|
|
|
Search
10/28/2021 Paul Kesselman, DPM
Payers Increased Use of Electronic Payments (Ron Werter, DPM)
Just to be clear, I am all in favor of receiving electronic EFT payments, so long as it as at no charge to the physician. After all, the carrier is saving on first class mail + envelopes, saving trees and lower personnel costs associated with mailing those EOBs and avoiding lost checks. What I am against is the carriers charging providers for the "privilege" of receiving electronic payments and further charging to print the EOB. EFT payments should be FREE to the provider as should be the ability to print the EOB. The carrier is saving almost a dollar in costs for every check they send out and then they want to charge the provider to receive payments?
I am not sure if the banks charge the carriers any fees to do EFT, but likely if they do it is minimal as the insurance carriers carry large credit balances with the banks. Since the banks are electronically sending you the $$$, they also have no postage or handling fees. More recently, many carriers, rather than doing EFT, are cozying up to the credit card companies, and likely being paid a royalty to use their services and then to add further insult, the credit card companies want to charge the provider for the privilege of receiving our money. Even if the carriers pay the credit card company a fee, it is likely nominal as compared to paper checks.
Doesn't anyone see anything wrong with this equation? Isn't this just another area to squeeze the provider. I say yes to electronic payments but NO charging to providers to receive those payments. The carriers are saving enough on their end by not having to incur costs associated with paper checks. Enough is enough!
Paul Kesselman, DPM, Oceanside, NY
There are no more messages in this thread.
|
|
|
|