The Healthcare Administrative Technology Association (HATA), the national association for the practice management system (PMS) industry, announced today the launch of its new online ERA/EFT Resource Library (www.hata-assn.org). Key industry stakeholders, including the American Medical Association (AMA), CAQH, NACHA, Optum and WEDI, joined with HATA to create a powerhouse of knowledge and tools to break down any barriers for physician practices to engage in full ERA/EFT adoption.
“Physician practices can save both time and money by transitioning from manual to automated processes in revenue cycle management. This is particularly true for remittance advice and claim payment processing,” says HATA President, Chris Bruns. “Think of all the hours that a practice spends on handling and filing paper explanations of benefits (EOBs), opening mail, delivering paper checks to the bank, and manually reconciling payments.”
According to the 2014 Council for Affordable Quality Healthcare (CAQH) Index, practices can save an average of $7.21 per payment by switching from manual to automated remittance and payment processing.
HATA resources on the website include an ERA EFT fact sheet, “Promoting administrative simplification through ERA/EFT Adoption” white paper and “Back to the Future – ERA EFT Future Automation, Realized Today!” webinar. There is also an introductory webinar that explains advantages to adopting ERA and EFT in the physician practice and how it is possible for potential faster payment posting, reconciliation, risk mitigation, and improved workflow.
For more information on HATA, contact Tim McMullen, JD, CAE, Executive Director at (844) 440-4282 or tim@hata-assn.org.
