1 in 6 physician practices pay fees for electronic payments

About one in six physician practices are required to pay fees for getting paid electronically, a recent MGMA Stat poll found.

The Sept. 5 survey comprises responses from 900 medical practice executives.

Here are four key findings.

1. Transaction fees from health plans and third-party vendors related to electronic fund transfers generally range from 2 percent to 5 percent of medical services payment.

2. While 17 percent of respondents said their electronic payments from health plans required a fee, 50 percent of respondents said no fee is attached to their electronic payment transfers.

3. Of respondents who said they faced fees for electronic payments, 60 percent said the health plans use a third-party payment vendor.

4. More than 32 percent of physician practices said they were unsure if they face fees for electronic payment transfers.

For full survey results, click here

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