Today’s issue of WorkCompRecap features InsurCard’s announcement of Visa as their preferred brand for the delivery of payment for insurance claims.
As ebilling and payment between payers and providers becomes more prevalent in work comp, (According to a recent WCW Featured Article from Jopari, currently some providers rely on electronic transmission for over half their workers’ comp billing and document submission) it seems to be a logical progression that similar approaches would improve efficiencies in delivery of payment to claimants. It seems that MedRisk, Inc. has taken notice, as they are listed as one of InsurCard’s partners.
In addition to lowering payment processing costs, the card option allows for improved fraud detection, improves cash control, and is protected from theft and fraud by Visa’s programs.
Perhaps the card’s greatest advantage in a Work Comp capacity is the ability to reload repeatedly, allowing payers to rapidly and easily deliver multiple payments to a single claimant, in a timely and cost efficient manner. Find out more by clicking here.