Exchange EDI Announces HTX

Tallahassee, Florida, April 22, 2013

Exchange EDI. LLC, a leader in healthcare cash flow transaction technology announced today the release of its’ patented “Healthcare Transaction Exchange” (HTX). The HTX platform is designed specifically to reduce payer’s operating costs and achieve compliancy with Health and Human Services (HHS) EFT/ERA operating rules mandated in the Affordable Care Act of 2010 and effective first quarter 2014.

The operating rules require the Electronic Funds Transfer (EFT) and Electronic Remittance Advice (ERA) balance and reconcile before delivery to providers. Further, the rules require that payers provide banks with a CCD+ formatted ACH transaction containing the corresponding ERA re-association number used to match the separate EFT and ERA transactions, delaying reconciliation and posting by days.

“HTX reduces operating cost for payers by reducing provider inquiry and support demand, eliminating EFT to ERA balancing and reconciliation processes plus providing payers automated confirmation of delivery”, said B. P. Fulmer, Managing Partner, Exchange EDI.

Mr. Fulmer added, “HTX is attractive to banks because it eliminates their exposure to Protected Health Information (PHI) and HIPAA covered entity status. What makes HTX so efficient and unique is the provider receives only one combined, HIPAA and HHS compliant, transaction containing fully reconciled ERA and EFT data ready for posting. HTX eliminates the need to match and re-associate two separate transactions that arrive at different times”.

Given the simplicity of the HTX solution and accompanying administrative cost savings, payers see HTX as an opportunity to achieve and maintain compliance with Medical Loss Ratio rules while providing a higher level of cost saving service the providers community.

About Exchange EDI:

Founded in 2009, Exchange EDI is focused on developing and delivering intelligent technology solutions to the healthcare provider market that integrate healthcare and financial transactions into a single process, delivering real-time information and settlement that accelerates the patient cash flow management process while reducing costs and securing accurate payment from payers.

Contact

Daryle Johnson
Exchange EDI, LLC
PH: 214-335-4424
Email: Daryle.johnson@exchangeedi.com

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Exchange EDI and Record Quest Partnership

Exchange EDI, LLC, a leading healthcare cash flow and payments management company announced today a strategic partnership has been established with
RecordQuest, Inc., a leading healthcare Release of Information (ROI) company.
“I am pleased to announce that Exchange EDI and RecordQuest have entered into a strategic partnership that leverages the market presence and distribution channels of both companies.” stated B. P. Fulmer, Managing Partner of Exchange EDI. “Of particular interest to me is, while both companies are engaged in fostering process efficiency and change in the healthcare market, we have a common attitude that we must change paradigms, not just make incremental changes around the margins.”

Matthew Dailey, CEO of RecordQuest added, “We have felt for some time that healthcare administrative efficiency is a very broad market with many opportunities. Partnering with a company such as Exchange EDI, with a common market change philosophy, strengthens both companies and provides higher levels of services
to our clients.”
About RecordQuest, Inc. Based in Charleston, South Carolina, RecordQuest was established in 2006 as the product and vision of a group of health information management and technology professionals that set out to simplify the tedious Release of Information (ROI) process for the healthcare industry. The RecordQuest Electronic Patient Information Exchange (ePIX) software automates the ROI function for Healthcare Facilities and seamlessly integrates with all Electronic Health Record (EHR) systems, streamlining workflow and increasing efficiency, increasing staff productivity, reducing expenses and enhancing compliance while maximizing revenue & profitability.

About Exchange EDI, LLC
Founded in 2009, Exchange EDI is focused on developing intelligent technology solutions that integrate health and financial transactions into a single process, delivering real-time information at the point-of-care to accelerate the patient cash flow management process while reducing costs and securing accurate payment from
payers.

Read more...