PHILADELPHIA, PA and NEWPORT BEACH, CA (November 1, 2006) – InstaMed, a real-time gateway and processor of healthcare and payment transactions, announced today it has received full accreditation by The Electronic Healthcare Network Accreditation Commission (EHNAC).
To achieve EHNAC accreditation, a healthcare clearinghouse must submit to an in-depth independent evaluation of the organization’s ability to perform at the highest level of standards for the transmission of health information. EHNAC’s accreditation process requires a rigorous assessment of compliance with current performance criteria verified by a site review and approval by the commission.
In Maryland and New Jersey, EHNAC accreditation is required of any entity processing healthcare transactions on behalf of healthcare organizations located in those states. Furthermore, EHNAC has been properly authenticated and registered with the Office of the United States Attorney General and Federal Trade Commission as an entity that is capable and qualified to develop and measure national standards of healthcare clearinghouse HIPAA privacy and security.
Every aspect of InstaMed’s business operations were thoroughly tested and evaluated as part of this process, including the technology infrastructure, data security, emergency preparedness, customer service, senior management and several other areas, passing the strict guidelines for accreditation. According to the EHNAC site reviewer’s report, “The InstaMed management team pursued EHNAC accreditation aggressively and seriously. The investments the company has made in assuring a strong infrastructure, including its geographically-distributed data centers and its extensive internal controls, are commendable.”
Lee Barrett, Executive Director of EHNAC said of InstaMed: “Today, InstaMed joins a select group of clearinghouses that have demonstrated to independent third party evaluators their ability to deliver their services consistent with the only standards in the industry that measure the overall business practices of a clearinghouse.”
InstaMed’s Chief Technology Officer, Chris Seib, stated, “This important accreditation further demonstrates that our clients can focus on their patients and members while relying on InstaMed to provide the highest quality and most secure transaction processing platform available today. This is an important milestone on our journey to simplify the healthcare payment process.”
InstaMed is a real-time gateway and processor of healthcare and payment transactions utilizing the patent pending InstaMed Platform. For thousands of healthcare providers, InstaMed continues to transform healthcare payments so their experience is simple, convenient, reliable and secure.
The InstaMed Platform integrates the healthcare and financial networks by delivering real-time and batch connectivity between healthcare providers, billing services, vendors, health plans, payers, banks, bankcard associations, the Federal Reserve and other financial entities. The InstaMed Platform supports Claims, Eligibility, Status, Remittance, Credit, Debit, eCheck and ACH transactions in both real-time and batch modes.
The Company’s management team brings many years of experience working on transaction processing with payers, providers, clearinghouses, vendors, billing services and financial entities of all sizes across the country. Started in 2004, InstaMed has customers across the country and has been processing live transactions since July of 2005. The Company is compliant with HIPAA, EHNAC and PCI standards and continually undertakes independent third-party audits to ensure that it maintains and exceeds the highest security and operational standards of the healthcare and financial industries.
EHNAC is an independent, not-for-profit accrediting agency that provides independent peer evaluation of an organization’s ability to perform at industry-established levels. EHNAC’s function is to promote administrative simplification and cost savings in the healthcare industry and to provide the healthcare transaction industry with an independent capability to develop industry standards, known as EHNAC Criteria. The mission of EHNAC is to promote standards, quality service, innovation, cooperation and open competition within the healthcare EDI industry:
- Establishes minimum criteria for industry self-regulation.
- Encourages firms in the industry to improve performance.
- Facilitates open market access and competition (“open access” referring to acceptance of transactions from any source or routing.)
- Fosters consistency in transmitted information.
- Enhances customer service and satisfaction. (“Customers” include providers, payers, intermediaries and third parties.)
The EHNAC Commission seeks to accredit entities that send or receive HIPAA regulated transactions, or that transport or process EDI transactions between two or more trading partners in the healthcare community. These entities include, but are not limited to, clearinghouses, transactions processors, value-added networks (VANs), payers, providers and provider management organizations.
InstaMed Public Relations