Insurance Claim Submission Methods: Paper, Electronic, and EFT/ERA Compared

1. Paper Claims: Traditional; printed forms mailed to insurer. Slower, higher administrative burden.
2. Electronic Claims: Submitted via clearinghouse or insurer portal. Faster, more accurate, reduces administrative work.
3. Direct Deposit: Insurer deposits payment directly into practice's bank account. Convenient and secure.
4. EFT/ERA (Electronic Funds Transfer/Electronic Remittance Advice): EFT moves funds electronically; ERA provides standardized electronic explanation of benefits and remittance data. Enables fastest, most efficient payment processing.