Tuesday, July 16, 2024, 3:03 PM
Site: Healthy Connections Medicaid E-Learning
Course: Learning Resources (Learning Resources)
Glossary: Glossary

EFT Agreement

EFT (Electronic Funds Transfer) is the legal contract which covers any transfer of funds that is initiated by electronic means, such as an electronic terminal, telephone, computer, ATM, etc.

Electronic Data Interchange

(EDI) is the structured transmission of data between
organizations by electronic means.

Electronic Remittance Advice

(ERA) - Allows providers to receive information concerning payment in an electronic format. ERA provides details on how claims were paid or why they were denied.

Explanation of Benefits

(EOB) - An Explanation of Benefits (commonly referred to as an EOB form) is a statement sent by a health insurance company to covered individuals explaining what medical treatment and/or services were paid for on their behalf.