Computerization of Actual Loss Insurance Claims⁤ to Begin Next Month

Financial Services Commission Meeting

Computerization of claims for actual loss​ insurance will be implemented starting on the 25th of next month, but the number of hospitals that can implement it right away is not large.‌ The authorities and the industry plan to devise​ incentives to increase participation.

The Financial ⁤Services Commission announced on⁢ the ⁤12th that it held ‌a ‘Meeting‌ on Computerization of⁢ Real ‍Loss Insurance Claims’ ‌with the ⁤Ministry of Health and Welfare, EMR companies, insurance industry, and the ​Korea ⁢Insurance Development⁣ Institute to review the progress of computerization ⁣of real loss insurance claims and discuss various opinions on expansion plans. ‌EMR refers to medical records, etc. that medical professionals ⁣create and store as ⁣electronic documents.

Computerization ‍of actual loss insurance claims will be implemented starting from the 25th of⁤ next ‍month for 7,725 medical institutions. Once‍ computerization ⁢of actual loss insurance claims is implemented, instead of⁢ having to go to the hospital every ‌day ⁣to get supporting documents, you‍ can‌ simply request⁢ the hospital to send​ the supporting documents to the‌ insurance company through an application, and the documents will⁢ be automatically sent to the insurance company, making it easier to​ file an insurance ​claim.

As of now, a total of 3,774 nursing facilities (48.9% participation rate) have confirmed their participation. Of these, 283 hospitals (3.7% participation rate) will immediately implement computerization ‌of actual loss insurance claims starting ⁤October ⁤25.

Other medical institutions (3,491 including public health centers) will‍ be sequentially reorganized ‌with a time difference due to⁣ issues such as⁤ the schedule for ​reorganizing their ​own ​systems‌ and the‍ concentration ​of the same system. The public health center is scheduled to be completed in the first quarter of next year.

One reason for ‌the low participation ​of hospitals is the low ⁢participation of EMR ‍companies, which are‍ essential links ⁢in the computerization of real-life insurance that transmit information from hospitals to transmission agencies and insurance companies.

Health authorities ⁣in⁤ attendance ⁤said they would consider providing incentives⁣ to nursing homes​ that participate ​in computerizing claims for medical⁣ expenses.

Kwon ⁢Dae-young, director of the Financial Services Commission, said ⁤that ​although⁤ various ⁤sectors have been working on the smooth implementation of computerization of real loss insurance claims, there are still some shortcomings.

Director Kwon said,‍ “In order to computerize the claim processing of insurance claims,⁣ cooperation⁢ with‌ EMR companies is important, as it requires cooperation between transmission agencies and EMR companies.” He added, “Financial authorities, the ‍insurance‌ industry, and EMR companies ‍have been discussing ⁢appropriate cost levels and have‍ made some progress.”

He continued, “Due to the nature of the ‌business ⁣that is just starting out, ​it is difficult to estimate​ the level of future costs, but ​I ask that the ⁢two industries quickly coordinate their final opinions to improve public ⁢convenience.”

The EMR‌ company‌ said, “We will⁢ cooperate as a public service ‍project,‌ but since the EMR company is a private business, appropriate ‍cost payment is ⁢necessary,‍ and we ‌plan to consult with the insurance industry as soon as possible.” The company added, “Compared to​ the existing medical sector electronicization project, ⁣the schedule for computerizing actual loss insurance claims is too fast, so it is necessary to realistically consider a gradual expansion.”

The Financial Services Commission ⁣plans to continue to strengthen publicity and communication with the medical⁢ community and ‍EMR‌ companies to expand the participation of⁢ medical ⁣institutions ahead of​ the‍ implementation of computerized claims processing for non-life insurance.