Electronic Fund Transfer (EFT)

SEE YOUR SAVINGS USING OUR ELECTRONIC FUND TRANSFER (EFT).

Instructions: Complete the fields listed under “Enter Your Numbers Here”. Do not use decimals. To request a detailed analysis of EFT and/or complete billing cost analysis for your practice, please contact us today!

Electronic Fund Transfer	Average Provider Without EFT	Average Provider Using EFT	Your Numbers With EFT
Number of Outstanding Accounts Annually	100	100
Average Outstanding Balance Per Account	$400	$400
Total Amount of Money Outstanding Annually	$40,000	$40,000
Percentage of Outstanding Balances Never Recovered	45%	3%
Annual Lost Revenue from Accounts Not-Collected	$18,000	$1200
Revenue from Outstanding Accounts Recovered Annually Using EFT	$16,800
Number of Patients Rejected Annually that Cannot Pay but Would Have Qualified for EFT	40%	0	0
Average Amount Billed to Each New Patient	$700	$700
Annual Revenue Lost Due to Rejected Patients as a result of Credit Risk	$28,000	$0
Revenue From Credit Risk Patients Annually using EFT	$28,0000
Total Combined Income From EFT Annually (Outstanding Balances + Credit Risk Accounts)	$44,800
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Electronic Fund Transfer (EFT)

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