By Dr. William DeGasperis
Today’s healthcare providers now understand the many advantages of sharing health information electronically and its value in delivering higher quality, safer patient care. At the same time, the advent of electronic information exchange is also benefitting provider practices, with electronic processing of medical bills and claims, better known as Electronic Data Interchange (EDI), translating into greater efficiency and profitability.
As the industry shifts from paper-based to electronic transaction processing, amid an array of demanding new laws and regulations in some states that require electronic transactions, Providers will reap the many benefits:
• Faster reimbursement
• No paper claims to stock and complete
• Simplified record keeping by eliminating lost claims paperwork
• Reduced clerical time and the costs to process and mail paper claims
Providers will find it helpful to understand how EDI works, be informed about best practices, and know what to look for when it comes to choosing an EDI clearinghouse partner to ensure seamless implementation. [Read more…]