Healthcare EFT via ACH Volume Increases Almost 180 Percent in 12 Months

Changes to the NACHA Operating Rules to allow the identification of healthcare EFT via ACH transactions that flow through the ACH Network became effective in September of 2013.  Since October 2013, the first full month of processing, the volumes of healthcare EFT transactions have increased by 177 percent.  Specifically during this period, total transaction volume amounted to 120,613,080 and the dollar value of these transactions totaled $680.5 billion.

Continued growth of these transactions has been supported by the federally mandated healthcare EFT standard rule, which became effective January 1, 2014, and required that all health plans be able to deliver the healthcare EFT standard via ACH (ACH CCD+Addenda) if it is requested by the provider. Additionally, transaction volume experienced significant growth in July 2014 when Medicare implemented the changes to the NACHA Operating Rules to include the addition of the transaction identifier that allows healthcare transactions to be identified by the ACH Operators. 

Tags: