No one likes change. Change presents a new challenge for many Dental practices and developing the proper procedures for new methods of receiving and handling remittance data can certainly be challenging.
Frustrations
Remittance (ERA) data is delivered in different formats. Having a wide array of channels and formats has been a source of frustration for many practices handling remittance data and getting all of their ERA data in an organized system can seem overwhelming.
ERA data is delivered separately from the payment. When data is separated from the payment itself, practices may have to spend more time, effort and resources to retrieve and apply the data.
Additional time and effort is needed to handle ERA data. Electronic payments are a faster, more efficient payment option but, when ERA data is formatted inconsistently requires the accounts receivable team to spend more time and effort to identify and correctly apply the data.
Inefficient Handling
Inefficient handling of ERA data increases cost. Practices must streamline the process by which they receive and apply ERA data from EFT payments to ensure they are as efficient and cost effective as possible in the short and long term.
The Fix: Include remittance (ERA) data with EFT payments:
EFT without ERA is an administrative suicide. Setting up both is essential for an efficient process.
ERA’s with NO EFT = old school
ERA’s with EFT’s = efficient technology systems
EFT’s with no ERA’s = Disaster
Solution- postable EDI 835 (ERA) files that streamline the processing of EFT payments must create a more efficient, pandemic resilient process.
