With access to the EFT & ERA App it is essentially “do it yourself” practice management consulting, that will supply the syllabus, instructions for setting up EFT for receiving payments electronically, and guidance on how to institute this technology driven insurance payment system.
In short the App is engaging the Provider, clearinghouse and payer in simplifying the Dental electronic payment set up and to complete the enrollment process with all partners, with the step-by-step guidance, tools, support, and accountability you need to achieve better cash flow.
With all the new technology in dentistry to become digitized, there is a need for efficiency, achieving decreased expenses, EFT & ERA technology system investment, and expert assistance for productivity and cost effectiveness. Sending “clean claims” takes expertise, time, clinical knowledge and hours to follow-up. Data from Remits and EOB’S/EOP”S, create in real-time EDI 835 files that streamline the processing of Dental payments in a more efficient process.
The underlying factor necessary in operating a dental office is cash flow.
The main trend in EFT & ERA is toward technology for providers and payers that is easy to use, cloud-based to be accessible from home offices, and customizable to each payer network’s needs. EFT without ERA is an administrative suicide. You need both to achieve administrative simplification. These needs will become even more varied for each provider differently.
The dental profession faces a number of emerging Insurance changes and challenges which forces practices to stay informed on how to implement these changes. Practices need to keep up with this roll out of virtual credit card payments. Basically these VCC payments are insurance companies forcing practices to make a decision on how to receive payment.