Are You Receiving Payments Through Standard Electronic Payments?

Change is coming soon to health plans’ claims payment processing.  Beginning January 2014, all health plans must be able to make claims payments to physicians and other healthcare providers using electronic funds transfer (EFT), which is the standard under the Patient Protection and Affordable Care Act (PPACA).  By adopting the healthcare EFT standard, physicians and other healthcare providers will achieve business advantages as well as:

  • Prompt payment of clean claims
  • Decreased processing costs
  • Increased security
  • Time savings
  • Quicker funds availability
  • Business efficiencies
  • Medicare payments
  • Automated association of a payment with its remittance

The Department of Health and Human Services made the decision to adopt the National Automated Clearing House Association corporate payment format “CCD+” transaction as the healthcare EFT standard.  CCD+ works just like direct deposit via ACH, electronically delivering money directly into accounts.  The time savings is built on automation of billing and insurance-related costs with EFT which can reduce time spent on these tasks.  A standard EFT automatically deposits funds into a bank account, saving time on manual processing of paper checks and eliminating the risk of lost or stolen checks. 

Accepting standard EFT payments from health plans is as easy as receiving direct deposits.  Follow these three simple steps:

1.       Contact health plans

2.       Provide payment information to health plans

3.       Receive payments directly in your bank account

Additional support in this process is through CAQH which has created a new tool that enables physician practices to sign up for standard EFTs with multiple health plans at once.  This tool will streamline the EFT enrollment process and minimize the need for physician practices to enroll separately with each health plan. 

Please see the CAQH EFT enrollment tool located here


Please contact the Clinic Service Customer Service Department for more information on electronic funds transfer (EFT). Call us at 303-755-2900.