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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

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