Final answer:
The lack of insurance verification during check-in could lead to uncovered medical services, unexpected financial burdens for patients or providers, and unanticipated costs due to the imperfect information insurance companies have about individual risk factors.
Step-by-step explanation:
One possible issue that could arise if insurance is not verified during the check-in process is the potential for a coverage gap or denial of services. This issue could stem from the fact that the patient may believe they are covered when, in fact, their insurance has lapsed or does not cover the specific medical services provided. Additionally, the healthcare provider may render services that are later not compensated by the insurance due to ineligibility, leaving the patient or the provider with an unexpected financial burden. Individuals purchasing car insurance or life insurance generally know their risk levels better than insurance companies, which often face challenges in gathering comprehensive information about individuals' habits and risk factors. This imperfection in information flow can result in unexpected costs and difficulties in the event of an adverse event, highlighting the importance of insurance verification to mitigate such risks.