Features: Electronic Remittance Advices

       
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Medical aids assess claims on a daily basis, but they only make payments to service providers (i.e. you) on a weekly, bi-weekly or monthly cycle.  During the payment cycle the medical aid compiles a remittance advice, which is a document that reconciles the payment against the original claims that are being paid.

Traditionally remittance advices were printed onto paper and sent to you by post, which is not always reliable.  Many of these are now downloadable as PDF's from the medical aid's website, but logging in and downloading them is still quite a hassle.

When you receive a remittance advice you then capture it's contents onto your practice management software so that affected accounts will reflect the paid amounts.  It is very important, when capturing remittance advices, that each payment is allocated accurately against the original claim transactions.  This makes it is possible to identify unpaid (or short paid) items.  It also makes it possible for the patient to see their co-payments on their next statement.

As you can imagine, capturing remittance advices is a time consuming, laborious and inaccurate process.

Panacea solves all these problems and hassles with Electronic Remittance Advices (or eRA's for short).  Once you have authorized eRA's you will receive remittance advices automatically through Panacea.  You will be notified each time you receive an eRA and you will be able to view it and print it in the normal way.

However, the biggest advantage of eRA's is that Panacea can automatically generate the payments and allocations.  Some people have expressed concerns about this because they feel that they do not have "full control" over how this is done.  But you can relax: Panacea generates the transactions and allocations in a completely "transparent" way.  You can still view and check the generated transactions, and can make changes if necessary.  Only the "donkey work" has been removed.

Note too, that Panacea provides you with detailed warnings in the event of a problem.  For example, if the medical aid has made a mistake and Panacea cannot match a transaction it will provide you with a warning and give full details.

Electronic Remittance Advices are FREE OF CHARGE to Panacea users.

 
 
 
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