cancel
Showing results for 
Search instead for 
Did you mean: 
kevinlund
Canine III

Re: Reconciling EFTs from Insurance Companies

When processing a day sheet, I check and see if there are any EFT's listed. I then scan the daysheet and enter each line item INDIVIDUALLY in my quickbooks. Because the daysheet doesn't let you know which ones might be listed together as a bulk payment. Then, when reconciling the checkbook, I have to realize that the $372 deposit on 2/17 is actually a combination of three line items that were posted in Softdent on 2/24.

Piece of cake!

(To be clear: This is sarcasm. However, this is the process I use to reconcile by statements.)

0 Kudos
Reply
suzanne
Canine III

Re: Reconciling EFTs from Insurance Companies

Teri,

At last count, we have 90 companies that send us EFTs.  Do you check ALL companies every morning? Or do you first check your bank account?  Since I have online access to the bank account I am able to do that, but I don't think staff should have access to the bank account.

0 Kudos
Reply
CS Dental Employee
CS Dental Employee

Re: Reconciling EFTs from Insurance Companies

WOW!! 90 companies 

0 Kudos
Reply
suzanne
Canine III

Re: Reconciling EFTs from Insurance Companies

I am the bookkeeper so I have my own office.  I work about 12 hours per day and sometimes on weekends.  I can't do this forever!  Which is why I was hoping there was an easier, more efficient way of managing this mess.

0 Kudos
Reply
CS Dental Employee
CS Dental Employee

Re: Reconciling EFTs from Insurance Companies

I cannot stress how helpful it is to post a bulk insurance check Payment in SoftDent for the large ins check EFT 

this way it shows as one check while posting and you cannot post without balancing. this way you only need to enter the check information, 1 time 

Wendy

elavid
Canine II

Re: Reconciling EFTs from Insurance Companies

I was informed that if you weren't signed up for EFT's before a specific time frame, the EOB's would NOT be sent to you via fax. I had mentioned this to the representative at Metlife when inquiring about signing up for EFT's. Through previous experience with a different office, I knew that the EOB's would arrive via fax every morning and that is how I wanted to receive notification of a payment being post for a particular patient. However, when speaking with that representative she said that they no longer send EOB's via fax unless you were "grandfathered" in. Everything now would come via logging into their website to get the appropriate EOB. Our office did not sign up for EFT's because of this.  

0 Kudos
Reply
roeser
Canine II

Re: Reconciling EFTs from Insurance Companies

I have saved the EFT companies to a favorites page (only have about 6)  I have 1 company Change Healthcare that combines many others to 1 website.  It will show many companies on that page, so it does streamline things.

0 Kudos
Reply
kevinlund
Canine III

Re: Reconciling EFTs from Insurance Companies

OK, we use the ePayments viewer whenever possible, but I'm a bit confused about your statement: "it shows as one check while posting and you cannot post without balancing." Where can you see EFT payments broken up by check? On the daysheet, you can see the number of EFT payments and total ("3 for $372"), and each individual payment broken up by patient. But where do you get them by check?

0 Kudos
Reply
CS Dental Employee
CS Dental Employee

Re: Reconciling EFTs from Insurance Companies

send me a quick email

wendy.potts@csdental.com

I will email you the steps to post a bulk check

0 Kudos
Reply
Highlighted
drcavola
Premolar III

Re: Reconciling EFTs from Insurance Companies

It is very apparent that not only do they insurance companies need to get their act together in regards to EFT's, ERA's and the like, but also our beloved Softdent is woefully lacking in the ease and efficiency in handling these electronic items back from the insurance companies.  The "epostings", or formally ERA, has been available for ... probably 6-8 years, and is in need of a major overhaul.  Someone earlier mentioned Cigna and the epostings.  For some years now, in our office the Cigna EFT comes in on Thursday.  But the Cigna epostings for the corresponding EFT does not show up until 4-6 days later.  That is not helpful.  Also, there is such a thing in the electronic world as a reversal of payment, and that is IMPOSSIBLE to post.  

Bottom line - yes, ALL the electronics are easy when the systems work as planned.  When it does not, then life in the dental office is miserable.