LITTLE ROCK, Ark., Dec. 16, 2014 /PRNewswire/ -- Managing provider payments can prove both challenging and costly for workers' compensation payers. To help streamline this process, DataPath, Inc. announced today that it has launched an electronic provider payment solution for workers' compensation.
"We discovered that a significant percentage of payers issue hundreds of checks to a single provider each week to ensure EOB/EOR information is retained, an expensive and cumbersome process," said Dave Stair, director of insurance payment solutions for DataPath. "Alleviating this challenge by creating an electronic adjudication process was the impetus for creating DataPath Provider Payments."
What DataPath Provider Payments Is:
- Electronic Payment Adjudication: Payers submit reimbursements for multiple claims to a single provider at once through an electronic portal. This eliminates the need to write expensive checks and automates manual processes for both payers and providers.
- Centralized Provider Payment Management: EOB/EOR is retained and an audit trail created to track when payments are processed, distributed and applied for each claim. Providers can also access real-time information on payment status. Because everything is centrally managed securely online, both duplication and missed payments are significantly reduced.
- Absence of Banking Restrictions: As a bank-neutral solution, DataPath Provider Payments creates no conflicts of interest for payers and there is no need to collect bank account information.
How it Works: DataPath manages the entire payment process, including provider registration. Once registered, providers are reimbursed for services by entering a secure account number on their merchant terminal. Through a customized portal, payers can view claim reimbursement activity, EOBs/EORs and payment history.
Benefits: DataPath Provider Payments reduces costs and errors, streamlines medical service reimbursement reconciliation, enhances payer-provider relationships and increases protection against internal and external fraud.
Visit http://www.dpath.com/Solutions/Payment-Solutions for more information on Provider Payments.
About DataPath, Inc.
DataPath has created flexible financial and administrative solutions since 1984. Its workers' compensation solutions include secure, card-based indemnity payment processing and a provider payment offering that simplifies medical services reimbursement distribution and tracking. DataPath also offers solutions for the administration of consumer driven healthcare plans and insurance payments including flexible spending accounts, health reimbursement arrangements, health savings accounts, and transit accounts, as well as premium billing for COBRA, direct billing, retiree billing and more. Learn more at www.dpath.com.
Marketing Works for DataPath
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/datapath-provider-payments-simplifies-reimbursements-for-workers-compensation-payers-300010616.html
SOURCE DataPath, Inc.