Hospitals Could Save $9 Billion Under EFT Rules, HHS Says
Susan Turney, MD, president/CEO of the Medical Group Management Association-American College of Medical Practice Executives, says her organization "strongly supports" the regulations adopting EFT and ERA.
"Receiving and processing paper checks is cumbersome and inefficient. These standardized operating rules will increase efficiency and allow practices to allocate resources to patient care instead of wasteful administrative tasks," Turney said in prepared remarks.
The regulation takes effective upon its publication in the Federal Register on Friday. The comment period closes Oct. 9. The compliance date for operating rules for the healthcare electronic funds transfers and remittance advice transaction is Jan. 1, 2014, HHS said.
John Commins is a senior editor with HealthLeaders Media.
- Hospital Groups Strike Back at Hospital Rating Systems
- AHIP: Enormity of HIX Challenges Sinks In
- The Secret to Physician Engagement? It's Not Better Pay
- 5 Hot Healthcare Ideas from SXSW
- Another SGR Patch Likely, Lawmaker Says
- Hospital CEO Turnover Hits Record High
- How Succession Planning Boosts Employee Retention Rates
- Rules to Rein in HIX Narrow Networks Could Drive Away Payers
- 4 Reasons PCMH Principles Aren't Going Away
- Two-Midnight Rule Must be Fixed or Replaced, Say Providers