SUMMIT MEDTEC SERVICES LLC

CALCULATE YOUR SAVINGS
See Your Savings Using Our Electronic Fund Transfer (EFT).

Instructions: Complete the fields listed under "Enter Your Numbers Here". Do not use decimals. To request a detailed analysis of EFT and/or complete billing cost analysis for your practice, please contact us today!

Electronic Fund Transfer Average Provider Without EFT Average Provider Using EFT Enter Your Numbers Here Description
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

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