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Electronic Fund Transfer, on-time payment without the paperwork
EFT moves patient payments straight from their bank account into yours on the due date — automatically, with nothing for your staff to invoice, track, or manually deposit.
Also known as Direct Debit, Direct Deposit, Automatic Payment, or ACH Processing — EFT is the same idea by a few different names: once it's set up, collection runs automatically, and outstanding receivables stop depending on staff following up on every account.
On-Time & Automatic
- The patient's account is debited on the due date and funds are deposited directly into your practice's account.
- Once it's set up, collection runs on its own — funds are deposited into your account automatically each cycle.
Less Paperwork
- No envelopes to stuff, no invoices to mail, and no trips to the bank to make deposits.
Safe & Tracked
- Returned items are identified immediately and resubmitted electronically.
- Every payment runs on specified dates and amounts, tracked electronically from start to finish.
Less busywork, not no work
EFT cuts out the manual parts of collecting payment — mailing invoices, opening envelopes, walking deposits to the bank. It doesn't run itself: patient accounts still need to be set up, and returned or failed transactions still need someone to catch and resolve them.
What changes is where the effort goes — less time on paperwork, more of it on the handful of accounts that actually need attention.