HIT Think The New EFT Standard And Automatic Reassociation

Published
  • May 14 2014, 10:56am EDT

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

In the past, the lack of an EFT standard placed a heavy burden on providers. Providers interested in receiving EFT payments had to deal with a variety of enrollment procedures, and transactions were often delayed. There was also no standard for reassociation of data¬ómaking it difficult to match payments with claims.

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