THE PROBLEM
Lost Revenue for Vendors
Because of the complexity of the EDI enrollment problem, industry-wide, 10 to 30% of requested EDI enrollments are never completed. This leads the typical EDI vendor to experience a loss of potential transaction revenues from providers that have "dropped-out", never to complete the enrollment process. This revenue loss can represent hundreds of thousands of missed EDI transaction revenues in a single year…all from accounts that were sold but undelivered. The majority of this lost revenue can be prevented by the use of a proper software tool to track and record the enrollment process, much in the same way accounts receivable and purchase orders are tracked.
Every day of revenue production that is delayed due to the EDI enrollment process represents thousands of dollars in annual transaction revenue. The EDI enrollment process can take as little as several weeks to as much as several months depending on the payer requirements, responsiveness of the providers and the efficiency of the tools used to process the EDI enrollments. Applying a tool that will decrease the time to completion for the EDI enrollment process can reap benefits in thousands of dollars of additional annual EDI transaction revenues.