Healthcare providers interested in cost savings and other benefits are converting to electronic payments at a steady clip. In 2014, the ACH Network moved more than 149 million healthcare Electronic Funds Transfers (EFTs), transferring about $876.6 billion in claim payments from health plans to providers. During the same period, it is estimated that the healthcare industry saved approximately $295 million by using the healthcare EFT standard and Electronic Remittance Advice (ERA).
But what if a provider has received an EFT payment with no corresponding ERA and doesnt recognize the sending organization? How is the sender determined? Unfortunately when a provider does not receive the associated ERA and cannot recognize the originator of the transaction, the provider must follow-up with the bank and the health planoften with numerous phone calls.
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