A new healthcare electronic funds transfer (EFT) standard went into effect at the beginning of the year, and many healthcare professionals are reaping the benefits of the time and money savings it can provide.

For example, Performance Pediatrics, a small provider practice in Plymouth, Mass.,has been able to increase its EFTs from 65 percent of payments 18 months ago to 90 percent today, thanks to the new standard. Currently, just 9 percent of the practice’s payments come in the form of checks.

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