Health insurance providers should welcome news of the completion of a HIPAA-compliant solution developed by Transax, which promises to reduce medical, operational and administrative costs and is expected to reach the US market in 2006.
Transax International Limited, a network solutions provider for health insurance companies, has completed critical components of a HIPAA (Health Insurance Portability and Accountability Act 1996)- compliant version of its Medlink WEB and Medlink SERVER software solutions.
Transax’s MedLinkWEB solution is an internet browser-based application developed under the Microsoft.NET platform, while the MedLink SERVER solution has been developed in Java and operates as a front-end to a number of practice management systems already installed in large clinics, hospitals and laboratories.
Both MedLink solutions process on-line and real-time eligibility verification, claims submission and claims adjudication in a single pass environment, representing a breakthrough in health claims processing. Both solutions have been in production for several years in Brazil, supporting payers with around four million lives. The solutions undertake transactions daily for some the largest health insurers and medical laboratory groups in Brazil.
Internal tests for HIPAA compliance took over six months of development by Transax’s technical engineers and the newly developed solutions will undergo further compliance testing by an independent third-party in the USA in early 2006. Upon certification, the company will launch its Medlink solution to the US market under its current arrangements with Union Dental Corp. and to the general market.
Transax president and CEO Stephen Walters said, The ability of payers to auto-adjudicate claims in ‘real time’ using our solutions, which have been fully operational and proven for a number of years internationally, will enable both payers and providers in the USA to benefit from the consolidation of healthcare claim processing, especially benefiting HSA accounts.