EFT – Electronic Funds Transfer

Presented by:

Ken Hopper

QA Manager

Co-Presenter:

John Ritchie

Customer Support

Course Outline

• What is EFT?

• Why EFT?

• Benefits of EFT

• Company Configuration

• Screen Access Profile

• Vendor Banking Information\Enabling EFT

• Inload\Outload Vendors

• EFT Payment Process

• CCD+ File

• EFT Confirmation on a Paid Claim

• How does my Bank receive this?

• Void EFT Process

• Refund EFT Process

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What is EFT?

• Electronic funds transfer (EFT) is the electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

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Why EFT?

• Same method used for Direct Deposit.

• The Patient Protection and Affordable Care Act operating rules mandate required this be made available as of January 1, 2014.

• EFT is available in EZ-CAP v6.5.0 and above.

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Benefits

• The benefits of using EFT include:

– Lower operating costs

– Faster reimbursements to Providers/Vendors

– Quicker response times.

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EZ-CAP Screens

Company Configuration

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Choose Financial Type of Checking

or SavingsAdd Routing and Checking

Account Numbers

Add Bank Name and

From Date/To Date (as

needed)

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Screen Access Profile

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Vendor Banking Information\Enabling EFT

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If Banking Information is Default make sure the “Is

Default (EFT)” checkbox is checked

Make sure on Vendor Pg1 Tab that the EFT

Radio Button is checked in the Payment

Options Section

When Deleting Records remember that a Default Record MUST exist and

cannot be deleted as long as EFT is enabled

When Paper/File is enabled then Default EFT

Records can be deleted

Inload\Outload Vendors

• Vendor Inload/Outload will now carry a new value for the Payment Option, which will allow a choice for either Paper or EFT.

• Please see the Vendor Inload Format Guide included with your Release for more information.

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EFT Payment Process

• The payment process will remain the same up until the Generate/Manage Claim Batch Screen.

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EFT button and Bank ID fields have been added

EFT Payment Process

• Once the EFT File is Generated you will save it to send to the bank.

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EFT Button is pre-selected and greyed

out.

Fields and buttons are greyed out as they cannot

be used with EFT.

Generate EFT File button is enabled and

will create the CCD+ File when clicked.

CCD+ File & EFT Outload Format

• What’s on the CCD+ ?

Level 1 – File Header Record Level 5 – Batch Header Record

Level 6 – CCD Entry Detail Record Level 7 – CCD Addenda Record

Level 8 – Batch Control Record Level 9 – File Control Record

For more information regarding the Data Elements, Data Types or Positions of these Records, refer to the EPF Outload Format specifaction.

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Generate the 835

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EFT Trace Number

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EFT Confirmation on a Paid Claim

• Claim Header • Claim Detail

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EFT Trace # can be located on both the Header & Detail

level.

Void EDT Trace Number is located at the Header level.

How does my bank receive this?

• Methods will vary from bank to bank as to how they would like this file received.

• Please confirm with your bank their preferred method of delivery.

• Please note, when getting ready to add EFT to your process, make sure to test with the bank directly before going “live” with the change to help avoid an issues that may arise.

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Void EFT Process

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EFT Can be voided using either the specific Trace Number or the Batch Number for Voiding multiple EFT’s.

Void EFT Process

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The EFT Trace Number can be located in the

Check Register.

Refund EFT Process

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EFT button is required (EFT

Trace Number is optional).

• Refund process is the same as before, will just add EFT button and EFT Trace Number along with Check/EFT Date adjustments in order to locate the EFT payments.

EZ-CAP DEMO

• Now, let’s do a quick demo of the EFT Payment Process to show how it works step-by-step.

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Recap

• What is EFT?

• Why EFT?

• Benefits of EFT

• Company Configuration

• Screen Access Profile

• Vendor Banking Information\Enabling EFT

• Inload\Outload Vendors

• EFT Payment Process

• CCD+ File

• EFT Confirmation on a Paid Claim

• How does my Bank receive this?

• Void EFT Process

• Refund EFT Process

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Thank you!

Questions & Answer

Session

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