Electronic Data Interchange:
Electronic Data Interchange (EDI) refers to how information is structured in a standardized electronic format and exchanged computer-to-computer between business partners.
EDI greatly improves the efficiency and effectiveness of data transfer. In an effort to streamline communications, businesses increasingly need to adapt to industry regulations to continue competing in the large market. In the US, the healthcare industry was the first to be required to do this on a massive scale to meet HIPAA requirements.
How is EIXSYS the Solution?
EDI is the very foundation of digital transformation in the information age. The founder of EIXSYS helped pioneer the architecture, training, and IT solutions surrounding the very concept and purpose of HIPAA.
The founder of EIXSYS helped pioneer the architecture, training, and IT solutions surrounding the very concept and purpose of HIPAA. Our experts have developed a feature that sends
inbound and outbound health information in a EDI HIPAA mandated format, while meeting each of the CORE phase formats as follows:
– CORE Phase I: Eligibility status is sent in a 270/271 format
– CORE Phase II: Claim status is sent in a 276/277 format, as well as Phase II Eligibility status sent in a 270/271 format
– CORE Phase III: Involves Electronic Funds Transfer, as well Electronic Remittance Advice in the 835 format
– CORE Phase IV: Includes claims 837 format, 834 enrollment, 820 premium payment, and the 278 Healthcare Service Review
Aside from the compliance aspect and the reputation that businesses acquire when they operate with improved services, direct benefits include:
– Lower transaction costs, as the need for paper, printing, filing, storage and postage are all eliminated.
– Built-in trading partner manager, verifying the proper clearinghouse is sending the transaction.
– Compliance check is completed to ensure all data is submitted in a valid format.