In examining details, the healthcare eFT standard offers some key benefits for physicians and other healthcare providers to consider. • Easy, Automatic Payments – Receiving healthcare eFTs via aCH is as quick as receiving Direct Deposit, because it is Direct Deposit. • Improved Cash Flow – Healthcare eFTs via aCH ensure funds are available up to seven days faster than with paper checks. • Safe and Secure – Checks continue to be the dominant payment form targeted by fraudsters. Replacing all checks with healthcare eFTs via aCH is the single best way to combat fraud. • Automatic Reassociation – Only healthcare eFTs via aCH offers physicians and other healthcare providers the ability to automatically reassociate remittance information in the 835 with the payment. • Consistent with Medicare – Beginning January 1, 2014, medicare will be implementing healthcare eFTs via aCH 32 HBma BILLINg • JaNuaRY.FeBRuaRY.2014 for all claims reimbursements, creating accounts receivable consistencies. • Smart, Cost-Effective Choice – The cost of claims via aCH averages only $0.34 per payment, versus $10.73 or more for other eFT payment types. Billing services should help their physician practices assess the pros and cons of each electronic payment option to ensure the right decision for unique practice needs. For more information on this topic, visit https://healthcare.nacha.org or visit www.ama-assn.org/go/eft to access the american medical association’s eFT toolkit. (Healthcare Electronic Payments Options continued) To see the latest HBma videos on YouTube, go to www.youtube.com/ HBMAbilling
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