July 13, 2012 -
SmartMetric, Inc., has developed a health insurance smart card as a means to respond to Medicare and Medicaid fraud that costs the U.S. an estimated $160 billion a year.
SmartMetric’s fingerprint activated card is used to identify and verify patients. It has a “smart chip” embedded in the card that is activated only after a patient’s fingerprint is scanned by sensor that is located on the surface of the smart card. Only the person issued with the card can use the card, which can store and track all usage.
With national health care spending topping $2.7 trillion and expenses continuing to outpace inflation, health care fraud drains scarce resources, which impacts the overall economy.
SmartMetrics claims that if the U.S. government decided to use its smart card technology that features a built-in fingerprint scanner for patient identity verification, it could achieve billions of dollars in savings by eliminating Medicare and Medicaid fraud.
In your opinion, do you Smartcard can help fight medical insurance fraud? Let us know in the comments.