Title: What is Electronic Data Interchange in Healthcare?
Headings: What is Electronic Data Interchange in Healthcare?
What is Electronic Data Interchange in Healthcare?
How EDI in healthcare works
Benefits of EDI in Healthcare
Standardization
Cost savings
Security
Improved productivity
Faster processing
Data-centric healthcare EDI
Looking Ahead

Content: Using these EDI HIPAA transaction sets, healthcare professionals and institutions can reap various benefits such as standardization, minimized transaction and other costs, security, and improved productivity. Benefits of EDI in Healthcare
According to MarketsandMarkets (as cited by PR Newswire), the healthcare EDI market is forecast to “ reach $1,681.1 million by 2018 .” This substantial growth is accounted for by the various advantages it provides: Standardization
The intention of HIPAA in using EDI is to establish national and global standards for electronic healthcare transactions. HIPAA EDI transactions enable organized, compliant, accurate, and efficient exchange of healthcare data. HIPAA EDI standards, however, are not limited to patient transactions or health information exchange (learn more about health care information here ). It also covers other standards such as for healthcare workers’ compensation. Cost savings
Enabling EDI healthcare transactions can result in lower handling costs of processing healthcare documents because it helps eliminate all paper trails and digitize all transactions. With EDI, healthcare players can generate significant savings: $1 per claim for health plans, $1.49 for physicians, $0.86 for hospitals, and $0.83 for others (based on WEDI estimates ).