SmartMetric's Fingerprint Guards Medical Insurance Fraud

By Mandira Srivastava
TMCnet Contributor

The insurance and risk management to fraternities are excited by new opportunities in biometric security. These cards are based on fingerprints, face and iris scans, or voice prints.

Biometrics can be used to verify cardholder identity.

According to a press release, SmartMetric's fingerprint activated in card technology has been introduced by SmartMetric, a developer and manufacturer of "Secured by Biometrics" Credit and Identity Cards.

SmartMetric's fingerprint is the answer to today's mushrooming Medicare fraud and abuse that is estimated to be as high as $160 billion a year.

Scott Cohn, CNBC senior correspondent and CNBC Investigations reports that healthcare fraud in the U.S. is at $80 billion each year.

SmartMetric says it could achieve billions of dollars in savings from Medicare and Medicaid fraud across the United States. The company has developed a SmartCard based health insurance card that has a "smart chip" that is turned on only after a person's fingerprint is scanned by the SmartMetric fingerprint sensor that is on the surface of the insurance card. Each person will be entitled to one card. The person, who is the owner of the card, will be able to use the card, while the card itself can store and track all insurance purchasers by the individual users.

The SmartMetric, Biometric Card Computer offers powerful computing with large memory capacity in a revolutionary size that has taken more than 10 years of research and development. It will change the way business is done and information is handled across a broad range of industries

The company has won a level of miniaturization that enables it to release a solution of portable computing power that combined with SmartMetric's biometric fingerprint in-card scanning technology.

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