Benefits of Electronic Remittance Advice
Table of Contents
- Benefits of Electronic Remittance Advice
- There Are Several Benefits to Choosing ERA Versus SPR
- Help Interpreting the ERA Is Available
Benefits of Electronic Remittance Advice
The ERA is the electronic version of the SPR, which serves as a notice of payment and adjustments sent to providers, billers and suppliers. These electronic remittances provide the same information that is found on the SPR, as well as data and administrative efficiencies not available in an SPR.
Using the ERA saves time and increases productivity by providing electronic payment adjustment information that is portable, reusable, retrievable, and storable. The ERA can be exchanged between partners with much greater ease than a paper remittance.
There Are Several Benefits to Choosing ERA Versus SPR
- Faster account reconciliation – Receive your remittances the day the claim finalizes, rather than waiting until the mail arrives a week after the payment was made. (SPRs are mailed weekly.)
- Streamlines the reconciliation process and increases productivity and efficiency – Many billing software programs have the ability to automatically post electronic remittances allowing your staff to more accurately reconcile outstanding balances. Quickly review outstanding claims as most billing software store the ERA data to show the progression of billed claims.
- Reduces Costs:
- Paperwork reduction – Reduces paper and printing costs
- Storage and maintenance costs – Eliminates the need to store and maintain paper files occupying valuable file/office space; the electronic files can be stored online indefinitely.
- Lower administrative costs – Reduces costs associated with staff time to review and file paper remittances
- Environmentally responsible – Reduces the amount of environmental resources used
Help Interpreting the ERA Is Available
If you have any questions about or need help understanding the ERA, please contact the EDI Help Desk by phone or email. If you have questions in regards to claim payment information in the ERA, please contact the Provider Contact Center.
For additional resources, see Related Content under the 835 Electronic Remittance Transaction (ERA) topic to the left.
Reviewed 9/23/2024