An EFT is an electronic funds transfer where the claim is deposited directly into a 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.
According to the American Dental Association, an “EFT is the best way to ensure secure and timely claim payments from dental benefit plans.”
EFTs Save Time
EFTs Lower Costs
Independent analysis has concluded EFTs can dramatically lower claim payment costs for dentists.
How to Start Benefiting from EFTs
Almost all insurance plans offer EFTs for receiving claim payments, and the American Dental Association has created a checklist for dentists to begin receiving EFTs. It includes several resources to help dental providers to begin receiving EFTs for claim payments.
For more information about EFTs and the ACH Network, contact Nacha.
Success Stories from Dentists Using EFTs
Read about dentists who have benefited by converting to claim payments by EFT.