Blogs

    Good News for the HIPAA EFT

    By: Melissa Zarzycki on Apr 17, 2014

    HIPAA Electronic Fund Transfer (EFT) is a way to allow providers to conduct electronic payment and remittance advice transactions. January 2014 was the first month health plans were required to comply with new standards and operating rules to make EFT transactions simpler and faster. That same month, more than 8 million health care payments were made using electronic funds transfers through the Automated Clearing House (ACH) Network. The first three months of 2014 showed a thirty two percent increase in EFT transactions identified as health care payments. EFT standards is estimated to lead to a six to eight percent annual increase in the use of EFT for health care payments from 2014 to 2018. Read more to see how EFT leads to savings for health care organizations.

    Released: April 17, 2014, 12:56 pm
    Keywords: Announcements


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