EFT/Clearinghouse/Statements

  • Assess needs for enrollment in EFT for payers, automating statements, and adding or changing clearinghouse services

  • Evaluate clearinghouses to ensure support for majority of health insurers currently being billed

  • Assess clearinghouse availability/need for inquiries for eligibility, claim status, secondary health insurer billing services, and statement printing and mailing

  • Claims submission via practice management software connection vs. DDE (direct data entry)

  • Complete enrollment process to accept electronic remittance advice (ERA) and electronic funds transfer (EFT) payments from health insurers and automate claims process

Average cost of processing clean claims:
- Paper Claim:        $6.63

- Electronic Claim: $2.90

EFT Savings:

Department of Veterans Affairs documents a 71% improvement & time and expenses savings of 64% of accounts receivable tasks*
Companies report savings of more than $0.40 in processing costs for each paper check that is converted to an EFT

Tech Strategics Consulting offering business consulting, marketing, web site developmen and web design of new web sites in Waynesville, NC and Asheville, NC

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  by Tech Strategics

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