Receive Your Medicare Payment Information Faster!
Would you like to receive faster payment notification from Medicare? What if we could eliminate mail and deposit time of your Medicare checks? The solution to both questions are just a few easy steps away. Sign up for Electronic Remittance Advices (ERAs) and Electronic Funds Transfer (EFT)!
ERAs are the recommended method for suppliers to receive their remittance advices and there are many benefits to switching to electronic:
- Faster communication and payment notification
- Faster account reconciliation through electronic posting
- Ability to create various reports
- Ability to search for information on claims
- Ability to print the remittance advice with the free software, Medicare Remit Easy Print (MREP), provided by Centers for Medicare & Medicaid Services (CMS)
Switching to ERAs is as easy as 1, 2, 3:
1. Verify you are capable of receiving the 835-transaction file.
- If you are a self-biller, verify this information with your software vendor
- If you are using a 3rd party biller, verify the information with your billing service/clearinghouse
3. You will receive an e-mail confirmation once your request has been completed.
Once you have signed up to receive electronic remittance notices, consider signing up for electronic funds transfer as well! The EFTs are the most convenient method to receive your Medicare payments. EFT is the process through which payment on Medicare claims is electronically transferred directly to your bank account. This process eliminates mail and deposit time and is available to all DME POS suppliers at no cost. Other benefits of the EFT process include:
- Quicker payment
- Assurance of timely payment in the bank
- Prevention of lost or delayed checks
- Easier bank reconciliation
- Administration efficiency
To sign up for EFT, you or your authorized representative must complete the Authorization for Electronic Funds Transfer agreement form and send to your local Durable Medical Equipment Medicare Administrative Contractor (DME MAC).
ERAs and EFTs are a perfect way to ensure you receive your payments and your payment information as quickly as possible! For additional information, review the resources provided below.
Last Updated Sep 06, 2017