DataPath RelianceCard™ Helps Payers and Pharmacy Benefit Managers Monitor Workers' Compensation Medicare Set Aside Settlement Funds
RelianceCard ensures funds are spent properly, applies network discounts and simplifies tracking
LITTLE ROCK, Ark., June 15, 2016 /PRNewswire/ -- DataPath announced today the launch of its newest workers' compensation solution, RelianceCard, a card-based payment solution for Medicare Set-Aside (MSA) arrangements. The customizable card provides MSA recipients easy access to funds and network discounts, helping carriers and pharmacy benefit managers (PBMs) ensure settlement money is used for related care.
"A challenge for payers and PBMs is ensuring that workers' compensation settlement funds are being used in accordance with the MSA arrangement," said Glen Hoffman, vice president of investment services and company principal for DataPath. "We developed the RelianceCard to help PBMs and payers better monitor these funds, eliminate administrative burdens, and apply network discounts to related medical expenses such as prescriptions and durable medical equipment."
More information on DataPath's RelianceCard is available here.
Why:
- Ensure Proper Account Use: When MSA settlement dollars are used incorrectly, injured workers can run out of funds for necessary medical care, leading to calls, unnecessary expenses and threats of litigation. RelianceCard can be customized to restrict purchases and automatically apply network discounts.
- Reduce Administrative Hassles: RelianceCard encourages the use of in-network pharmacies and durable medical equipment (DME) providers. This eliminates the burden of adjudicating third-party bills. If cards are lost or stolen, the claimant calls DataPath directly, eliminating hassles for the organization managing the MSA account.
How it Works: DataPath's RelianceCard is linked to the claimant's MSA account. Cards can then be linked to the PBM's pharmacy or ancillary network to automatically apply discounts. DataPath's patented ClaimsVault™ technology tracks documents and receipts for concise recordkeeping and easy CMS reporting.
Cards are fully customized to give payers and PBMs the freedom to make the cards as flexible or restrictive as they want. DataPath handles everything from card issuance and payment processing to customer service and technical support. If a card is lost or stolen, funds are protected against fraud.
About DataPath:
Little Rock-based DataPath has created flexible financial and administrative solutions since 1984. DataPath's workers' compensation solutions include secure, card-based indemnity payment processing and a provider payment offering that makes it easier to distribute and track payments for workers' compensation medical services. Learn more at www.dpath.com.
Contact:
Amanda Amsel
Marketing Works for DataPath
614.540.5520
[email protected]
SOURCE DataPath
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