Under HIPAA, HHS adopted certain standard transactions for the electronic exchange of health care data. These transactions include: Payment and remittance advice (PDF) Claims status (PDF) Premium payment.Click to see full answer. Likewise, people ask, what is a Hipaa standard transaction?The HIPAA transactions and code set standards are rules to standardize the electronic exchange of patient-identifiable, health-related information. They are based on electronic data interchange (EDI) standards, which allow the electronic exchange of information from computer to computer without human involvement.Beside above, what is the main purpose for standardized transactions code sets and identifiers under Hipaa? The HIPPA Privacy standards provide a federal floor for healthcare privacy and security standards and do NOT override more strict laws which potentially requires providers to support two systems and follow the more stringent laws. Also Know, what are standard transactions? Standard Transactions. In general, the standard transactions prescribe the form, format, and content for the transmission of information in certain contexts, with the goal being to reduce the administrative costs of such transactions.What are standard code sets?Under HIPAA, a “code set” is any set of codes used for encoding data elements, such as tables of terms, medical concepts, medical diagnosis codes, or medical procedure codes.