Final answer:
An electronic remittance advice (ERA) is provided in an electronic format and details the payment of medical insurance claims. It is used for faster processing and better management of payments, as it replaces the older paper remittances.
The correct answer is option b. electronic format
Step-by-step explanation:
An electronic remittance advice (ERA) is a report detailing the payment of a medical insurance claim, provided to the healthcare provider in an electronic format. Typically, the ERA is received after a claim has been processed by the payer. This communication contains details such as the amount paid, the date of payment, and any adjustments or denials that may have occurred in the processing of the claim. It replaces the traditional paper format, known as a paper remittance advice.
In response to the question, the correct answer is:
The ERA is beneficial as it facilitates faster processing, better tracking, and simplified storages compared to paper remittances.