EHNAC and WEDI Announce Collaboration to Develop Financial Services Healthcare Current State Report

Industry white papers address challenge of health data privacy and security in financial services

FARMINGTON, Conn. – May 13, 2009 – The Electronic Healthcare Network Accreditation Commission (EHNAC), a non-profit standards development organization and accrediting body, and the Workgroup for Electronic Data Interchange (WEDI), a non-profit healthcare association, today announced a collaboration to address the current state of health data protection needs within the financial services industry and in context with the current regulatory federal legislation.

EHNAC and WEDI convened an industry forum on Feb. 10, 2009 to address the current state of medical banking as it relates to HIPAA, American Recovery & Reinvestment Act of 2009 and HITECH Act and the impact on the financial services industry. The “Demystifying the Banking Exemption under HIPAA” forum discussed the requirements under legislation for financial institutions, management of various state protection regulations and the implementation practices of third-party accreditation and certification programs.

EHNAC and WEDI seek industry collaboration and are working with public and private sector entities to develop a “Financial Services Current State in Healthcare” white paper to be released Sept. 30, 2009 and a financial services current state white paper titled “Financial Services Best Practices Guidelines for the Healthcare Sector” to be released first quarter 2010. EHNAC and WEDI invite broad participation in providing feedback to both documents on the organizations’ web sites at www.ehnac.org and www.wedi.org.

“With the financial sector’s increasing involvement in the processing of health information, questions regarding their responsibilities in the areas of regulatory requirements and public trust are important to clarify at an early stage with the new legislation. A defined framework that can prevent any misunderstandings in financial organizations’ data security and protection requirements and safeguards is necessary,” said Lee Barrett, executive director of EHNAC.

EHNAC has taken an aggressive position in addressing the needs of the financial industry with respect to healthcare services by hosting virtual and face-to-face financial advisory forums, developing and deploying financial services accreditation programs, and interfacing with other healthcare and financial organizations to ensure a cohesive approach in addressing the needs of the financial market.

”We are very pleased to collaborate with EHNAC on this important initiative. There are a number of issues and concerns that need to be addressed, and bringing together a cross-section of informed industry leaders to discuss and formulate specific solutions and recommendations will be very valuable,” noted Jim Schuping, EVP/CEO of WEDI.

As an advisor to the Secretary of HHS on HIPAA implementation, WEDI frequently provides advice to the Secretary and guidance to the healthcare and related industries on the HIPAA standards for Administrative Simplification, including privacy, security, transactions and code sets.

About EHNAC
The Electronic Healthcare Network Accreditation Commission (EHNAC) is a voluntary, self-governing standards development organization (SDO) established to develop standard criteria and accredit organizations that electronically exchange healthcare data. These entities include electronic health networks, payers, financial services firms and e-prescribing solution providers. EHNAC was founded in 1993 and is a tax-exempt 501(c)(6) nonprofit organization. Guided by peer evaluation, the EHNAC accreditation process promotes quality service, innovation, cooperation and open competition in healthcare. To learn more, visit www.ehnac.org or contact info@ehnac.org.

About WEDI
Workgroup for Electronic Data Interchange is a non-profit healthcare association dedicated to promoting the standardization of healthcare data and data exchange. WEDI’s membership includes providers, payers, integrated delivery networks, vendors, consumers, government organizations and standards groups. WEDI helped to secure the passage of the Health Insurance Portability and Accountability Act (HIPAA) in 1996, and was designated as an official Advisor to the Secretary in the legislation, acknowledging its influence and unique position in the healthcare industry. For additional information, visit www.wedi.org.