ERA Accuracy Rate

Benchmarking Report

ERA Accuracy Rate

This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring ERA Accuracy Rate. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.

What is ERA Accuracy Rate?

The total number of initial electronic remittance advice (ERA) claim denial or adjustment messages provided by the insurance company that include accurate adjustment messages and/or denial reasoning divided by the total number of ERA messages sent by the insurer to healthcare providers over the same period of time, as a percentage.

Why should ERA Accuracy Rate be measured?

Electronic Remittance Advice (ERA) Accuracy Rate measures the percentage of initial ERA claims denial or adjustment messages sent to healthcare providers that contain accurate information regarding possible claims adjustments and/or denial reasons. ERA messages typically include information related to the adjudication of a medical claim, including reasons why the claim might have been denied (e.g., missing information, patient not eligible for services, etc.) and how to potentially correct that issue(s) to garner an approval. A high rate of unclear or unactionable ERA messages may create additional work for the healthcare provider and the claims processing function of the insurance payer. A high rate of inaccurate ERA messages can greatly diminish customer service levels, lead to rework and reduced capacity within the claims function (and for administrative functions within healthcare providers), and may lead to costly disputes with healthcare providers (e.g., doctors, hospitals, etc.).

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Frequently Asked Questions

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A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years conducting original research and anonymizing data from our engagements with top companies around the world. Every single data point we collect is scrutinized by our analysts to conform to established baselines and our rigorous in-house validation process. We won’t serve it up to you unless it meets our tough standards for utility and value.

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A: Enough to produce a useful benchmark. And rest assured that it’s all current, validated, and useful. We only include data that’s been collected in the last five years. And while sample sizes vary by KPI, the average is 25, and the high end can surpass 1,000.

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