We are considering ePosting here in our office. Our practice has multiple providers that we need to post to. Any feedback on this? Do you like or recommend it? I like the program and information I have seen but wanted to hear from anyone who has used it. Good or bad..
Generally I'd give it a "thumbs up". When the payment is there as planned, then posting is very easy and in addition, the EOB has been posted - an extremely nice feature. Filing secondary insurance when posting the primary eposting is easy as well.
Our experience has shown that some insurance companies (Cigna, for example) don't post their payments to the epostings prior to, or on the same day, as those funds come across in your bank account. Our office goes ahead and posts in the normal electronic posting workflow, instead of waiting those 2-5 days later when that payment appears. Strangely enough, Aetna ALWAYS sends their epostings early - and you have to wait until that specific day, or later, to post.
Also, there are occasions when you have to modify the epayment details in order for it to post correctly. Sometimes it is straight forward. Other times, especially when there is a payment reversal, that you cannot post it, and you need to revert back to the normal electronic posting method.
We try and use it whenever we can, as it does make the posting life much easier, with the above exceptions.
Thank you Ron. I really appreciate your input. My biggest concern is how you will balance at the end of the day. At this point, I have been hesitant to do electronic deposits for that reason too.