CONTACT US






Location

3422 Old Capitol Trail, #660 Wilmington, DE 19808
Phone: +1 516 684 9823

Location

3422 Old Capitol Trail, #660 Wilmington, DE 19808
Phone: +1 516 684 9823

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WE TAKE CARE OF YOUR BILLING
SO YOU CAN TAKE CARE OF
YOUR PATIENT

RESOURCES-5010 STANDARDS

WHAT IS 5010?

  • 5010 is an update of the standards that dictate the format and content of electronic transmissions of healthcare information between Trading Partners.

WHO ARE TRADING PARTNERS?

  • Health Plans
  • Healthcare Clearinghouses
  • Providers

EFFECTIVE DATE

January 1, 2012

WHY CHANGE?

  • The change to 5010 is mandated by HIPAA (Health Insurance Portability & Accountability Act of 1996), specifically the Administrative Simplification - Electronic Transactions and Code Sets Standards.
  • It is hoped that the change to 5010 standards will promote greater efficiencies in the healthcare industry by standardizing the structural requirements of data, by defining more clearly the specific content trading partners send and receive, and by decreasing confusion and complexity by discouraging the multiple and varied payer-specific electronic transaction companion guides in use today.

EXPECTED GAINS

  • Reduce phone calls to payer customer support
  • Support implementation of ICD-10 on October 1, 2013
  • Decrease claim payment appeals
  • Promote interoperability
  • Minimize payment delays
  • Improve quality of patient care
  • Move everyone away from paper processes
  • Decrease administrative healthcare costs

ICD-10

ICD-10 is the acronym for the International Statistical Classification of Diseases and Related Health Problems,

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ICD-10 STANDARDS

ICD-10 is the acronym for the International Statistical Classification of Diseases and Related Health Problems,

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FAQ

Velan Business Solutions, Inc (Velan) is a successful IT & ITES offshore outsourcing service

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WHY CHOOSE US?

Reduce Cost by
Upto 40%

Reduce Rejected
Claims

Knowledge
Retention

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