Guest guest Posted August 3, 2011 Report Share Posted August 3, 2011 OK, believe it or not I just applied for PECOS. After a million phone calls from suppliers, etc last December, it all went away when the deadline got pushed off and I indefinitely postponed it. So now I have to find some IRS form indicating that I am a “disregarded entity” although their definition was doublespeak. Also I have to fill out some form for EFT. It doesn’t look like it’s an option. Is it? I really don’t want to do EFT; it will complicate my life. Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing Quote Link to comment Share on other sites More sharing options...
Guest guest Posted August 3, 2011 Report Share Posted August 3, 2011 Kathy,I'm not sure what IRS letter you need. We are an s Corp, so I have a letter from the IRS for that. I'm just curious how EFT will complicate your life? I love having the insurance companies direct deposit the funds. I get them into the bank about 10 days sooner than if I get a paper check from the same company (we have a lot of self-funded plans that get paid thru the major insurance players by check). I also have eob's come electronically for those that are EFT, and I have it set up to auto post (under my watchful eye) to my billing system. Saves me hours of data entry each week. Don't know if that's an option for you, but I have been doing it this way for 2-3 years and am very happy with it. OK, believe it or not I just applied for PECOS. After a million phone calls from suppliers, etc last December, it all went away when the deadline got pushed off and I indefinitely postponed it. So now I have to find some IRS form indicating that I am a “disregarded entity†although their definition was doublespeak. Also I have to fill out some form for EFT. It doesn’t look like it’s an option. Is it? I really don’t want to do EFT; it will complicate my life. Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing Quote Link to comment Share on other sites More sharing options...
Guest guest Posted August 3, 2011 Report Share Posted August 3, 2011 I feel it would complicate my life because I do have a biller that who does not have access to my checking account. So now I will have to check for EFTs and let her know the amounts so she can download the EOB and post, etc. It’s actually an extra step. I really don’t want the auto post because the “watchful†eye can be more difficult than doing it yourself (or manually anyway). But is it mandatory to sign up for EFT? Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing From: [mailto: ] On Behalf Of PrattSent: Wednesday, August 03, 2011 10:34 AMTo: Subject: Re: PECOS Kathy,I'm not sure what IRS letter you need. We are an s Corp, so I have a letter from the IRS for that. I'm just curious how EFT will complicate your life? I love having the insurance companies direct deposit the funds. I get them into the bank about 10 days sooner than if I get a paper check from the same company (we have a lot of self-funded plans that get paid thru the major insurance players by check). I also have eob's come electronically for those that are EFT, and I have it set up to auto post (under my watchful eye) to my billing system. Saves me hours of data entry each week. Don't know if that's an option for you, but I have been doing it this way for 2-3 years and am very happy with it. OK, believe it or not I just applied for PECOS. After a million phone calls from suppliers, etc last December, it all went away when the deadline got pushed off and I indefinitely postponed it. So now I have to find some IRS form indicating that I am a “disregarded entity†although their definition was doublespeak. Also I have to fill out some form for EFT. It doesn’t look like it’s an option. Is it? I really don’t want to do EFT; it will complicate my life. Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing Quote Link to comment Share on other sites More sharing options...
Guest guest Posted August 3, 2011 Report Share Posted August 3, 2011 I do think Medicare is mandatory for EFT now. You should check with your local carrier to find out for certain. Is there not a way for your biller to check for the EFTs? What I do is check for the EFT's, download & print them, autopost to my billing system, and then I input them into QuickBooks to track in my checking account. Still not understanding how this is an extra step except for checking for the EFT online instead of checking your mailbox for the paper. I would recommend checking for it just once a week unless you have a high Medicare population. Good luck! I feel it would complicate my life because I do have a biller that who does not have access to my checking account. So now I will have to check for EFTs and let her know the amounts so she can download the EOB and post, etc. It’s actually an extra step. I really don’t want the auto post because the “watchful” eye can be more difficult than doing it yourself (or manually anyway). But is it mandatory to sign up for EFT? Kathy Saradarian, MD Branchville, NJ www.qualityfamilypractice.com Solo 4/03, Practicing since 9/90 Practice Partner 5/03 Low staffing From: [mailto: ] On Behalf Of Pratt Sent: Wednesday, August 03, 2011 10:34 AMTo: Subject: Re: PECOS Kathy, I'm not sure what IRS letter you need. We are an s Corp, so I have a letter from the IRS for that. I'm just curious how EFT will complicate your life? I love having the insurance companies direct deposit the funds. I get them into the bank about 10 days sooner than if I get a paper check from the same company (we have a lot of self-funded plans that get paid thru the major insurance players by check). I also have eob's come electronically for those that are EFT, and I have it set up to auto post (under my watchful eye) to my billing system. Saves me hours of data entry each week. Don't know if that's an option for you, but I have been doing it this way for 2-3 years and am very happy with it. OK, believe it or not I just applied for PECOS. After a million phone calls from suppliers, etc last December, it all went away when the deadline got pushed off and I indefinitely postponed it. So now I have to find some IRS form indicating that I am a “disregarded entity” although their definition was doublespeak. Also I have to fill out some form for EFT. It doesn’t look like it’s an option. Is it? I really don’t want to do EFT; it will complicate my life. Kathy Saradarian, MD Branchville, NJ www.qualityfamilypractice.com Solo 4/03, Practicing since 9/90 Practice Partner 5/03 Low staffing -- Pratt Quote Link to comment Share on other sites More sharing options...
