Many medical and dental offices operate on tight budgets, so every dollar counts more than ever. ACH can help. Learn how to tap into the ACH Network and use Direct Deposit and Direct Payment to free up time, and save money and energy to help you grow your practice while keeping your cash flow consistent and easy to forecast. Quickly and easily process electronic benefit claims, and also use it for payroll and for your business to pay bills.
ACH Can Lower Costs
An EFT is an electronic funds transfer where the claim is deposited directly into a medical/dental provider’s bank account. It eliminates the need to take anything to the bank to be deposited and cuts down on the amount of staff time needed to process claim payments. EFT claim payments are ideal for medical practices of any size, especially smaller ones where time and personnel are at a premium. Switching to ACH, or EFT, as it’s also known, gives practices the opportunity to save as much as 50% on claim payments.
Save the hassle and added expense of writing and mailing a check. With ACH, businesses—including medical offices—can lower overall costs vs. other payment types.
According to the American Dental Association, an “EFT is the best way to ensure secure and timely claim payments from dental benefit plans.” Check out success stories by several dentists and start to benefit from EFTs.
According to the 2021 CAQH Index, more than 74% of medical claim payments were made electronically, an increase of 4% over the prior year. The increased use is attributed to practitioners spending down time reconciling past due payments, and billing more regularly for telemedicine visits to help offset the loss of revenue experienced early in the pandemic.
When Dental and Medical Practices Are Also Small Businesses
If your practice is also a small business, learn how to tap into the ACH Network for Direct Deposits and Direct Payments to free up time, money and energy to help you grow your business. Quickly and easily process payroll and pay bills, while ensuring your cash flow remains consistent and easy to forecast. Learn more.
- The ACH Quick Start, a tool for your business to learn how to pay or get paid by other businesses electronically via ACH for business-to-business and consumer payments.
- A Nacha electronic bank transfer expert can provide no-cost assistance. We can answer your questions and even provide a free consultation to help you begin accepting donations by electronic bank transfers. Learn more.