Miami, FL – Concordia Care, Inc. (Concordia), a specialty risk-transfer and care coordination company, recently noted that its intelligent claims clearinghouse capabilities are positioned to support the N.J. Workers’ Compensation EDI Law (Senate P.L. 2016 C64), as issued by the State of NJ Department of Labor and Workforce Development and published in the New Jersey Register.
With an 18-month adoption period, under this legislation it is mandatory that all workers’ compensation insurance carriers, TPAs, and medical management companies who receive workers’ compensation-related medical bills from health care providers accept and process the bills electronically. Further, it requires all healthcare providers and hospitals who submit over twenty-five (25) workers’ compensation medical bills per month to now provide electronic bills for payment on standardized forms compliant with guidelines.
“The iHCFA platform allows for the electronic submission of bills and supporting documents to payers resulting in faster processing, greater accuracy and increased cash flow for providers,” says William DeGasperis, DC, President, Specialty Services, Concordia. “We are in great position to partner with payers and providers to seamlessly implement a compliant solution in advance of the legislation due date.”
Concordia’s intelligent claims clearinghouse provides for the electronic attachments and supporting documentation capabilities required. The iHCFA solution ensures no lost bills in the process increasing practice profitability and efficiencies.
Joseph Berardo Jr., CEO, Concordia says, “NJ healthcare providers and payers will benefit from enhanced revenue cycle management. Given the mandatory nature of the legislation, Concordia is waiving all implementation fees for its payers and providers as was done for the similar Auto/PIP law that was recently enacted.”