Guest guest Posted August 3, 2011 Report Share Posted August 3, 2011 Kathy, ask you bank if they can set up a view only username and password for your biller. Lots of businesses provide limited view only bank account access. My bank set this up for me although I now just print a monthly summary. Neighbors, MDHuntsville, Alabama Solo using FlexMedical EMR/Billing since 2/2009 From: [mailto: ] On Behalf Of Kathy SaradarianSent: Wednesday, August 03, 2011 2:43 PMTo: Subject: RE: PECOS I feel it would complicate my life because I do have a biller that who does not have access to my checking account. So now I will have to check for EFTs and let her know the amounts so she can download the EOB and post, etc. It’s actually an extra step. I really don’t want the auto post because the “watchful†eye can be more difficult than doing it yourself (or manually anyway). But is it mandatory to sign up for EFT? Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing From: [mailto: ] On Behalf Of PrattSent: Wednesday, August 03, 2011 10:34 AMTo: Subject: Re: PECOS Kathy,I'm not sure what IRS letter you need. We are an s Corp, so I have a letter from the IRS for that. I'm just curious how EFT will complicate your life? I love having the insurance companies direct deposit the funds. I get them into the bank about 10 days sooner than if I get a paper check from the same company (we have a lot of self-funded plans that get paid thru the major insurance players by check). I also have eob's come electronically for those that are EFT, and I have it set up to auto post (under my watchful eye) to my billing system. Saves me hours of data entry each week. Don't know if that's an option for you, but I have been doing it this way for 2-3 years and am very happy with it. OK, believe it or not I just applied for PECOS. After a million phone calls from suppliers, etc last December, it all went away when the deadline got pushed off and I indefinitely postponed it. So now I have to find some IRS form indicating that I am a “disregarded entity†although their definition was doublespeak. Also I have to fill out some form for EFT. It doesn’t look like it’s an option. Is it? I really don’t want to do EFT; it will complicate my life. Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing Quote Link to comment Share on other sites More sharing options...
Guest guest Posted August 3, 2011 Report Share Posted August 3, 2011 I would have to check with the bank that I actually received the deposit and then add it to QuickBooks. The checking with the bank to make sure that I received the deposit they said they did is an extra step. I also wonder about reports. Would have to input the deposit into the PMS so that it shows on the report but not the deposit slip. Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing From: [mailto: ] On Behalf Of PrattSent: Wednesday, August 03, 2011 4:00 PMTo: Subject: Re: PECOS I do think Medicare is mandatory for EFT now. You should check with your local carrier to find out for certain. Is there not a way for your biller to check for the EFTs? What I do is check for the EFT's, download & print them, autopost to my billing system, and then I input them into QuickBooks to track in my checking account. Still not understanding how this is an extra step except for checking for the EFT online instead of checking your mailbox for the paper. I would recommend checking for it just once a week unless you have a high Medicare population. Good luck! I feel it would complicate my life because I do have a biller that who does not have access to my checking account. So now I will have to check for EFTs and let her know the amounts so she can download the EOB and post, etc. It’s actually an extra step. I really don’t want the auto post because the “watchful” eye can be more difficult than doing it yourself (or manually anyway). But is it mandatory to sign up for EFT? Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing From: [mailto: ] On Behalf Of PrattSent: Wednesday, August 03, 2011 10:34 AMTo: Subject: Re: PECOS Kathy,I'm not sure what IRS letter you need. We are an s Corp, so I have a letter from the IRS for that. I'm just curious how EFT will complicate your life? I love having the insurance companies direct deposit the funds. I get them into the bank about 10 days sooner than if I get a paper check from the same company (we have a lot of self-funded plans that get paid thru the major insurance players by check). I also have eob's come electronically for those that are EFT, and I have it set up to auto post (under my watchful eye) to my billing system. Saves me hours of data entry each week. Don't know if that's an option for you, but I have been doing it this way for 2-3 years and am very happy with it. OK, believe it or not I just applied for PECOS. After a million phone calls from suppliers, etc last December, it all went away when the deadline got pushed off and I indefinitely postponed it. So now I have to find some IRS form indicating that I am a “disregarded entity” although their definition was doublespeak. Also I have to fill out some form for EFT. It doesn’t look like it’s an option. Is it? I really don’t want to do EFT; it will complicate my life. Kathy Saradarian, MDBranchville, NJwww.qualityfamilypractice.comSolo 4/03, Practicing since 9/90Practice Partner 5/03Low staffing -- Pratt Quote Link to comment Share on other sites More sharing options...
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