The Essential Guide to Claims Technology in a Changing Environment 14
C H A P T E R 5 : T H E I M P O R TA N C E O F D ATA I N T E R C H A N G E
Data Interchange and Workflow
Data interchange is the transmission
of information electronically between
internal departments and to and
from external companies. Claim
processing involves a varied mix of
paper and electronic documents.
While advances in technology
can lead to improved operational
efficiency, claim organizations
still face information bottlenecks
and slower claim processing due
to the inability to disseminate
data efficiently and accurately.
In claims processing, the complexity
of documents needed from different
sources makes the collection of
information a challenging task. Claim
processing involves multi-faceted
decision-making. Organizations that
don't have a robust claims system to
access and utilize all available data
points can result in far too much time
spent on manual administration tasks
and ultimately see a reduction in
accuracy as well as efficiency.
There is a clear link between data
interchange and efficiency. Claim
administration systems that enable
internal departments and external
parties to share information
through technology promote
intelligent workflow solutions,
which can streamline the claim
handling process. Flat file data
exchange is becoming redundant
as organizations move towards
current technology that enables web
services and XML file formats.
Newer technology, such as Ventiv
Claims, provides the foundation for
organizations to automate workflows
through effective data interchange.
