low-confidence records for attention and taking care of the rest automatically.
But it’s not only about streamlining data processing operations. LITE also enabled:
- Improved data management
- Overall data enrichment
- Cost-effective, real-time analytics through ML and the Snowflake platform
- A data visualization and analytics portal
All this means that LITE empowers this national company to truly USE all that data they collect and process. And best of all? The solution paid for itself in a matter of months.
Using these tools to fuel AI-first vision and growth
LITE is just one element of the holistic provider vision that Launch and our Healthcare Sector clients have partnered on. As Managing Partner Chad Holmes says, “There’s a huge opportunity at the intersection of people and data to drive more value and improve the human experience.”
This client embraced and internalized the fact that better data not only saves time and money, but prepares the organization for whatever comes next in a transformation journey, especially as we venture further into the age of AI.
The Launch Intelligent Text Extractor and Snowflake Data Cloud have since helped this client navigate and rapidly deploy cost-effective solutions for:
- Predictive analytics, creating a foundation for informed decision-making
- Intuitive, insightful provider contract data
- User-friendly applications that help create better employee and customer experiences
- Mastering interoperable provider data for claims management