TORONTO--(BUSINESS WIRE)--Opifiny Corp, a leading provider of time-saving claims automation solutions for the insurance industry, today announced that more than 65% of the Canadian disability group benefits market and more than 50% of the country’s retail underwriting market are using the company’s platform as of December 2023. The newly released data confirms that insurers are eager to “axe the fax” and pursue more efficient digital solutions — an area in which many healthcare practitioners have shown reluctancy.
The Ministry of Health estimates that Ontario healthcare providers still send 152 million faxes per year, burdening providers with unnecessary work and encumbering the claims approval cycle. By doing away with paper and streamlining the collection of medical information, Opifiny’s customers in 2023 reduced their average medical information request turnaround time from 27 days outside the platform to just 10 days within the platform. In an encouraging sign for the healthcare sector, 50% of completed requests in the Opifiny platform are from healthcare providers who have used the platform before, demonstrating users’ ongoing recognition of the platform’s value after onboarding.
Gabriel Tick, CEO of Opifiny, expresses a deep understanding of the challenges faced by both healthcare providers and insurers: “The inefficiencies in our disability claims system not only squander valuable time for healthcare professionals but also increase costs for insurers and cause undue stress for individuals in already difficult times. We are heartened to see Canadian insurers embracing our digital solution with open arms. A more compassionate and efficient approach is not just possible… it is here. We stand committed to easing this journey for healthcare providers and insurers alike..”
Additional encouraging signs in the data include a 300% year-over-year increase in the number of claims sent. This represents thousands of additional hours saved by the group benefits market with Opifiny’s automated workflow over 2022.
About Opifiny
Opifiny Corp is the leading provider of cloud-based technology for automating medical data collection for claims processing. Enabling doctors and patients to securely access and upload relevant information from any computer or mobile device, Opifiny eliminates ambiguous paperwork and processes, cutting the claims processing timetable by more than 60%. Founded in 2021, Opifiny has to date securely automated the processing of tens of thousands of medical information requests.
