Share your feedback by taking this brief electronic payment survey April 23, 2015 General Electronic Payment Survey 0 As many payors are shifting from traditional paper checks to alternative electronic methods of payment, provider organizations are growing increasingly concerned that some entities are charging excessive fees for these payments or are using “virtual” credit cards (VCCs), instead of Automated Clearing House Electronic Funds Transfer (ACH EFT). VCCs require the physician to pay a merchant fee ranging from 2-5 percent, typically, to access the funds. This payment methodology, which is often implemented without physician notification or choice, results in lost revenue and increased administrative burden for practices. The American Medical Association, in conjunction with the American Dental Association and Medical Group Management Association, is conducting a brief survey regarding physician experiences with these new electronic methods of payment. If you have experience with virtual credit cards or EFT in your practice, please take this brief survey by May 8 to share your experiences and help bolster advocacy on health plan payment issues. It will take fewer than 5 minutes to complete, and all responses will be kept strictly confidential. Comments are closed.
