Key Acronyms and Definitions
EPS (Electronic Payment and Statements): A solution that integrates electronic funds transfer (EFT) and electronic remittance advice (ERA) with a unique payment number for faster, easier reconciliation.
Optum Pay™: The Optum electronic fund transfer program formerly known as Electronic Payments & Statements (EPS)
835 File: A data file that can be uploaded to your practice management system. It is used to report adjudicated claims and contains Electronic Remittance Advice (ERA) information. This is sometimes referred to as a HIPAA 835 file.
ACH (Automated Clearinghouse): An electronic network for financial transactions to facilitate your EPS transactions.
CCD (Cash Concentration and Disbursement): An electronic transaction used to transfer funds between businesses.
EDI (Electronic Data Interchange): The exchange of information for routine business transactions in a standardized computer format.
EFT (Electronic Funds Transfer): The movement of funds by electronic means.
EOB (Explanation of Benefits): A claim processing summary. Has the same information as a Provider Remittance Advice (PRA).
EPRA (Electronic Provider Remittance Advice): Electronic claim processing summary. It is a Word version of the 835 file.
MEOB (Multiple Explanation of Benefits): A document combining more than one EOB representing a consolidated EPS payment.
PRA (Provider Remittance Advice): A claim processing summary. Has same information as an Explanation of Benefits (EOB).
RTN (Routing Transit Number): A 9-digit number that identifies the financial institution where the account is located; the RTN is usually located in the lower left hand corner of your checks, preceding the Account Number.
TRN (Trace Number): This is the EPS payment number.