By Lauren Ruef – COVID-19 overhauled the U.S. healthcare system overnight. Systems we paid little mind to before, whether they are life-saving medical supply manufacturers, critical hospital budgets, or ICU capacity limits, now garner universal attention.
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Operating Rules message highlights operating rules for the Electronic Funds Transfer and Electronic Remittance Advice transactions. An EFT is the electronic message that plans use to order funds to be electronically transferred to a provider’s bank account.
CMS Administrative Simplification includes standards and operating rules for common health care electronic transactions. Widespread use of standards and operating rules for administrative transactions—where everyone uses the same language, format, and codes—can lead to substantial savings across the health care community.
WEDI, the nation’s leading authority on the use of health IT to create efficiencies in healthcare information exchange, announced the release of a wide-ranging set of industry best practices, entitled Electronic Payments: Guiding Principles.