- under the Affordable Care Act of 2010 all Medicare payments must be electronic by January 1, 2014.
- If you’re not currently receiving EFT payments from Medicare you’ll be required to complete and submit the CMS 588 EFT form to start receiving them.
- accepting EFT payments from health insurers can save you thousands of dollars annually and speed up payment? The AMA offers an “Electronic Funds Transfer (EFT) Toolkit” to assist you with signing up for EFT payments. For more information visit: ama-assn.org/go/eft
By HBS on October 21, 2011