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Electronic Fund Transfers

About

The waiting room is brimming with patients, mirroring the overflow of your outstanding receivables. Over 30 percent of Americans lack health insurance coverage, and even those who are insured frequently face copayments of up to 20 percent. It's a common scenario for many physicians to fall short in collecting up to 50 percent of the amounts owed to them. In fact, one physician disclosed that a staggering 69 percent of their receivables were overdue by more than 90 days. This often leaves doctors grappling with substantial sums recorded on their books, with the realization that a significant portion of these outstanding amounts may never be recovered.


WE CAN HELP!

EFT allows for electronic transfer of funds from your patient's bank account directly into your account! This electronic transfer process is also known by the following names: Funds Sweep, Direct Debit, Direct Credit, and Direct Deposit, Automatic Checking, Automatic Payment, ACH Processing, etc.

  • EFT MEANS ON TIME PAYMENT

    No waiting for patients to write a check. The patient's account is debited on the due date. Funds are then deposited directly into the clinic's bank account. No more "check is in the mail" excuses.

  • EFT MEANS LESS PAPERWORK

    EFT reduces the need to stuff envelopes and mail invoices. EFT also means no opening of envelopes and running to the bank to make deposits.

  • EFT PROVIDES NSF CONTROL

    Returned items are immediately identified and resubmitted electronically.

  • EFT IS SAFE

    Payments can be made on specified dates and for specified amounts and are electronically tracked.

  • EFT IS AUTOMATIC & CONVENIENT

    Once information is setup in the software, collection of funds becomes automated. Our processing center does all the work and deposits the collected funds automatically into your bank account.

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