What is an electronic funds transfer (EFT)?

Electronic funds transfer is a payment method utilizing electronic means (as contrasted with paper checks) to transfer monies between parties.  EFT payments are available on the date the payment is credited to the provider’s account (avoiding postal delays) and may reduce administrative steps associated with issuing or depositing payments.  When a healthcare provider enrolls to receive claim payments electronically, payer claim payments are distributed via the Automated Clearing House (ACH) Network directly into the provider’s designated bank account.  The ACH Network is a highly reliable and efficient nationwide electronic funds transfer (EFT) system governed by the NACHA Operating Rules. (NACHA-The Electronic Payments Association (formerly the National Automated Clearing House Association) is an electronic payment system organization.)

What are the benefits of EFT?

• Providers generally receive EFT payments faster than paper-mail distributed checks.
• EFT is a fast, accurate, secure and efficient means of payment delivery.
• EFT can reduce the daily workload of the Accounting staff and the practice’s operating costs.
• EFT virtually eliminates manual handling of checks.
• EFT saves staff time, no more trips to the bank, and easier payment/bank reconciliations.

Will providers receive quicker payments if they sign up for an EFT program?

Providers typically receive their EFT payments faster than they would receive a check via the mail. Funds are available on the date the payment is credited to the provider’s bank account.

Will the provider be charged any service fees for the EFT process?

One of the benefits of EFT is that it can save your business time and money.  Actual EFT transactions are free to the Provider for all of our Payers.

As an added benefit, our EFT service is paired with Emdeon Payment Manager Search, View, and Print edition. This application allows Providers to view, search, and print remittance information related to electronic payments via an online, easy to use application. For those Providers who wish to utilize a postable 835 remittance file, these can be obtained by upgrading to Payment Manager Deluxe edition. Please talk with your sales representative about this product and your information will be routed to our Provider Sales department for a follow up call to discuss options for 835 delivery. Please note that Emdeon today processes over 400 Payers’ 835 files through our clearinghouse distribution channel.

If providers use a billing service, clearinghouse or other entity to submit their claims and collect the receivables, can they still participate in an EFT agreement?

Yes, Providers will be required to enroll for EFT services directly with Emdeon through the mechanisms described previously in this FAQ.

Will the EFT agreement allow Emdeon or the health plan payer to make debit or adjustment entries to a provider’s account without authorization?

In the event of an inaccurate transaction, Emdeon reserves the right to reverse an EFT payment within 48 hours and in accordance with NACHA rules and regulations.

How do providers receive more information on Emdeon’s ePayment program?

Visit www.emdeonepayment.com to learn more about Emdeon ePayment services or to request additional information.

How many payers is Emdeon currently distributing health claim payments on behalf of?

Emdeon processes payments and remittance information on behalf of over 900 payers.  Emdeon is actively working with its 900+ payers to display and distribute remittance and payments electronically.  To view the list of payers that Emdeon currently distributes electronic payments on behalf of as well as displays remittance images online, please click here.  Please select EFT, ERA or Remittance Image under “Service” to view the current list of payers.

Do providers have to complete a separate EFT agreement for all health plan payers?

By enrolling for Emdeon’s EFT program, the provider is signing up to receive electronic payment distribution for all payers participating in Emdeon’s EFT program.  Some payers may require additional payer specific enrollment.  The following Payers currently require specific Bill To/Legacy Payer ID’s to be submitted for successful EFT Enrollment.

***Providers interested in receiving electronic payments from MDwise Health Alliance are required to submit their Indiana Health Coverage Program Medicaid ID number(s), not Payee ID number. 

More information can be found on Attachment 2 of the ePayment EFT Enrollment Form, available via the ePayment website.

Can the Emdeon EFT solution support payment distribution to multiple bank accounts under the same Provider Tax ID?

Yes, we do have Payers who supply payment data that currently supports this level of payment distribution.

Will providers continue to receive paper remittance statements once EFT is implemented?

By enrolling for EFT, the provider is authorizing electronic deposit in the place of a live check and paper remittance. Upon successful enrollment for the EFT service, there is a 60 day transitional period during which EFT’s will be deposited into the desired account(s) while delivery of the paper remittances are continued. At the end of this 60 day period, the delivery of printed remittance advices will cease. Providers can customize their specific paper shut-off preferences by calling Emdeon Enrollment Support: 866.506.2830, Option 2.

Will the provider be able to access the associated remittance advice?

Providers can view the print image of the remittance advice via Emdeon’s provider application, Emdeon Payment Manager.  Providers viewing remittance information via Emdeon Payment Manager will continue to receive their printed and mailed remittance advice, unless they opt to view paper remittances via Emdeon Payment Manager and shut off paper.

How do providers initially enroll for the EFT program?

Sign up is simple. Providers can choose from the following options for EFT sign up:

• Option 1: Use the ePayment website to download the EFT agreement forms. Simply complete the forms and mail or fax to Emdeon for processing. Access the ePayment website by clicking here and following the instructions.
• Option 2: Contact the Provider EFT Growth Team by calling 866.506.2830 and selecting Option 1. They will be able to assist you with the contracting process.

Once signed up, who should providers call for information related to enrollment?

For questions related to EFT enrollment, please call 866.506.2830 and select Option 2.

Where should providers go if they have some questions or need to make some changes to their accounts?

To change accounts or banks, an authorized individual will need to contact the EFT Enrollment Support group by calling 866.506.2830 and selecting Option 2.

Who should providers contact at Emdeon about ePayment-related questions?

Provider inquiries about Emdeon ePayment and Emdeon Payment Manager should be directed to one of the following numbers:

How will the provider know if their financial institution’s routing and transit information is established?

In order to certify the accuracy of financial information that is provided to Emdeon, a minimal amount deposit transaction will be processed to the Provider’s account to ensure all financial routing and transit numbers actually exist.  Upon confirmation of the deposit amount, if the Provider is an existing Payment Manager user, their services will be enabled under the assigned account. If they are a new Payment Manager user, they will be given a username and password for their new account. Please allow 5 to 10 business days to verify Provider bank accounts and ensure all the security measures are taken.

Once the enrollment form is faxed/mailed, how long until the provider receives an EFT payment?

Emdeon will deposit one minimal amount (deposit transaction) in your designated bank account within 5 business days of submitting your completed contract forms. Providers will receive a call from an Emdeon Enrollment Representative. They will be asked at that time to confirm that a small deposit has been made in their enrolled bank account for verification purposes (deposit will be from Emdeon with the reference note "EFT Enroll"). Upon confirmation of the deposit amount, if the Provider is an existing Payment Manager user, their services will be enabled under the assigned account. If they are a new Payment Manager user, they will be given a username and password for their new account. Please allow 5 to 10 business days to verify Provider bank accounts and ensure all the security measures are taken.

How can a provider terminate an EFT agreement?

The authorized individual who enrolled for EFT and has access to the provider account at Emdeon can suspend their EFT enrollment by contacting Emdeon EFT Enrollment Support: 866.506.2830, Option 2.