PHILADELPHIA, PA (June 16, 2009) – InstaMed, an integrated healthcare clearinghouse and payment processor serving healthcare providers of all sizes in every state, announced today that the InstaMed Platform and Network have achieved CAQH® Committee on Operating Rules for Information Exchange (CORE®) Phase I rules certification.
As a result, providers on the InstaMed Network now have access to a significantly expanded set of consistent patient administrative information in response to electronic inquiries – data critical to initiating and completing the healthcare payment cycle.
Bill Marvin, President and CEO of InstaMed stated, “Implementing CORE accelerates InstaMed’s mission of simplifying the healthcare payment process for providers, payers and patients. We believe that CORE’s standards are an important component for improving electronic data exchange.”
A nonprofit alliance of health plans and trade associations, CAQH launched CORE to create an industry driven solution that can support all payers and enables consistent provider access to patient insurance information before or at the time of service using any electronic system. The organization has brought together more than 100 industry stakeholders, including InstaMed, to collaborate on its multi-phase set of uniform business rules to achieve that goal. CORE participants provide coverage for over 130 million lives, or more than 75 percent of the commercially insured plus Medicare and Medicaid beneficiaries.
To date, CORE has created and promulgated two phases of rules, which are built on national standards such as HIPAA. The CORE rules address data critical to the healthcare revenue cycle, including patient eligibility and benefits, patient financial liability for various service types, patient deductibles/co-pays and year-to-date patient accumulators. These rules also cover specific requirements for exchanging that information, including system connectivity, system availability, patient identification, claim status, maximum response times (batch and real-time) and the consistent use of standard acknowledgements.
Robin Thomashauer, CAQH Executive Director stated, “CORE certification demonstrates a real commitment to improving communication between providers and payers. That goal is now especially important in light of the heightened national focus on achieving a more efficient healthcare system.”
InstaMed also announced its commitment to complete the testing process for CORE’s Phase II rules in 2009.
InstaMed is the industry leading healthcare payments network and platform. InstaMed’s mission is to transform the healthcare payment process for healthcare Providers, Payers and Patients so their payment experience is simple, convenient, reliable and secure. InstaMed processes all of the healthcare and payment transactions in the healthcare revenue cycle and offers patent pending, integrated healthcare and payment transactions that accelerate the healthcare payment process and reduce the administrative costs to all parties. InstaMed currently supports the healthcare payment processing needs of over 900 hospital and clinic locations; practice management vendors and billing services representing over 50,000 providers; and hundreds of healthcare payers of all sizes. InstaMed is registered with Visa and MasterCard and is certified as a Payment Card Industry Data Security Standards (PCI-DSS) Level One Service Provider. InstaMed is also fully accredited by the Electronic Healthcare Network Accreditation Commission (EHNAC) as a healthcare clearinghouse. InstaMed is an AHIP Solutions Partner (America’s Health Insurance Plans), a certified member of CORE® (the CAQH® Committee on Operating Rules for Information Exchange), the Medical Banking Project, ASC X12, HBMA (Healthcare Billing & Management Association), Electronic Payments Network ACH Association Services, MGMA’s Project SwipeIT (Medical Group Management Association) and WEDI (Workgroup for Electronic Data Interchange). Visit InstaMed on the web at www.instamed.com.
InstaMed Public Relations