BC Advantage - 2008 Issue 7
ERAs and EFTs - Am I missing out?
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Article Overview
This article explains how electronic remittance and funds transfer processes fit into practice administration and revenue cycle workflow. It is aimed at billing staff, office managers, and providers who want a general understanding of EDI-related payment options, enrollment basics, and operational considerations associated with electronic claim payment delivery.
Why This Topic Matters
The piece is relevant to readers evaluating ways to reduce paper handling, speed payment processing, and organize reimbursement information within practice systems. It also highlights enrollment and workflow issues that can affect implementation decisions for practices working with clearinghouses and payors.
Article Sections
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Electronic data exchange and office workflow
Introduces the broader role of electronic data exchange in medical office operations and how it relates to administrative efficiency.
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Electronic Remittance Advice (ERA)
Covers the general purpose of electronic remittance information, delivery through clearinghouses, and related setup considerations for practice systems.
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Electronic Funds Transfer (EFT)
Discusses electronic payment deposit workflows, operational advantages, and related administrative considerations for practices.
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Lockbox services for smaller plans
Describes a banking-based alternative for handling mailed payments and correspondence from plans without electronic capabilities.
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Enrollment and application process
Summarizes the general enrollment path for electronic payment options through clearinghouses or plan websites, including application logistics and format choices.
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Practice efficiency and implementation considerations
Wraps up with a broad discussion of efficiency, cost, and administrative planning for using electronic payment tools in a practice.
What You Will Learn
- How electronic data exchange relates to medical billing workflow
- What kinds of administrative topics are involved in ERA and EFT setup
- How clearinghouses and payors may support enrollment
- What general factors practices consider when selecting electronic remittance formats
- How electronic payment tools can affect office efficiency and reimbursement handling
Who Should Read This
- Medical billers
- Coding professionals
- Practice managers
- Office administrators
- Healthcare providers
Codes Discussed
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