Streamlining the processing of recurring payments

Electronic Payments

When employees leave work because of a disability or an injury sustained on the job, they are often entitled to insurance payments. Generally, these are recurring payments and can continue for a long period of time. As such, they are ideal candidates for electronic funds transfer, providing better service to the claimant (especially when the injury makes getting to the bank an ordeal) and cost reductions to you over paper checks.

For those claimants without a banking relationship, paper checks can always be printed and sent by US Mail. A convenient feature of PayPilot is its automatic splitting of payments into paper and EFT streams.

Combining Payments

Workers’ Compensation insurers routinely send individual checks to the same healthcare providers over and over again. PayPilot can help you reduce the manual effort of processing all those separate payments by combining multiple claim payments into a single check or EFT. And even though the payment is consolidated, the remittance advice breaks out the detailed information for each claim.

PayPilot also can be set to print the wording required to fulfill individual state regulations on the back of checks. Some companies use checks with the printing already on it, while others require duplex printing capability. PayPilot can handle either scenario.

Delivery of Remittance Advice

Paper remittance advice, conforming to the legal requirements of the states in which you do business, can easily be printed from PayPilot and sent to the claimant and other stakeholders. Prelude can help you customize your advice so that it contains all the unique fields of data required in your daily operations.

If you require escheat processing, you can learn more about PayPilot’s expansion module for managing the uncashed-check process in our Products section.