Virtual Insurance Payments for Providers and Workers Compensation
When payers use traditional processing methods, they can be plagued by high administrative costs, payment delays and duplications, manual errors, escheatment and lost EOBs. Trying to keep everything straight and cut down on rising costs can be a headache for payers.
For medical providers and injured workers, they find themselves frustrated with slow insurance payments, payment errors, and a lack of full-time support. MSA recipients want convenient access to their settlement funds so they can receive medical care.
DataPath is an end-to-end card and payment processor. Our cutting-edge payment solutions can help you reduce overall costs, provide secure transactions, and speed up the payment process.
Claims processing is complex and expensive. With multiple claims and EOBs to process for healthcare providers, payers find that manually processing insurance payments can be costly in both time and money.
DataPath Provider Payments is a virtual payment solution that simplifies and streamlines the payment and EOB delivery process. Provider Payments helps reduce fraud, payment errors, processing costs, and high administrative fees. Through our secure and convenient web portal, providers can access both the EOB and the payment information, and payments process within a couple of days.
Workers’ Compensation Payments with RenewCardTM
Indemnity payments account for approximately 40 percent of claim costs. With injury severity on the rise and duration of recovery lasting longer, the cost of workers’ compensation continues to rise. What’s more, an estimated 25 million workers are unbanked or underbanked. Payers need a way to ensure that injured workers get their funds in a timely manner while keeping costs under control.
RenewCard is a bank-neutral, reloadable debit card that workers can use everywhere Mastercard® is accepted. Plus, payers can eliminate slow, costly checks, and set up a reimbursement schedule that delivers payments on time, every time.
RelianceCardTM for MSA Accounts
For MSA recipients, getting the care they need and staying in compliance with CMS guidelines can be burdensome.
They need a convenient benefits debit card that links to their account and has robust record keeping features. RelianceCard links directly to their MSA account and provides instant access to their funds. There’s no need for claims reimbursement. Plus, they have access to DataPath’s patented ClaimsVault®, an electronic ‘shoebox’ for records and receipts keeping. ClaimsVault is particularly useful during CMS reporting.
Direct Pay Provider Network, LLC
We're a small business and our staff wears many hats. To help ease the work load, we needed a payment solution that we could trust to deliver accurate payments quickly and enable us to automate a lot of the work.
Read our Whitepapers on Virtual Insurance Payments
Whitepaper: Using Technology to Enhance the Delivery of Medicare Set-Aside (MSA) Benefits - Self-administered Medicare Set-Aside Arrangements (MSAs) present a daunting challenge to both MSA recipients and third party vendors alike. Settlement recipients are faced with strict rules and regulations, detailed reporting and accountability, disbursement of funds, and more. Pharmacy benefit managers must find a way to offer added value through enhanced pharmacy discounts and a simple yet ... Read more
Whitepaper: Assessing the Hidden Risks of Payment Processing - The complications that stem from multiple parties being involved in insurance payment processing call for a solution that is flexible, efficient, and secure. Introduction The process of issuing payment from an insurer to a provider is fraught with complications and delays. Insurers commonly enlist the services of a third-party administrator (TPA) to manage the ... Read more
Whitepaper: The Missing Link in Provider Payments - Sky-high medical workers’ compensation payments and increasingly complex claims are calling for a streamlined solution to manual provider payment processes Introduction Caring for injured workers is more complex than ever before. In 2012 alone, workers’ compensation medical costs to providers increased to $30.8 billion¹, a staggering increase from years past. This upward ... Read more
Whitepaper: The Hidden Costs of Indemnity Payments - Traditional indemnity payment costs may result in higher workers’ compensation claim costs Introduction Indemnity payments represent a significant portion of workers’ compensation spend – anywhere from 40 to 60 percent of claim costs. While they don’t receive a lot of attention, increasing administrative burdens and processing fees associated with indemnity expenses are ... Read more
More Information about Virtual Insurance Payments
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