Cyberattacks are very common in today’s world, plaguing many businesses and operations that rely on technology to run smoothly. Clearinghouses are one of those entities, which is the name given to any platform that allows data transfer between paying parties. The Change Healthcare clearinghouse is responsible for 50% of the medical claims in the US, and recently experienced outages due to a cyberattack. The impact was detrimental, and it helped to establish a need for communication between clearinghouses and redundancy.
No single system can be immune to cyberattacks. Establishing redundancy means to decentralize where all of these payments are processed. Therefore, if one clearinghouse is experiencing outages, the entire system can still run smoothly. Sending all transactions through one place risks delayed payments as well, which can be costly. This creates a financial gap and further financial challenges until the systems can be restabilized.
In order to establish true redundancy, communication between clearing houses around the country is paramount. Once these relationships are established, it is much easier for companies to remain operational during outages. The efficiency and ease that comes with redundancy and decentralization is unmatched, streamlining payment processing and handling claims from all corners of the United States.
Source: Orbit Healthcare
