Understanding EFT enrollment process

ELECTRONIC FUNDS TRANSFER (EFT)

Medicare offers all providers the option of having their Medicare Part B payments sent directly to their bank account via EFT.

There is no electronic claim submission or electronic remittance participation requirement to be eligible for EFT. It is a CMS goal to increase the utilization of EFT and reduce the number of checks printed and mailed. It is now a requirement to enroll in EFT for providers and suppliers initially enrolling in Medicare or who make changes to their enrollment information. EFT is a direct deposit into the provider’s bank account for payments on claims that have finalized and met the payment floor.

This option allows providers to be paid electronically on a daily basis for the claims that have finalized and met the payment floor. This eliminates manual handling of checks and mail time to receive payments.


How to Enroll in EFT
The EFT Authorization Agreement can be downloaded from:
http://www.trailblazerhealth.com/Electronic%20Data%20Interchange/Electronic%20Funds%20Transfer/

A link on the Web site will take providers to the CMS EFT Authorization Agreement. The EFT Authorization is a two-page form that must be signed in original ink by one of the authorized delegated officials on file with Provider Enrollment. It also must be returned to TrailBlazer with a permanent voided check or deposit slip. The EFT authorization should be mailed to:

TrailBlazer Health Enterprises, LLC Provider Enrollment P.O. Box 650544
Dallas, TX 75266-0544
Rev. 08/2009 11 EFT

No comments:

Medical Billing Popular Articles