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.)

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.

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.

Do providers have to complete a separate EFT agreement from their 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.

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.

As new payers are added, enrolled providers will automatically receive electronic health claim payments from those participating payers and view their remittance images online via Emdeon Payment Manager.  Also, providers enrolled to receive ERAs via Emdeon can view this remittance and payment information online via Emdeon Payment Manager.

Will providers continue to receive paper remittances (Provider EOBs) once EFT is implemented?

By enrolling for EFT, the provider is only authorizing electronic deposit in the place of a live check.  Instead of the current live check, the provider will receive a voided check, along with your paper remittance, since the money has been electronically deposited.  Providers can at any time request to have the paper remittance turned off.

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. 

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?

A provider who uses an entity to perform the practice’s accounts receivable function will need to coordinate with that entity if the provider desires to participate in the Emdeon EFT program.

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 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 via Emdeon’s self enrollment tool.

Who should providers call for information related to enrollment?

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

How do providers enroll in the EFT program?

Enrollment is simple.  To sign up, click here and follow the instructions.

Who should providers contact in the event they are missing their Registration Code? 

Please contact Emdeon’s ePayment Enrollment Support at 866.506.2830, Option 2.  Please be prepared to provide your Tax ID to our enrollment support team representative when requested. 

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 access Emdeon’s self enrollment tool, follow the instructions for resending an Emdeon EFT Authorization form & voided check from the new account.  
 
Once the enrollment request is faxed, 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 completing the information online.  Providers will need to login to the Emdeon self enrollment tool to verify the deposit amount.  You should be setup to receive EFT payments 5 to 10 business days within our receipt of your enrollment form, if all the requested information is present, including verification of deposit amount.  Please allow 5 to 10 business days to verify your bank accounts and ensure all the security measures are taken. 

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 your account to ensure all financial routing and transit numbers actually exist.  Emdeon requires providers to provide a voided check when signing up for the Emdeon EFT process to ensure that the account information provided is verifiable.  In addition, providers will need to login to the Emdeon self enrollment tool to verify the minimal amount deposit transaction made into their designated bank account.  Providers can login to the self-enrollment tool to view the status of their enrollment.

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.  The EFT service is paired with Emdeon Payment Manager, which allows you to view remittance information related to electronic payments.  For an introductory period, Emdeon is offering the EFT solution, along with Emdeon Payment Manager, free for 90 days.  After the 90 days, providers can work with Emdeon sales to opt to purchase Emdeon Payment Manager (Deluxe edition) along with their EFT solution or opt to use the free version of Emdeon Payment Manager (Standard edition), along with their EFT solution. 

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:

Sales Inquiries	866.506.2830, Option 1
ePayment Enrollment Support	866.506.2830, Option 2
ePayment Production Support	866.506.2830, Option 3