Payment Posting

Explanation of Benefits (EOB) is generated by the insurance company (payor) in response to a provider's claim submission for patient services. Typically, two to three weeks after submitting claims, medical practitioners receive an EOB notification from the payor, indicating whether the claim will be approved or denied. These notifications are traditionally delivered via postal mail.

When an EOB indicates payment approval, the insurance company issues a check, sent via traditional mail, to the service provider (clinic). In cases where the EOB states claim denial, clinic billers are responsible for taking further actions, such as resubmitting information to the insurance company.

ERA, or Electronic Remittance Advice, is the digital counterpart of the traditional EOB (Explanation of Benefits). To access ERAs, clinics need to register with their respective insurance carriers. While ERAs are received electronically, clinics have the flexibility to receive claim payments through various methods, such as checks, credit cards, or Electronic Fund Transfers (EFT) directly into their bank accounts. The method of payment depends on the clinic's preferences and how they've registered with each insurance company. The advantages of using ERAs over traditional EOBs are numerous. ERAs significantly reduce paperwork, offer same-day delivery, eliminate manual data entry, and streamline the payment process through automation.

We employ state-of-the-art platforms that eliminate the need for manual matching processes. Our systems swiftly clear transactions, automatically match them, and queue them for payment posting with a single click