Revenue cycle metrics · Definition
EFT: Definition
Direct deposit of payer payments, reconciled against the corresponding remittance file.
This is a short definition only. The full explanation lives on EHR and practice management billing, which is the page to read if you are dealing with this on live claims.
Definition
Also known as: Electronic funds transfer
Deposits and remittances arrive separately and must be matched.
Unmatched deposits are the reason many practices carry unapplied cash that inflates apparent collections.
For worked examples, payer rules and documentation requirements, read EHR and practice management billing. Return to the dermatology billing glossary.
See this term in your own numbers
A free claims audit reviews a de-identified sample of your dermatology claims and returns a line-item findings report.