Provider Payments, Workers Comp Payments, and MSA Cards
As an end-to-end processor for electronic payments and debit cards, DataPath is carving a path through the complex settlement and insurance payment landscape.
Processing indemnity and provider payments can be full of obstacles like high administrative costs, payment delays and duplications, manual errors, fraud, escheatment, and lost EOBs. In addition, settlement recipients need a way to access their funds quickly and securely.
Forge a trail to an accurate, efficient, and secure insurance claims, payment and settlement process with DataPath Payment Solutions. By choosing Provider Payments, RenewCard, and RelianceCard, you can save time, reduce errors, automate payments, decrease fraud, streamline the EOB reconciliation process, and more.
The Pain of Payment Processing
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 mitigate rising costs can be a headache for payers.
Payment recipients — injured workers and medical providers — find themselves frustrated with slow payments, payment errors, and a lack of full-time support. Their frustration results in a high volume of payment inquiries, leaving all parties searching for something more.
It’s time for modern payment solutions that can reduce overall costs, provide secure transactions, and speed up the payment process.
Claims processing in today’s world is more complex and more costly than ever before. Workers are experiencing more severe injuries and the recovery duration is getting longer. With multiple claims and EOBs to process for healthcare providers, payers are finding that manually processing payments is an expensive, time-consuming endeavor.
DataPath’s Provider Payments simplifies and streamlines the payment and EOB distribution process. Since it is a virtual payment method, Provider Payment reduces fraud, payment errors, processing fees, and high administrative fees. It also utilizes a secure web portal which ensures that the required EOBs make it to the provider. Providers receive payment immediately and payers can reduce their administrative burdens.
- Centralized provider payments
- Attach EOB/EOR to any payment type
- View claims and reimbursement history
- Direct EDI with claims system Secure, role-based access tailored for your organization
Workers’ Compensation Payments by RenewCard
Indemnity payments account for approximately 40 percent of claim costs. With injury severity on the rise and duration of recovery getting longer, the costs of workers’ compensation continues to rise. What’s more, American workers are becoming more mobile and may not have access to their home banks. 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 payment solution that:
- Delivers quick payments
- Cuts down excessive costs
- Reduces fraud and escheatment
Payers set a payment schedule and the RenewCard is automatically reloaded for the duration of the recovery. Injured workers don’t have to worry about cashing a check or waiting for payment delivery – it’s all on RenewCard.
Medicare Set Aside Accounts with RelianceCard
On their path to recovery, Medicare Set Aside (MSA) recipients need a way to quickly and securely access their settlement funds. Pharmacy Benefit Managers need a solution that can attract new clients, prevent benefit fraud, and save time and money processing claims, in addition to offering pharmacy network discounts. As an MSA card solution, DataPath’s RelianceCard is an account-linked debit card that provides secure access to settlement funds and can simplify the CMS reporting workload.
- Automatic Pharmacy Savings
- Convenient Access to Funds
- Greater Peace of Mind
- Accessible Claims and Receipts
|Payment Solutions (pdf)|
|Provider Payments (pdf)|
|Assessing the Hidden Risks of Payment Processing [ web | pdf ]|
|The Benefits of End-to-End Card Processing: Effective, Efficient & Secure [ pdf ]|
|The Missing Link in Provider Payments [ web | pdf ]|
|The Hidden Costs of Indemnity Payments [ web | pdf ]|