EDI Services
Electronic remittance advice (ERA) cost analysis
Based on customer experience the return on investment from using SecureConnect Remit for Electronic Remittance Advice and Processing is an annual savings of over $4,500 with 1 provider and over $18,000 with 5 providers. The cost of posting payments manually and using electronic remittance advice and processing, assuming 1, 3 and 5 providers, is outlined below. SecureConnect Remit [Learn More].
Assumption - 1 provider
|
1 Provider* |
Without ERA |
With ERA |
Savings |
|
Monthly Cost |
$ 400 | $20 | $380 |
| Annual Cost | $4,800 | $240 | $4560 |
|
*Assumes that 1 employee spends 2 hours per day posting EOBs. |
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Assumption - 3 provider
|
3 Provider** |
Without ERA |
With ERA |
Savings |
|
Monthly Cost |
$ 800 | $60 | $740 |
| Annual Cost | $9,600 | $720 | $8,880 |
|
**Assumes that 2 employees spend 2 hours per day posting EOBs. |
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Assumption - 5 provider
|
5 Provider*** |
Without ERA |
With ERA |
Savings |
|
Monthly Cost |
$ 1,600 | $100 | $1,500 |
| Annual Cost | $19,200 | $1,200 | $18,000 |
|
***Assumes that 4 employees spend 2 hours per day posting EOBs. |
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