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Paper-based and manual processes can no longer sustain and keep up with today’s fast-paced, complex business workflows. Since the beginning of technological advancement, many have replaced their traditional, archaic systems in exchange for new technologies. But there are still healthcare organizations and companies that continue to implement old, accustomed methods despite their detriments and harm to the whole operation. Now more than ever, it is essential for the healthcare industry, including the Physician-Hospital Organizations (PHOs) to push for paperless transactions to initiate an efficient and safe clinical process.
PHOs require access to different health plan contracts from healthcare payer organizations that offer capitation, fee-for-service (FFS) reimbursements, and incentive programs for the service they provide. And using manual systems to enter information, request for application, and negotiate rates can slow down the process and ultimately compromise the entire progress, posing a threat to the member or patient’s overall outcome.
Executing processes through manual systems doesn’t serve the best interest of PHOs and healthcare payer organizations. Not only will they be taking more time and resources than necessary for their operation, but they are also highly vulnerable to data breaches due to weak security and poor privacy settings. Healthcare organizations that refuse to allow digitization run the risks of getting left behind, and that’s not a good trajectory for any business.
Adapting to the digital transformation is the only way forward for physicians and hospitals. In order to effectively do so and manage PHO’s paperless transactions, it requires a new technology such as electronic data interchange (EDI). EDI facilitates data movement between PHOs and healthcare payer organizations to exchange medical claims, billing, and other information. Shifting from conventional to modern, innovative means enables every operation to benefit from the following:
Through reliable digital technology, processes and transactions are simplified in a cost-effective manner. It creates efficiencies that were not previously carried out before but now enables organizations to optimize operations more freely.
The healthcare industry’s ongoing rapid change made it necessary for organizations and PHOs to transition and adapt to digitization. Consequently, healthcare technology solutions like QuickCap continue to innovate and improve to provide the best software for an improved operational workflow. With QuickCap, PHOs can conveniently do the following:
PHOs, healthcare payer organizations, and the rest of the sectors are slowly easing to acclimate to paperless transactions through healthcare solutions like QuickCap. Only a safe, fast, and digitized process can help businesses function efficiently and maintain operations against constant healthcare challenges.
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SOC Certification Achievement
MedVision has successfully met the criteria outlined in the SOC (System and Organization Controls) audit for service organizations. This certification demonstrates MedVision’s adherence to rigorous standards for security, availability, processing integrity, confidentiality, and privacy.
As a service provider managing sensitive data and overseeing critical functions on behalf of clients, this certification underscores MedVision’s commitment to maintaining high standards of operational excellence and data security.
HITRUST Risk-Based 2-Year Certification Achiever
The Health Information Trust (HITRUST) is a standards organization dedicated to security, privacy, and risk management. They developed the HITRUST Common Security Framework (CSF), which assists organizations in maintaining a comprehensive and secure approach to HIPAA compliance and managing risks. HITRUST is widely recognized as the benchmark in data security and privacy.
Certified Member of HCAA
The Health Care Administrators Association is the nation's largest nonprofit trade association for third-party administrators, stop loss insurance carriers, managing general underwriters, audit firms, medical managers, technology organizations, pharmacy benefit managers, brokers/agents, human resource managers, and health care consultants. HCAA has spearheaded the change of self-funding for more than 35 years.
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