Our primary insurance person, as well as myself (office manager), each have our own office. So whichever one of us has to track down these EFT issues can do it without other distractions.
I've found that most of the paperless features make life easier - but this one is on the negative side.
When the ERA comes with the EFT, life is great! The problems arise when either the ERA never comes, or never will come, or (for some bizarre Cigna reason) we get an ERA that says EFT, but then a check appears!
So if you post your EFTs, checks, and credit cards from the day before, do you just assume your Daysheet is always a day off? I try to make sure that all checks/cash/cc's received Today are posted in Softdent Today, and there is a matching bank deposit slip with Today's date on it; the credit card settlement matches what is posted in SD for Today so that we don't get charged the higher fee for delayed settlement.
For the few months that we were taking EFTs from MetLife, it didn't matter to us if we posted the payments to the patients' accounts on the same day that the money showed up in the bank account. It would probably matter to us if we had continued accepting EFTs and had added other insurance companies.
no deposit needed for EFT, its already deposited into you bank account. SoftDent excludes these payments from the deposit slip. Balancing should not be a problem.
We are still on the Softdent version that doesn't handle the insurance credit cards, so I have to call and request paper checks from those companies. I also didn't like the fact that we would have to pay the credit card fees in addition to the PPO write-offs that were taken, so our profit margin was getting chipped away at every turn.
And yes, the process of calling an insurance company to get to the right person is a continuing nightmare that is usually a chain of 3 transferred calls (at least one is a mistake and has to be re-routed), no direct contact with the company's finance department, at least a week to wait for the research to be done and a return call, and a minimum of 2 hours per patient/EFT.
I second your "big problem with EFT's"!
Wendy, I respectfully disagree. EFT's are NOT listed as checks in a similar manner as the deposit slip, however how would one know for sure that your batch of EFT's you posted today were posted correctly????
For example, yesterday we had 8 EFT's posted, code 2.90, for a total of $1389.80. Softdent's daysheet ONLY lists the total at the bottom of the last page, as EFT (code 2.9 and 2.93). How would one reconcile the "batch" of EOB's that correspond with the EFT's with the total of EFT's if the totals were off?
I am still entering everything manually. I don't trust any of the automated processes yet, since I am noticing more often that insurance companies are playing games with the benefits and erroneously denying parts of a claim, which means I have to leave the claim open and send an appeal. I can't tell if it's human error, or if these are computer glitches. For example, we got an EOB from United Healthcare last week where every other line on the claim was denied as a duplicate submission. And of course, it took me 2 hours to get to the right person at UHC who could admit it was an error and then had to transfer me to another person who had the permissions to reprocess the claim. Ugh.
Sorry, it was meant to read "credit cards from the day before" and not to imply EFT's or checks from the day before. Sorry for the confusion.
Thank Dr Cavola
I know they are not listed on a "Deposit like Format"
I would like to see the day sheet have a separate page for EFT payments posted.(this would be ideal)
But it is easy to quickly get these totals
Transactions for a period
enter the date range
enter code 2.90-2.90 (or 2.92 & 2.93)
optional to single out a specific provider
this will help an office balance these payments quickly
it is a work around but I needed to use this until the software changes