Margin compression and how to deliver new products that are increasingly complex, in an efficient way. Those are two key points made at a recent virtual event hosted by HousingWire and sponsored by us, Parascript. We also found that the pandemic did a lot to highlight the process issues associated with lending including the increased […]
In order to refresh your memory… here are Part 1 & Part 2. In this last part 3 covering the issue of training samples, we come to the most complex part of the process of curating training sets – High Variance document types. Looking at the Explanation of Payment (EOP) document within insurance payments as […]
An interesting story of advanced analytics used not to fight fraud, but potentially to enable it, was highlighted when the Justice Department filed a civil complaint of fraud last week against both a health plan and its technology services provider. At the core of this complaint is the accusation that the technology services provider used […]
Last week I started a conversation on what template-less means and where it came from. There’s a lot of hype around IDP and the ability to address document automation without requiring the creation of templates that dictate exactly where needed data is found on a page. The reality is that templates if applied correctly, provide […]
Within IDP vendor marketing, if the use of “machine learning” or “artificial intelligence” take the top two spots, coming in a quick 3rd has to be the term “template-less”. The main gist that this use is meant to convey is that organizations shouldn’t have to spend time laying out the various data fields they need […]
I routinely like to juxtapose IDP software with other enterprise software mostly because the differences, while routinely neglected, are vast, and we’re not just talking about applications or features and functionality. When it comes to most enterprise software, emphasis is on user or process efficiency or introducing new capabilities to the business all of which […]
We recently participated in a virtual event with Mortgage Banker Magazine along with industry veteran Keith Mullen from Saxony Partners where we discussed the current state of “process confusion” and the immense costs in time and effort inefficiencies cause. For example, in commercial lending, the hoops and obstacles that have to be overcome are dizzying. […]
Fax machines – a relic of the mid-twentieth century yet they are still going strong due to the ease of use and relative security. Yet when it comes to fax machines within a document-oriented workflow, they present a significant impediment to automation. Nowhere is this more apparent than in healthcare where all manner of documents […]
What is the most important feature of an Intelligent Document Processing (IDP) product? Hint: You already know but you don’t spend enough time on it. Before I get to the point, let’s discuss how IDP software is different from most other enterprise software. Features & Functionality – The Hopeless Scorecard of Enterprise Software We’ve all […]
Everyone talks about AI (and more appropriately machine learning) as being the silver bullet to the challenge of achieving highly efficient business processes. And on the surface, the excitement and perspectives appear appropriate. After all, machine learning has the ability to see things in data that humans might never notice and automatically perform tasks with […]
In part one of this article, I covered several aspects that, together conspire to create a process nightmare when it comes to document-based information contained within attachments.
Earlier this year, Council for Affordable Quality Healthcare (CAQH) released their 2020 Index which measures the progress of adopting automation for a variety of administrative processes. The upshot is that billions of dollars are being saved by converting manual processes and the data they use into electronic transactions and 2019 increased savings by $20 billion […]
