Optum EPS is a free electronic funds transfer (EFT) and electronic remittance advice (ERA) service brought to you by UnitedHealthcare. It is the standard method for receiving payments and explanation of benefits (EOBs)/remittance advice from us.
EPS delivers electronic payments and provides online remittance advice and 835 files to health care providers, hospitals or facilities.
If you use a billing service company, EPS created a new portal, just for third party billing service companies. The billing service first needs to enroll for EPS access at: Optum.com/enroll.
After your billing service enrolls, they are able to set up users on their EPS account and then associate their EPS account with your practice. This enables them to access the claim payment information needed to post and close claims.
You may make electronic payments by direct deposit or EFT into an organization’s bank account or by Virtual Card Payment (VCP). With VCP, you do not need your bank account information as you process payments like a credit card transaction. To receive capitation payments by EFT, we require a signed EFT Payments form, detailing the bank account and bank routing information. The EFT initial set-up, or a change in banking information, requires three weeks processing time to take effect.
Posting and Balancing With EPS with Direct Deposit:
Enroll with your clearinghouse to receive the 835 file from them.
Process VCPs using the same method your organization uses to process credit card payments. Your current credit card processing fees apply. You can confirm those rates with the merchant processor directly.
Posting and Balancing with VCP:
To learn more about EPS and to receive electronic funds transfers, visit optum.com/enroll. If you have questions about EPS, direct deposit, VCPs or enrollment, call us at 877-620-6194, to speak with an EPS representative.