Brief description of the Electronic Remittance Advice(835) or Electronic EOB
A Remittance Advice (RA) is a notice of payments and adjustments sent to providers, billers, and suppliers. After a claim has been received and processed, a Payer(any one who pays medical claims) contractor produces the RA, which may serve as a companion to a claim payment(s) or as an explanation when there is no payment. The RA explains the reimbursement decisions including the reasons for payments and adjustments of processed claims.
Benefits of using Electronic Remittance Advice(835)
- More detail EOB information
- Paper less remittance advice
- Quicker payment notification
- Automatic payment into Accounting System (Reconciliation)
- Identify problems(adjustments, denials, pends and others) instantly association with claims and payments