Benefits of EFTs ERAs
There are many benefits associated with using EFTs and ERAs. We encourage providers to enroll in PaySpan Health's EFT/ERA service to take advantage of these benefits.
- Improved cash flow: Electronic payments mean faster payments to provider bank accounts.
- Reduced accounting expenses: Electronic remittance advices are imported directly into practice management or patient accounting systems, reducing paper handling and eliminating the need for manual re-keying.
- Control payment destination: Providers keep TOTAL control over the destination of claim payment funds. Multiple practices and accounts are supported.
- Manage multiple payers: Providers can reuse enrollment information to connect with multiple payers. Different payers can be assigned to different bank accounts.
- Complete reports available: PaySpan makes tracking and reconciling payments quick and easy with flexible payment reports. Providers can design their own reports and run them at any time.
- Security: The security of your data is paramount to PaySpan Health and WellCare. PaySpan Health has developed a rigid infrastructure to ensure data integrity and security.
- Options for remittance viewing and receipt: There are a number of options for viewing and receiving remittance details. PaySpan will match your preference for remittance information, with the following options:
- HIPAA-compliant data file that can be downloaded directly to your practice management or patient accounting system.
- Electronic remittance advice presented online and printed in your location.