Transforming how legal approaches medical records for claims with AI
In the legal industry, document processing for medical records as it pertains to insurance claims is often a long, tedious, and costly process.
In the legal industry, document processing for medical records as it pertains to insurance claims is often a long, tedious, and costly process. From research and analysis to insurance and medical document management and accounts payable invoice processing, the legal sector has had a need to handle important administrative tasks yet much of the processes remain largely unchanged. Reviewing a record can take anywhere from three to six months on average for a law firm, but review time varied greatly based on the case. These slow and outdated processes impact not only the legal firm, but the insurance companies, and the claimants. As a long-withstanding profession, it’s time for law firms to off-board tedious tasks and allow artificial intelligence (AI) to support their practice and processes in order to reimagine the claims space.
What is artificial intelligence?
The term AI, or Artificial Intelligence, was coined in 1956, but the improvement in algorithms, electronic data processing volume, and the advancement in computing power and storage has caused it to become popularized in the 21st century. Between 1950-1970, work with neural networks stirred the excitement for “thinking machines." From 1980-2010, machine learning expanded. Currently, deep learning has created breakthroughs that have driven AI expansion. AI allows machines to learn from experience and perform human-like tasks. From smartphones to cognitive document processing, AI provides humans with the freedom to focus on big picture ideas and worry less about minor details or administrative tasks.
How does artificial intelligence impact legal practices and processes?
AI is transforming the way that lawyers and paralegals accomplish their document workflow. Although AI is not vehemently noticeable, there are major key players in the industry benefiting from it. Lawyers can take advantage of e-discovery, legal research, due diligence, and litigation analysis through artificial intelligence to improve access to justice and their client-centered experience. There was a rapid adoption of legal technology and software during the pandemic.
The most important factor that has been revolutionized in the legal industry is document management and automation. Legal firms share 11% of their files externally and 9% hold sensitive data. Lawyers need a solution that enables the fast, easy, and secure sharing and processing of documents for their claimants and the involved third parties. As law firms begin the process of transferring paper documents to electronic document storage, AI can perform repetitive work at a fast rate, day or night, and without supervision or human error. AI analyzes data in a fraction of the time it would take a person to analyze the same record, ultimately increasing productivity.
How can Wisedocs' artificial intelligence in document processing impact a legal firm?
Insurance companies and claimants retain lawyers to represent them in court for medical claims. To complete this process, a law firm must review medical records to detect anomalies and form important points in their cases. Wisedocs allows legal firms to process medical records in hours - not days. The Wisedocs AI document processing allows for over 750 pages of medical records to be reviewed and organized in an hour. Wisedocs creates an automated, trustworthy DocList for every case you upload and allows for sharing cross-team securely. Spend more time on analysis and critique and less time worrying about processing and documenting medical chronology. Most importantly, so much time is wasted on duplicate documents. Up to 30% of each case can potentially be duplicated documents that paralegals have to sift through. Wisedocs identifies duplicated case file information and removes the content as needed. With more time to spend on clients and more money in your pocket, Wisedocs can transform your firm into a revolutionary establishment.
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