An ERA stands for Electronic Remittance Advice. It is the electronic version of the EOB. Clinics must first register with the Insurance carriers to receive ERA. Even though the ERA is received electronically, the payment for the claim can be received by the clinic through various modes like Check, Credit Card or EFT i.e., Electronic Fund Transfer directly to the clinic’s bank account depending on how the clinic has registered with each Insurance company for receiving payment. The advantages of ERA over EOB are that ERAs eliminate the paperwork overload, they are received on the same day and being electronic, eliminate manual data entry and further automates the payment process.