Business
Trupanion™ AI Technology Empowers Pet Parents with Lightning-Fast, Direct Hospital Payments
Built on proprietary, cutting-edge technology, Trupanion's award-winning software can process a member's invoice at the hospital in just five seconds.
About this update from Trupanion, Inc.
[{"type":"text","content":"Built on proprietary, cutting-edge technology, Trupanion's award-winning software can process a member's invoice at the hospital in just five seconds. \nSEATTLE, Aug. 9, 2023 /PRNewswire/ -- Trupanion, Inc. (Nasdaq: TRUP), the leader in medical insurance for cats and dogs, announced today a milestone that will have its members and the veterinary community alike celebrating. Trupanion now automates over 60% of invoices submitted through its free, patented, web-based vet portal, providing lightning-fast invoice processing and direct payments to veterinary hospitals at the time of checkout. \nWith a demonstrated ability to pay an invoice at time of checkout in just five seconds, Trupanion couples the fastest veterinary invoice processing time and highest degree of veterinary invoice automation of any pet insurance company in North America. This quick and efficient payment process brings much-needed relief to pet parents, allowing them to focus on their pets' treatment and well-being rather than worrying about how to pay a medical bill. \n\"Trupanion has transformed the way pet parents approach veterinary care,\" said Trupanion President Margi Tooth. \"By removing upfront payments and using AI to eliminate cumbersome paperwork and wait times, pet parents can more easily say 'yes' to the treatment their pet needs, regardless of cost. In turn, this removes barriers to care and empowers veterinary professionals to practice their best medicine, unhindered by financial constraints. Happier vets can focus on what matters most: helping pets.\" \nTrupanion's patented, award-winning vet portal employs state-of-the-art artificial intelligence (AI) to replicate real-world policy decisions. Using a series of Machine Learning (ML) models trained on millions of claims processed by Trupanion team members, this proprietary technology covers a wide variety of claiming scenarios, ensuring accurate and efficient processing. \n\"Trupanion, through vet direct pay, is the first and only pet insurer that can pay a bill directly to the veterinary hospital at time of checkout,\" said Jacquie Mero, Trupanion Vice President of Claims. \"As many pet parents can't afford to pay the full cost of treatment out of pocket and wait for reimbursement, our ability to pay hospitals directly in real-time can often mean the difference between a pet receiving the treatmen...