Archives for : HIPAA 5010

What is HIPAA 5010 Conversion?

5010 conversion

5010 conversion

The Health Insurance Portability and Accountability Act (HIPAA) mandated that all  healthcare clearing houses, healthcare providers and health plans must comply with new electronic transaction standard, which is version 5010. Moving away from 4010 format, HIPAA 5010 which went into effect from Jan 1, 2012, makes sure that healthcare transactions can ably support new and dynamic developments in healthcare management like ICD- 10 code set changes etc.

HIPAA requires healthcare entities that conduct specific healthcare transactions like electronic claim submissions, remittance advice, claim status inquiry, payments to providers, eligibility/benefits requests, referral requests and responses, health plan enrollment and dis-enrollment, benefit and premium payment coordination, and responses and claim remittances to use Version 5010.

 

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Vee Technologies Countdown: 5010 Conversion Deadline In 108 Days

At Vee Technologies, we understand that the March 31st deadline for the 4010 to 5010 EDI Health Care Claim Transaction set is approaching fast and there are innumerable providers, payers, and vendors still at risk for non-payment of claims at the start of Q2 2012. ICD-10 is not just for those who submit Medicare claims but for any healthcare organization that processes, stores or transfers any type of patient health information covered by HIPAA.

Even with the recent deadline extension from December 31st to March 31st, ensuring a smooth transition will take time and providers, payers and vendors are urged not to wait! Vee Technologies President, Patrick O’Malley, states “It is all about positive cash flow. Vee is an excellent choice to stay on track because we offer peace of mind that the conversion will go well and that deadlines will be met.  Time and again our clients tell me it is our keen focus on accuracy that makes the difference. We deliver results with minimal disruptions so they can focus on maintaining successful business operations. It’s a real win-win strategy.”

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