- Know the three key players in the EFT process (provider,clearinghouse & payer)
- Implement technology that will make office more efficient to achieve Administrative Simplification and to free up front desk to focus on patients
- Create a system of cash flow by 2-3 weeks of production rather than 2-3 months.
- Train staff associated with this EFT system, cost is small, payoff is huge
- Create technology systems to achieve a fast and secure payment turn around cycle. ( within 2-7 days)
- Improve inefficient systems and inaccurate information at the start of the claim process.
- Implement real time eligibility breakdown for patients with insurance scheduled that day, so treatment can be discussed
- Implement digital x-ray attachment systems
- Know the benefit of your clearinghouse and what they offer to save money
- To not be overwhelmed by the growing rules and regulatory requirements of EFT payments
If you can relate to any of these, then perhaps it's time to implement EFT. So your staff will be able to better focus on getting more accurate estimates for your treatment plans, increase production, and be able to schedule treatment while patient is in the office. In addition the rapport between your front office staff and the patients will improve since the stress of dealing with insurance companies and denials have been removed creating a much more trusting and friendly environment to conduct business. You know implementing cash flow systems is critical to building your business, but you struggle with getting the foundation pieces in place of EFT.
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