Overview

After a payer adjudicates a claim and sends an 835 Electronic Remittance Advice (ERA), they pay the provider through either a physical check or an Electronic Funds Transfer (EFT). Stedi Treasury helps you manage inbound payments in one place:

• Electronic Funds Transfer (EFT): Stedi Treasury has built-in support for receiving EFT payments. In the Stedi portal, you can review incoming payments, link them to their corresponding 835 ERAs, and track payouts to your bank account.
• Paper checks: Stedi Lockbox (private preview) processes paper checks and deposits them through Treasury. You can review check images and track deposits in the Stedi portal alongside EFT payments.

Contact Stedi Support to request access to Stedi Treasury and Lockbox.

Stedi Treasury

Stedi Treasury consolidates payments into the same platform you use for claims and 835 Electronic Remittance Advice (ERAs). Treasury automatically links each payment to its corresponding ERA in the Stedi portal and deposits funds directly to your bank account.

Benefits

Treasury includes:

• Managed enrollments: Providers must complete transaction enrollment with payers before they can receive Electronic Funds Transfers (EFTs). Stedi helps manage the entire process, including generating voided checks, bank verification letters, validating micro-deposits, and responding to payer verification requests. We can complete most of these steps independently, contacting you only when necessary. This removes most of the administrative burden from the standard multi-step enrollment process.
• Automated reconciliation: We automatically match each payment you receive to its corresponding 835 ERA, eliminating manual reconciliation work. We also charge fees separately to ensure the payment amount you receive matches the amount the payer sent.
• Direct deposit: We handle setting up a Stedi Treasury account, an FDIC-insured bank account for your business, that holds incoming funds from the payer. From there, your payout is deposited directly to your external bank account.
• Broad payer coverage: Hundreds of payers support EFTs through Treasury, with new payers added weekly. Visit the Payer Network for a complete list.
• Guided setup: Complete business verification, link your external bank account, and submit EFT enrollments in minutes through the Stedi portal.

How it works

1

Request access.

Contact Stedi Support to request access to Stedi Treasury. After review, Stedi can enable Treasury features in your account.

2

Set up Treasury.

Complete the setup process to start receiving payments.

• Create a billing entity for each legal entity that receives payments.
• Connect your external bank account for payouts.
• Complete EFT transaction enrollment with each payer.

Learn more in Set up Stedi Treasury.

3

Manage payments.

Track payments and payouts in the Stedi portal.

• Stedi processes incoming payments from payers. These payments appear in the Stedi portal as Pending, then Received once funds settle.
• Stedi processes settled payments and initiates payouts to your linked external bank account.
• You can review payment and payout details in the Stedi portal and view links between payments and their corresponding 835 ERAs.

Learn more in Manage payments.

Stedi is a financial technology company, not a bank. Banking services are provided by Grasshopper Bank, N.A., Member FDIC. The FDIC's deposit insurance coverage only protects against the failure of an FDIC-insured bank.

Lockbox (private preview)

Stedi handles paper checks from payers and helps convert them to direct deposits. You can view check images and track deposits in the Stedi portal alongside your Electronic Funds Transfer (EFT) payments, keeping all your payment information in one place.

When a Stedi Lockbox receives a paper remittance, such as an Explanation of Payment (EOP) or Standard Paper Remittance (SPR), Stedi also makes it available in the related Stedi account as a PDF. Each PDF includes optical character recognition (OCR) text, so you can process the contents downstream.

Contact Stedi Support to request access to the private preview.

Next steps

Set up Stedi Treasury

Configure your billing entity and external bank account. Submit Electronic Funds Transfer (EFT) transaction enrollment requests for each payer.