Electronic Funds Transfer

• Reduces collection costs while providing recovery rates as high as 96% to 99%
• Increases accounts receivable staff productivity
• Decreases bad debt assignment

Electronic funds transfer (EFT) is growing in popularity as a quick and easy way for patients to clear up outstanding medical services debt. A pioneer in EFT for medical collections, the HRMG Division of CMRE works with more than 50,000 banks and financial institutions nationwide to provide EFT payment options for hundreds of healthcare organizations throughout the United States. Once a patient is enrolled in our EFT program, your work is virtually done. And because EFT payments are processed before any other payment method, the probability of being paid is greatly enhanced. Our clients have experienced a 96% to 99% payment rate on all accounts enrolled for EFT payments.

Highlights include:

• Exclusive hospital and healthcare services provider experience, which ensures effective integration with collection environments that are unique to the healthcare marketplace
• Thorough enrollment and reporting procedures that minimize the need for healthcare organizations to interact with the collection process
• Comprehensive monitoring and follow-up to ensure that patient EFT payments are established and ongoing
• Electronic remittance and payment postings