We are pleased to offer InstaMed® for Electronic Payments (EFTs), Remittance Advice (ERA) and more, as a free service to our practitioner community. You have two options for registering to receive EFT/ERA delivery: Complete and submit the InstaMed Network Funding Agreement or visit instamed.com/eraeft and complete the online registration process.
Benefits of InstaMed
- Possible reduction in accounting expenses - By importing electronic remittance advice from the Web directly into practice management or patient accounting systems, the need for manual re-keying is reduced or eliminated.
- Improvement in cash flow - Electronic payments can mean faster payments, resulting in improved cash flow. Paper checks will be discontinued upon enrollment.
- Control of bank accounts - Maintain total control of the destination of claim payment funds; multiple practices and accounts are supported.
- Prompt match of payments to remittance advice - Immediately associate electronic payments with electronic remittance advice. View remittance advice online and print it at your convenience.
- Increase in reporting functionality - Ability to create functional reports that support your internal needs.
- Easier management of multiple payers - Reuse enrollment information to connect with multiple payers. Assign different payers to different bank accounts, as desired.
- Reduction of paper usage - Paper checks will be discontinued by the next pay cycle after enrollment. Paper remittances will be discontinued four weeks after enrollment with electronic funds transfer.
Which inquiries should I direct to the health plan, and which to InstaMed?
Call the health plan for:
- Claim status questions
- Questions regarding the amount paid on claims
- Remittance balancing questions
Call InstaMed for:
- Information on enrollment for ERA/EFT
- InstaMed password reset
- Questions regarding differences between EFT total and amount of bank deposit
- Status of bank deposit
- Changes to administrative contact personnel
- Arrivals/departures of practitioners within your practice