Reassociation
Now that ICD-10 is delayed until October 1, 2015, according to the CMS (Centers for Medicare & Medicaid Services), healthcare providers who spent millions on training and preparation now must defer the ROI benefits for another 1-2 years. So where can providers see immediate financial benefits as payments transition from paper to electronic? Look to the Revenue Cycle!
Read MoreEstablished in 1996, HIPAA standards addressing major transaction types in the revenue cycle were not enough to achieve industry Administrative Simplification. Currently, less than one-half of medical claim reimbursements are made electronically. The Affordable Care Act (ACA) is pushing for transformation by implementing compliance initiatives including the mandated 5010 and Healthcare Operating Rules for EFT & ERA. These are driven by CAQH-CORE (The Council for Affordable Quality Healthcare – Committee on Operating Rules for Information Exchange).
Read MoreFormer Health and Human Services Secretary and Governor of Wisconsin, Tommy Thompson is interviewed by healthcare payments expert, Mark Brousseau, President of Brousseau & Associates in Q&A Session #12. Gov. Thompson talks about how administrative simplification should move forward within the healthcare industry. Currently healthcare is behind the curve of adoption compared to other industries including many banking applications and insurance companies.
Read MoreI just received my notification email from NEACH (New England ACH) to download the 2014 NACHA Operating Rules & Guidelines. I have to say, this is good reading! As you may now, “the 2014 NACHA Operating Rules and Guidelines is the definitive source for information about the exchange and settlement of transactions through the ACH Network. The NACHA Operating Rules provide the legal framework for the ACH Network in simple, clear and consistent language. The NACHA Operating Guidelines contain complete discussions of each ACH Network participant type and its role and obligations, as well as detailed overviews of Standard Entry Class Codes.
Read MoreYou’re a healthcare payments professional and by now, you probably have an opinion on the topic of reassociation. You’ve seen the Orbograph white paper, How to Reassociate EFT/ACH Payments to ERAs in 2014, and see why the industry needs to make a move in this area. If you haven’t read it, now’s your chance! Or check out http://www.caqh.org/. There’s only 161 days left to prepare for implementation deadline for federally-mandated CAQH CORE EFT and ERA Operating Rules…
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