BAY HARBOR ISLANDS, FL--(Marketwire -07/11/12)- SmartMetric, Inc. (SMME), developer and manufacturer of "Secured by Biometrics" Credit and Identity Cards, announced today SmartMetric's fingerprint activated in card technology is the perfect answer to today's mushrooming Medicare fraud and abuse that is estimated to be as high as $160 Billion a year.
Conservative estimates put health care fraud in the U.S. at $80 billion each year -- some say the real number is closer to $160 billion, according to CNBC Senior Correspondent Scott Cohn and CNBC Investigations Inc. in a televised report to be aired soon.
Using SmartCard technology with an inbuilt fingerprint scanner for patient identity verification, SmartMetric says it could achieve billions of dollars in savings from Medicare and Medicaid Fraud across the United States. SmartMetric 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. Only the person issued with 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 provides powerful computing with large memory capacity in a revolutionary size that has taken more than 10 years of research and development. Using the latest in sub micro technology electronics, the company has achieved a level of miniaturization that allows it to release a solution of portable computing power that, combined with SmartMetric's biometric fingerprint in-card scanning technology, is so revolutionary. It will change the way business is done and information is handled across a broad range of industries. For further information please go to the company's website: www.smartmetric.com
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