Electronic Fund Transfer – EFT (Calculator)

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Electronic Fund Transfer	Average Provider Without EFT	Average Provider Using EFT	Enter Your Numbers Here
Number of Outstanding Accounts Annually	100	100	*
Average Outstanding Balance Per Account	$400	$400	*
Total Amount of Money Outstanding Annually	$40,000	$40,000
Percentage of Outstanding Balances Never Recovered	45%	3%	*
Annual Lost Revenue from Accounts Not-Collected	$18,000	$1200
Revenue from Outstanding Accounts Recovered Annually Using EFT	$16,800	$16,800
Number of Patients Rejected Annually that Cannot Pay but Would Have Qualified for EFT	40	0	*
Average Amount Billed to Each New Patient	$700	$700	*
Annual Revenue Lost Due to Rejected Patients as a result of Credit Risk	$28,000	$0
Revenue From Credit Risk Patients Annually using EFT	$28,000	$28,000
Total Combined Income From EFT Annually (Outstanding Balances + Credit Risk Accounts)	$44,800