BC Advantage - 2015 Issue 6

How to Identify Who Sent Your Healthcare EFT Payment

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 doesn't recognize the sending organization? How is the sender determined? Unfortunately, when...

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