Electronic data interchange services offer critical support for healthcare organizations dealing with information overload. In few other sectors are the positive effects and untapped potential of data-driven processes more evident than they are in the healthcare industry, with smart devices and analytics applications theoretically capable of providing significant benefits for patient care, research and facility improvement. One of the major developments in healthcare is in the capacity to share information between providers and practitioners. It can improve treatment, enhance diagnostic efforts and automate key processes.
However, a variety of connectivity, continuity and security issues have the potential to derail data management and translation efforts, thus obscuring the benefits information sharing can offer. Few organizations have the IT resources and infrastructure suitable to eliminate all current and future barriers. By investing in managed EDI services, healthcare providers can ensure the integrity, protection and usability of their information as it moves across a collaborative provider system.
Why EDI issues cannot be ignored
The influx of data in the healthcare industry is occurring at a fairly rapid rate, with excitement over its potential generally outstripping concerns about its security and management. More data-driven healthcare is being championed as a vital and transformative solution to many of today's most pressing issues; one recent EMC study of government agencies involved in the healthcare sector found that 59 percent said that fulfillment of their agency's five-year missions will hinge on successful incorporation of data and information exchanges.
EDI adoption has risen as organizations grapple with management and administrative efforts. The global market for EDI is expected to surpass $1.68 billion by 2018, according to MarketsandMarkets. Fueling the market are concerns about increasing healthcare and administration costs, claims management and the incorporation of government support and initiatives. By sharing research and patient data across the healthcare supply chain, organizations can reduce redundant analysis, ensure a higher standard for pharmaceutical processes and accelerate patient care. In an interview with InformationWeek, Manmeet Singh, Dataguise co-founder and chief executive officer, highlighted the changes that EDI and big data can bring to holistic healthcare sector improvement.
"Earlier, data warehousing and analytics was restricted to larger organizations because it was cost prohibitive. What big data has done has brought it down to smaller orgs. But the biggest challenge with these smaller markets and mid-tier organizations is resources," Singh said. "Cloud is becoming very prevalent. They're going to store a lot of data in the cloud. They'll outsource a lot of that data to the cloud. Automation of compliance is important."
How managed EDI can make a difference
Singh's comments also touched on perhaps the biggest problem facing an all-out dive into data - the fact that costs and management still present major hurdles. A managed EDI provider can help healthcare organizations optimize their EDI strategy through outsourcing in some key ways:
- Cost-effectiveness: Healthcare organizations should be spending money on patient care, not corralling analysis and IT initiatives. A managed EDI provider works with the organization to plan, implement and even manage its EDI environment in the most cost-effective, forward-looking manner possible.
- Improves B2B relationships: Many healthcare organizations struggle to be more collaborative and interoperable with partners. With a managed EDI provider, data needs are integrated into overarching B2B concerns, ensuring peak integration of services like data translation, EDI transactions and data management as information moves between providers.
- Continuity and troubleshooting support: With so much data exchanging hands, it's crucial that all infrastructure and software ensure that all tasks are monitored, backed up and secure. A managed EDI provider keeps track of EDI activities with comprehensive reports, and ensures that all system or process incidents are resolved immediately.
The healthcare system can tap almost unlimited potential EDI offer. A managed EDI provider can help organizations ensure they aren't leaving progress on the table.
If you liked this article, check out others from Lightwell:
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View the video below for an overview of our Managed Services for EDI and B2B Integration.