decisionhealth Newsletters, Part B News - 2014 Issue 1 (January)
Exercise your right to receive payments electronically from payers, experts say
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Article Overview
This article explains recent payment-technology standards affecting how payers send funds and remittance information to provider practices. It covers the compliance and workflow implications of electronic funds transfer and electronic remittance advice, enrollment considerations, payer participation, security and cost advantages, and enforcement issues discussed by industry experts. The piece is relevant to billing staff, practice managers, and revenue cycle teams evaluating how to streamline claim payment workflows.
Why This Topic Matters
It helps practices understand the broader move toward electronic payer payments and the operational changes needed to take advantage of them. The article also highlights why these standards matter for reducing paper-check handling, improving payment reconciliation, and addressing payer enrollment or compliance barriers.
Article Sections
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Billing
Introduces the payment and remittance topic in a billing context and frames the operational focus of the article.
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Avoid payments on credit, debit cards
Discusses payer payment method trends, provider concerns about electronic card-based transfers, and related cost considerations.
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EFT has security, cost benefits
Covers general advantages of electronic payment workflows, including security, administrative efficiency, and reconciliation support.
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Enforcement challenges
Reviews payer compliance and enforcement issues, including how standards may be overseen and what practices may do if requirements are not met.
What You Will Learn
- How electronic payment and remittance standards affect provider billing workflows
- What enrollment and implementation considerations practices may face when adopting electronic payments
- Why payer participation and enforcement are important to electronic payment adoption
- How electronic payments can influence security, reconciliation, and administrative efficiency
Who Should Read This
- Medical billing professionals
- Practice managers
- Revenue cycle staff
- Provider office administrators
- Healthcare compliance staff
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