Financial EDI is a linchpin of today’s economy. It allows the fast, seamless transfer of money from one organization to another thanks to the transmission of information in standardized, machine-readable format (known as financial EDI standards).
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When someone says “the check is in the mail,” do you believe them? Or, have you been burned too many times before to trust that person? You are not alone; many business owners have become jaded by the lack of sincerity behind that phrase.
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While variety might be the spice of life, different formats of data make it difficult to exchange data between healthcare providers and insurance companies. That is why the Fast Healthcare Interoperability Resource (FHIR) was created.
FHIR has generated a great deal of excitement among vendors in the healthcare IT industry. Read on to learn what it is, why it was developed, and how it is used to improve interoperability in the healthcare ecosystem.
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Medical billing is a necessity for practices; without it, you cannot continue your crucial work of keeping patients healthy. At the same time, it is an administrative task that takes up valuable time and resources. How can your medical practice balance the need for payment with your core business, making people feel better?
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As a healthcare provider, you have a number of tasks. You must ensure the patient becomes healthy so he or she can live a normal life, you have to run your operation in a way that is efficient and cost-effective, and you have to abide by regulations such as HIPAA so that you do not pay hefty financial penalties.
How can you remain HIPAA-compliant and still achieve those other goals? The answer lies in healthcare EDI. Read on to learn about transaction sets, an important component in sending healthcare EDI messages.
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