What Benefits Can Electronic Data Interchange Provide?

Streamlining Claims Processes

 

Before the implementation of electronic data interchange, the administrative communication between the providers and payers was slower. But thanks to EDI in healthcare, providers can access patient information and send the claims across to payers faster. Moreover, any queries from the payers too are processed and replied to faster. As a result, the whole series of activities around claims and reimbursement is accelerated and streamlined.

 

Data Security

 

The HIPAA (Healthcare Insurance Portability and Accountability Act) stipulates that organizations handling people’s medical information must ensure a certain level of data security. Failure to comply results in serious legal consequences that might include heavy fines and even jail time. But a medical EDI ensures a high level of security while exchanging patient data with encryption before transmission. Before it is sent across, the data is transformed into a format standardized throughout the medical industry. 

 

There is little chance of data breaches as there are layers of security before and during transmission. So the electronic data exchange software solution solves the security problem and also ensures compliance.

 

Improved Operational Efficiency

 

An EDI solutions enables the rapid exchange of information between all organizations involved in the healthcare stakeholder ecosystem. Moreover, it also allows multiple transactions to be programmed to be sent simultaneously to multiple entities. Needless to point out, this greatly increases the efficiency and productivity of day-to-day operations at hospitals. Things like verifying eligibility, claims, billing information, and so on are communicated instantaneously.        

 

Conclusion

 

Electronic data interchange has brought speed, efficiency, and security to all aspects of data interchange in healthcare. The result is a win-win for all stakeholders involved.