Electronic Data Integration (EDI) has come to the forefront of information transfer in recent years. Exactly what is EDI, how can it be used for medical professionals, and what are the primary benefits of using EDI? Let’s examine these queries further.
EDI Defined
As we have already determined, EDI stands for electronic data integration. EDI the exchange of documents in a standard format from computer to computer. The difference between traditional methods of document exchange, such as a mail, email, or fax, is that EDI eliminates a lot of the processes of the exchange.
For example, traditionally faxed documents involve one individual preparing the documents, the fax machine sending the documents, the recipient receives the documents, the recipient processes the documents, then the recipient sends the documents back through the fax machine to the original sender, and then the process is repeated in order to properly process the documents.
This 5+ step process is inefficient, desperately slow, and minimizes the opportunity for profitable practices. EDI helps to eliminate these inefficient processes, and provides maximum output for profitable earning activities through efficient document exchange.
Use in the Medical Field
For medical professionals, this is a wonderful invention. EDI allows the expedient processing of medical claims, patient data transfers, and information requests on medical history. EDI can be used in multiple areas of medical expertise, including but not limited to traditional medical practices, dental practices, chiropractic care, mental health counseling, and beyond.
Apex EDI is the premier EDI software that can be integrated into existing practice management software. EDI provides a host of benefits for medical providers, which we will discuss in the next subheading.
Benefits of Using EDI for Medical Claims
While the benefits of using EDI are vast for medical claims billings, a few stand out in our mind as invaluable. They include efficiency, returns on investment, and expediency.
Efficiency
EDI increases medical claims billing efficiency by eliminating repetitive tasks and expediting the accuracy of documents that allow your staff to improve production and processing of medical claims.
ROI
EDI return on investment (ROI) is a substantial benefit for medical claims billing providers. Elimination of paper processing such as printing, postage, and illegible faxes allows for a cost savings of up to 35%.
Expediency
The efficiency of EDI also allows for faster claims processing. Exchange transactions take place in minutes instead of hours or days required by email or traditional postal services.
Overall, EDI systems are a phenomenal method of improving efficiency, expediency, and profitable business practices for medical claims billing. Apex EDI allows for all of the benefits and more. For additional reasons to use Apex EDI for your medical claims billing practices, visit our Contact Us page in order to receive more information.
Articles with this disclaimer may not represent the beliefs or core values of Apex EDI. The following is simply a summary taken from the industry’s general community to help readers stay up-to-date on what people are talking about.
