ClaimTek - Medical Billing

  ClaimTek - Medical Billing (800) 224-7450

Electronic Fund Transfer - EFT

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The Cost of EFT

The cost per EFT transaction is 45 cents, less than the cost of postage, envelope, statement form, and of course, labor. The cost per transaction goes down to 23 cents depending on volume (see table on right). Meanwhile, a typical charge for your service is $1.50 - $2.00. The EFT software and initial start-up cost is $999 (This fee is waived for ClaimTek's Preferred program members).

Monthly Transactions Price Each
1-500 $0.45
500-2500 $0.39
2501-5000 $0.33
5001-10,000 $0.28
Over 10,000 $0.23

Work Smart! Increase your Business Potential...

The benefits of EFT are tremendous to your new business. Here's how:

  • Increase efficiency in your business: Save time and labor.
  • Decrease operating expenses: No need to print and mail monthly statements.
  • Add credibility, professional Image, and product diversification to your new billing service
  • Gain a competitive edge over your competitors by offering comprehensive electronic services
  • Expand your business potential: Tap into other business territories. EFT is not limited just to the medical industry. Practically any "membership" type business or any business with monthly billing cycle is a potential client. (i.e.: Fitness clubs, rental companies, tanning centers, security alarm companies, storage companies, pest control...etc.). An independent study found that the average cost for a business invoice is about $4.20. Let's say you have 10 businesses and processing 100 transaction for each business at $1.50-2.00 per transaction. It adds up to a considerable income. Now do the calculations for 50 or more businesses. The possibilities are unlimited!