Author Topic: EFT Payments  (Read 1559 times)

Tameka79

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EFT Payments
« on: June 01, 2016, 03:03:43 PM »
For those of you who already have established Medical Billing Services, I wanted to know if you print out the remittance advice for the providers you service that receive electronic funds transers? I know some providers still recieve paper checks, like the provider I currently work for, but I'm wondering how it is handle when the remittance advice is electronic. 

Also, wiht me starting my own business in a couple months, I would like to know if I need to print them for each client I have or would saving them would be better instead of using all that paper?

Thanks.

Sriram_Sub

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Re: EFT Payments
« Reply #1 on: June 02, 2016, 07:20:43 AM »
I would suggest not to print them all but to just download them as a pdf file or something so that you may share with them periodically or when they need them.
Sriram

Tameka79

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Re: EFT Payments
« Reply #2 on: June 02, 2016, 08:13:32 AM »
Thank you Sriram_Sub.  I was thinking it would be best to save them on an external hard drive or something verses printing them.


Michele

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Re: EFT Payments
« Reply #3 on: June 02, 2016, 08:38:16 AM »
We print them to PDF and email (secure email) to our providers.  That way we save on paper, ink and printer costs, and have a copy saved (we back up our folders with the pdf files).
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RichardP

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Re: EFT Payments
« Reply #4 on: June 02, 2016, 03:21:34 PM »
Michelle - for the benefit of others - can you share what program you use to convert to PDF files and what secure eMail service you use?

Michele

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Re: EFT Payments
« Reply #5 on: June 06, 2016, 10:18:59 AM »
We use ShareFile for our secure email.  We use a free PDF writer called PDF995.  We have to deal with advertisement but it's no big deal.  We could pay a fee for no ads.
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RichardP

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Re: EFT Payments
« Reply #6 on: June 06, 2016, 02:44:30 PM »
Thanks.

Tameka79

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Re: EFT Payments
« Reply #7 on: June 09, 2016, 10:58:51 AM »
We print them to PDF and email (secure email) to our providers.  That way we save on paper, ink and printer costs, and have a copy saved (we back up our folders with the pdf files).

Thanks Michelle! I have a follow up question.  How do you know or how can the provider know that what the Electronic EOB that you post and what is actually posted in their account is the same? I have had a problem with Medicaid in my area where they said they paid an amount, but when I looked to see if it was deposited into the bank account it wasn't.  Right now I have access to seeing the back account because I also do reconciliations in my office, but when I start my company I presume I will not have access to this.

Michele

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Re: EFT Payments
« Reply #8 on: June 10, 2016, 11:55:44 AM »
The last page of the ERA has the amount.  The provider would have to verify to make sure that amount was actually received by his bank.  We don't have access to their bank accounts.  They have to notify us if they don't get a deposit or if it's not the same amount.  We have not had any issues for the most part.
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PMRNC

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Re: EFT Payments
« Reply #9 on: June 10, 2016, 02:59:06 PM »
My clients send me a bank accounting weekly and we rectify the accounts weekly to make sure they match.


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