ERA: Electronic Remittance Advice
Kareo’s electronic remittance services include the delivery of electronic remittance advice (ERA) reports; and in many cases, electronic funds transfer (EFT) reports from payers. Using electronic remittance services can save you significant time in posting payments and reconciling responses from payers as compared to manual payment posting using the older, paper explanation of benefits (EOB) reports.
Once you have enrolled and your enrollment has been approved by the payers that provide ERA services, you should begin receiving ERA reports within 24-48 hours of claim adjudication. You also receive electronic funds transfer (EFT) reports within 24 hours of funds transfer.
All of your reports are automatically routed to the right medical practice within your account. You can view and print all remittance reports in a standardized format. You can save them to your computers in ANSI 835 format; or you can export your ERA reports for use with other programs, such as Medicare's Remit Easy Print software. You can also use these reports to automatically post payments to patient accounts.