Insurers and risk managers are locked in a perpetual battle against rising workers’ compensation costs. According to InsurCard, the sponsor of this report, a large carrier can save millions of dollars each year in processing expenses by utilizing reloadable debit cards. InsurCard estimates savings of up to 85 percent. Driven substantially by runaway claims costs, sweeping changes in the ways submissions are underwritten and claims are managed have been implemented by many insurers to rein in both medical and indemnity costs. Recently InsurCard introduced an electronic payment solution that simplifies paying both injured workers and healthcare providers. Companies that are most successful at controlling costs while improving customer satisfaction enjoy strong competitive advantages.
To learn more about the innovation of simplifying workers comp payments click below.
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