Technology has enforced change in almost every aspect of our life. How we communicate, how we sell products or services, how we travel, and how we present information to the world. It is a privilege to live in the Information Age and be the grand generation to reap the benefits. The future is definitely within our reach. It is already here. In terms of cutting-edge technology, healthcare isn’t far away from it, especially when it comes to billing processes.
We have risen to greater health standards in our lives thanks to a law signed by President Clinton on August 21, 1996. This law is the Health Insurance Portability and Accountability Act. This has been effective for over 30 years and has proved to be essential over the years.
In this article, you will learn the importance of having a HIPAA-compliant billing option:
Privacy
The Health Insurance Portability and Accountability Act holds nurses and medical practitioners to high standards of secrecy. Almost sounds like the FBI, right?! We all know how critical health information is. First of all, in terms of security, it should be only you who have access to your records. This ensures that any and all threats, including exchanges between doctors and nurses, are controlled. We should also know that health information is not all about medical conditions, but also lines of treatment.
HIPAA enacted the Security rule in 2013 and made sure that PHI (Personal Health Information) is within “covered entities”. This means your information is only known to you, healthcare professionals involved, and some bank entities involved in the bank transactions. HIPAA requires business associates and health experts to seek patients’ consent before thinking about sharing their medical records with an outside party.
Choosing sustainability
HIPAA allows health organizations offering HME/DME services to prosper in the long run. When the law is enacted, standards are set high and operational quality ought to be optimized. This trait is a must if you want to survive in the health department. It also qualifies for other points like self-audits, documentation, procedures, and policies. This compliance should be channeled to the patient’s need to avoid any form of financial or economic downfall.
Functionality
This applies to the overall duty of an organization. An entity needs a guide on what the members will do day-in-day-out. Health Insurance and Portability Act will give the exact baseline on the following activities:
- Treatment and care co-ordination to patients;
- Ensure care and specific treatment meets the specific standards;
- Prevent the spread of infectious diseases within the facility and the society;
- To enable payment of doctors, nurses, and pharmacies for the services provided.
Within striving to become great healthcare facilities that offer high standards to patients, it’s vital to bring in the implementation of billing solutions. This is where Park Medical Billing and other trustworthy companies come into play. They offer solutions to your healthcare problems and needs, and you should make use of their creative and convenient services.