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Providers Must Agree to EFT for Medicare Payment

  • By
  • In Billing
  • January 27, 2012
  • Comments Off on Providers Must Agree to EFT for Medicare Payment

Providers and suppliers have until March 31 to comply with the new Health Insurance Portability and Accountability Act (HIPAA) transaction standards for submitting claims electronically, and can even opt out and continue to submit paper-based claims if they so choose. If they want to get paid, however, they’ll have to accept the wave of the future.

Part B Medicare administrative contractor (MAC) Palmetto GBA posted on its website Jan. 25 the following statement:

“Existing regulations at 42 CFR 424.510(e)(1)(2) require that at the time of enrollment, enrollment change request or revalidation, providers and suppliers that expect to receive payment from Medicare for services provided must also agree to receive Medicare payments through electronic funds transfer (EFT). Section 1104 of the Affordable Care Act further expands Section 1862(a) of the Social Security Act by mandating federal payments to providers and suppliers only by electronic means. As part of CMS’ revalidation efforts, all suppliers and providers who are not currently receiving EFT payments are required to submit the CMS-588 EFT form with the Provider Enrollment Revalidation application, or at the time any change is being made to the provider enrollment record by the provider or supplier, or delegated official.”

No Responses to “Providers Must Agree to EFT for Medicare Payment”

  1. Mike Adams says:

    Not sure if there are any problems with EFT payments, but thinking that Medicare will somehow mess things up or make some difficult extra demands. They have establish such ridiculously low authorizations on important medical supplies that recipients need to help lead a normal, dignified life, so thinking there has to be more of a catch somewhere with the EFT.

  2. Jay Rosmarin says:

    Have not seen or found any major issues with Medicare EFT payments fot the 50+ providers whose claims we manage.
    Unfortunately, I cannot offer the same positive answer for EFT services with commercial carriers such as Aetna.

  3. DAVID SHARP says:

    This office is having nothing but problems with Palmetto and its EFT and revalidation process. Palmetto does not have adequate staff to process changes. It has been 3 months since we have received any Medicare payment. This office is preparing a complaint both to CMS and to our Congressional Representatives regarding this problem.

  4. srinivasan pillai says:

    EFT processing is very slow first of all.I dont know why they force people to accept EFT and then the processing is so long drawn.I have never anything ridiculous like Medicare.

  5. Susan Dantes says:

    this has to be a violation of our human rights. How can anyone, govt included, require us to give out our banking information and insist that we be paid electronically.
    This law is not for the benefit of providers and saving providers money…this is as usual about what is best for the state, govt. and insurance companies…how did this happen and when will insurance companies stop getting priority in our govt. It is political crime as usual.