Are you using the new Electronic Fund Transfers (EFTs)?
Dr. John O’Keefe, Director of Knoweldge Networks at the Canadian Dental Association, spoke with Dr.Benoit Soucy, Director of Clinical and Scientific Affairs at CDA about Electronic Fund Transfers (EFTs)
Listen to the Audio Interview
Current state of the issue
- Insurance carriers are increasingly insisting that dentists take their payments through the Electronic Fund Transfers (EFTs).
- The problem is that each company is doing it in its own way.
- We find that carriers don’t measure the extent of the burden that their change is imposing on dental offices;
- Dealing with a multitude of insurance companies can get burdensome for the dental office: we need to find a way to simplify the process and ensure that EFTs are sent in a similar manner and that reconciliation of payment can be done conveniently.
Carriers should not lose sight of the fact that payments that are sent to the dentists as a result of an assignment are actually payments that are due to their plan members; it is simply a change in the address of the cheque. Sending payment to plan members at no cost while imposing a charge to the dentists who want to continue to receive cheques, because that system works better for their office, is in our view absolutely unacceptable.
Dentists have a right to decide how they manage their office operations and insurance carriers should not attempt to force them into a specific model by imposing unjustified fees.
What CDA is doing on behalf of Canadian dentists
Every time a dentist explores the possibility of moving to EFTs, CDA encourages the carrier to contact us to discuss common problems noticed with other carriers and try to avoid such problems.
Do you have any particular question on this topic? Do you have any comments or suggestions? Email us at firstname.lastname@example.org
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