Electronic Fund Transfer (EFT) Saving Calculator
See Your Savings Using Our Electronic Fund Transfer (EFT).
Instructions: Complete the fields listed under “Enter Your Numbers Here”. Do not use decimals. To request a detailed analysis of EFT and/or complete billing cost analysis for your practice, please contact us today!
| Electronic Fund Transfer | Average Provider Without EFT | Average Provider Using EFT | Enter Your Numbers Here | Description |
|---|---|---|---|---|
| Number of Outstanding Accounts Annually | 100 | 100 | ||
| Average Outstanding Balance Per Account | $400 | $400 |
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| Total Amount of Money Outstanding Annually | $40,000 | $40,000 | ||
| Percentage of Outstanding Balances Never Recovered | 45% | 3% |
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| Annual Lost Revenue from Accounts Not-Collected | $18,000 | $1200 | ||
| Revenue from Outstanding Accounts Recovered Annually Using EFT | $16,800 | $16,800 | ||
| Number of Patients Rejected Annually that Cannot Pay but Would Have Qualified for EFT | 40 | 0 | ||
| Average Amount Billed to Each New Patient | $700 | $700 |
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| Annual Revenue Lost Due to Rejected Patients as a result of Credit Risk | $28,000 | $0 | ||
| Revenue From Credit Risk Patients Annually using EFT | $28,000 | $28,000 | ||
| Total Combined Income From EFT Annually (Outstanding Balances + Credit Risk Accounts) | $44,800 | |||
Your results are below...
| Electronic Fund Transfer | Your Numbers Now | Your Numbers With EFT | Description |
|---|---|---|---|
| Number of Outstanding Accounts Annually | |||
| Average Outstanding Balance Per Account | |||
| Total Amount of Money Outstanding Annually | |||
| Percentage of Outstanding Balances Never Recovered | 3% | ||
| Annual Lost Revenue from Accounts Not-Collected | |||
| Revenue from Outstanding Accounts Recovered Annually Using EFT | N/A | ||
| Number of Patients Rejected Annually that Cannot Pay but Would Have Qualified for EFT | 0 | ||
| Average Amount Billed to Each New Patient | |||
| Annual Revenue Lost Due to Rejected Patients as a result of Credit Risk | N/A | ||
| Revenue From Credit Risk Patients Annually using EFT | N/A | ||
| Total Combined Income From EFT Annually (Outstanding Balances + Credit Risk Accounts) |
This analysis shows that you could be earning an extra by using our Electronic Fund Transfer service. The report does not take into account other factors that can impact the process of collection and save you additional money.