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What ERA and EFT Mean

Electronic Remittance Advice (ERA) is the digital version of an insurance EOB. Instead of arriving by mail, it’s delivered straight to your Practice Management Software, clearinghouse, insurance portal, or ePayments center. Electronic Funds Transfer (EFT) is direct deposit of insurance payments into your bank account — no paper checks, no virtual credit cards.

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Why DayDream Enrolls Every Practice

ERA and EFT enrollment is standard for all DayDream practices because it’s how we deliver accurate, timely revenue cycle support at scale. Once you’re set up, you’ll see:
  • Faster insurance payments via direct deposit
  • Less mail handling and manual scanning of paper EOBs
  • Fewer posting delays from mailed checks or portal-only remittances
  • No virtual credit card (VCC) fees wherever we can avoid them
  • Cleaner reconciliation — bank deposits match directly to ERA details
We prioritize fee-free EFT enrollments. If a payer only offers a fee-based option, we’ll check with you before moving forward. If you already have EFTs in place, we’ll review them and switch fee-based ones to fee-free where possible.

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What We Need to Get Started

Two items are required before enrollment can begin. In many cases, these are already collected when you complete your onboarding forms — if so, no action is needed on your end. If anything is missing, your Enrollments Manager will reach out.
  1. A completed W-9 — must be the most recent IRS revision. You can download the current form directly from the IRS website.
  2. A front and back image of a voided check. The check must be completely blank — no handwriting, no signature, no amounts, and no payee information. The only thing written on it should be the word “VOID” across the front.

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What Happens During Enrollment

Your Enrollments Manager will:
  • Prepare and submit enrollment requests for your top payers
  • Track status and follow up with carriers
  • Notify your office if anything is needed from your end
Enrollment typically spans several days to several weeks depending on the payer.

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When Your Office May Be Contacted

Some payers require office-level verification before approving enrollment. This is normal and protects your practice. You may receive:
  • A verification phone call
  • A verification or confirmation email
  • A payer-specific step like ECHO identity verification or a short attestation
If contacted, you may be asked to confirm your practice TIN or NPI, banking information, and that DayDream is authorized to assist with enrollment. Please share your Enrollments Manager’s contact info with anyone in your office who answers phones or manages email. Quick responses are the single biggest factor in avoiding delays. If you’re ever unsure how to respond, contact your Enrollments Manager first.

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Temporary ERA Behavior During Enrollment

If your practice already receives ERAs, expect some short-term changes while updates process. Depending on the payer, ERAs may briefly:
  • Pause during review
  • Continue routing through your previous clearinghouse
  • Revert to paper EOBs
  • Route through a payer portal
These are payer-specific and resolve once enrollment is approved.

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Questions

Reach out to your Enrollments Manager anytime. The contact details are in your kickoff email.