EDI or Electronic Data Interchange can be referred to as the document standard and considered as a common interface between two or more computer applications for transmitting any information. Today, EDI has its significance in a number of industries, one of which is Healthcare EDI, where healthcare insurance data transactions are done in this format.
The adoption of this format in Healthcare has brought in many significant benefits such as reduction in administrative costs of health coverage as well as shortened transaction process resulting in faster processing of healthcare enrollments, patient claims handling and for cross verification by health care providers.
However, the adoption was followed by certain challenges such as only large organizations were able to enjoy the benefits due to higher adoption costs, limited IT resources, etc., major challenge was to incorporate the technology in compliance with the regulatory mandates.
US healthcare department very cautiously imposes that HIPAA complaint EDI transactions are mandatory and any deviation in it may led to serious penalties to be paid by the organizations. HIPAA also gets updated with new versions from time to time. The latest version is HIPAA 5010 and as per standard directives, it is compulsory for all organizations to adopt it by April 2014. Till now, organizations have been using the older version 4010 and now to switch to newer one, many critical changes need to be implemented.
TeemWurk has always taken care of organizational interest and offers such a Robust Web-Based EDI Tool that complies with all EDI standards and facilitates effective benefits enrollment processing. TeemWurk also enables clients to switch to newer HIPAA version in an easy and manageable manner by taking responsibility of entire implementation process.