Why ACH Matters for Medical and Dental Organizations
If your medical or dental practice is also a small business then this post is for you. We are going to discuss a few of the benefits of adopting ACH both as a vendor and to pay your own vendors.
Most of us are familiar with ACH when it comes to direct deposit for payroll, but it is also a great way to make B2B payments as well as receive payments for health industry businesses.
“Many medical and dental offices operate on tight budgets, so every dollar counts more than ever. ACH can help,” said a statement by Nacha, the organization that oversees the ACH network.
Getting Paid with ACH
ACH eliminates the need to go to the bank for deposits when getting paid with ACH and it cuts down on the amount of staff time needed to process claim payments. Using ACH to process claim payments is a game changer for medical practices of any size.
Switching to ACH has helped practices save as much as 50% on claim payments, according to Nacha.
Paying with ACH
ACH is the preferred method for paying invoices among accounts payable experts. When you pay your vendors with ACH you have to work with them to implement the Electronic Funds Transfer, but once it is set up it is easy.
There is a growing demand for ACH payments because they offer the following benefits:
- Process claims faster
- More security
- Better traceability
- Faster receivables turnover
- Pay vendors faster
- Better cash flow management
With ACH, businesses are able to free up time, save money and energy and create more scalable processes to grow. Save the hassle and added expense of printing checks and stuffing envelopes.