Consider the time you spend when your paper EOB arrives. Just getting the information transferred to your computer is a big job. You need to make the decisions as to which patients' claims have been paid, which charges on those claims have been paid, which have been denied, and how much has been paid and what needs to be written off. Once you figure that out, you still need to post the payments and write-offs. This process could result not only in loss of valuable time but in math or keying errors. Now the VersaForm ERA feature will do it for you automatically!
To get ERA transmissions from your payer, all you have to do is request it (assuming that you are sending claims electronically). Most payers will continue to send you paper EOBs if you wish, so you will have a backup. After you have electronically submitted your claims to Medicare or other insurance payers who provide ERA, just download the ERA file. You then direct VersaForm to process the information to post payments to the appropriate patient ledgers. With a few keystrokes, the payments are automatically posted. Optionally, VersaForm can automatically post adjustments, too.
Finally VersaForm reports will give you a summary of the payments and adjustments, and show clear detail for any error conditions. Reasons for denial or adjustment are translated from numeric codes into plain English, What was once time consuming can be done in a matter of minutes. Available for any payers who sends the ERA in the HIPAA-compliant (ANSI 835) format.