The new 5010 format will allow us to deliver even greater value with our sophisticated analysis solutions…and since we’re ready for 5010 our clients won’t have to worry about HIPAA compliance as they begin preparing for ICD-10.
(PRWEB) November 09, 2011
“Adapting to a new standard can be an overwhelming experience, but RemitDATA is prepared well in advance, which makes this a non-issue of concern for our customers,” said Brian Fugere, CMO at RemitDATA. “Our customers have been notified that our solutions are 5010 ready. In fact, we have already accepted and processed the new format into our solutions. The new 5010 format will allow us to deliver even greater value with our sophisticated analysis solutions…and since we’re ready for 5010 our clients won’t have to worry about HIPAA compliance as they begin preparing for ICD-10.”
RemitDATA’s TITAN and Reimbursement PRO solutions provide healthcare providers, health systems and RCM companies with the next generation of actionable reimbursement and compliance insights through patented comparative reimbursement, productivity and utilization analysis and benchmarking technology.
The expanded 5010 format, an enhancement to the currently used 4010 format, is mandated by the Health Insurance Portability and Accountability Act of 1996 (HIPAA) to be used by health plans, clearinghouses and providers for electronic administrative functions. The goal of the new format is to enable more meaningful and reliable reporting and analysis. Additionally, it provides for more detail, which will be useful in the upcoming ICD-10 conversion.
Founded in 2000, RemitDATA Inc. helps more than 75,000 healthcare providers improve revenue and cash collections by identifying and correcting performance issues in the post-adjudication stage of the revenue cycle. The company provides a range of system-agnostic solutions with patented, proprietary technology offered in Software as a Service (SaaS) form for immediate value-add implementation, resulting in a faster return on investment. The end result is more enlightened providers with better educated practice management teams, improved employee productivity and increased profitability. Based in Memphis, Tennessee, and Dallas, Texas, the company has enjoyed a more than 90 percent client renewal rate since its inception. For more information, please visit http://www.RemitDATA.com.
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