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WCH News

Electronic Funds Transfer

Sunday, May 6, 2012

Horizon Blue Cross Blue Shield. January 24, 2012

In 2012, Horizon Blue Cross Blue Shield of New Jersey will require the use of Electronic Funds Transfer (EFT). In the first quarter of 2012, we will begin to require the use of EFT for newly credentialed group practices and solo physicians and other health care professionals.  We will require that all participating group practices, physicians and other health care professionals sign up for EFT no later than July 1, 2012.

The benefits of EFT include:

• Reimbursements deposited directly into your
bank account.
• Improved cash flow by eliminating mail time
and check float.
• Elimination of bank fees for check deposits.
• Reduction in paperwork and overall
administrative costs.
• Less opportunity for error or theft.
• Elimination of paper checks to track
deposits.

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