Remittance advice transaction and health care payment could be either of the two:
EFT also known as electronic funds transfer refers to the electronic message used by health plans, in order to instruct any institution in order to transfer their funds electronically, to the health provider’s account which pays for the health care services. It includes the following information:
ERA also referred to as electronic remittance advice refers to the explanation that is given to a health care provider from a health plan about the payment of claims. An ERA describes the health plan and how it has adjusted the claim charges on the following factors:
