Electronic Funds Transfer - enrollment process

Electronic Funds Transfer allows the transfer of Medicare payments directly from Medicare to a provider’s bank account.

Medicare regulations require payments be received through electronic funds transfer (EFT) for providers newly enrolled in the Railroad Medicare program or providers making changes to their existing enrollment records.

EFT allows a financial institution to deposit Railroad Medicare payments directly into a designated account. There is no charge by Railroad Medicare for this service, and EFT deposits will appear on bank statements. With EFT, you prevent the possibility of checks being lost or delayed in the mail and eliminate the need for staff to prepare daily bank deposits.

NOTE: Providers who receive payment by EFT will continue to receive the standard provider remittance notices (SPRs) unless they elect to receive electronic remittance advices (ERAs).

When you enroll or are making an update to your existing record with Railroad Medicare, we will use the information from your CMS-588 form on file with your local Part B MAC. You will receive a notification with the effective date of the EFT payments from Railroad Medicare. Once you have been established to receive EFT, you are no longer eligible to receive your payments via paper checks.

You can send an email to our Railroad Medicare EFT specialists for answers on topics including:

** Assistance with establishing EFT

** Status of EFT requests

** Verify EFT effective dates

** Request EFT notification letters

** Update banking information


Enrollment Overview

The following is a high level overview of the EFT Enrollment Process:
  • EFT applications are received,  prepped and imaged
  • The applications are entered into our DME EFT Database, analyzed/verified for accuracy
  • A valid application is then entered in the VMS system for pre-note testing.
  • Once the testing is completed (typically a 2 week process) the file goes into production mode.
  • For those applications that failed the pre-note testing, a validation process is initiated including contact with the supplier to either verify or correct.
  • Incomplete applications are entered in the DME EFT Data Base and a letter is sent to the supplier requesting the missing information.
  • The normal processing time for a completely valid EFT application is 30 days.
  • Incomplete/incorrect applications will take longer than 30 days to finalize, based on how quickly the missing information is provided and processed.
Should you have a question about the status of your EFT enrollment application, please call 866-563-0049.

Enrollment Information

In order to receive claims payments electronically, enroll in EFT by following the instructions below:
Instructions

IMPORTANT NOTE: To minimize unnecessary delays in the processing of your application, please include both your NPI and your Legacy (NSC) number in the appropriate fields.
  1. Complete the authorization agreement by clicking on the link: http://cms.gov/cmsforms/downloads/CMS588.pdf External Link Graphic Adobe Image and downloading a copy of the Form.
  2. Attach a blank voided check or bank letter signed by the bank officer to the signed EFT agreement.
  3. Retain one copy for your files.
  4. Mail the signed authorization agreement, along with the voided check to:
    EDI/EFT DME Enrollments Forms
    PO Box 9185
    Hingham, MA 02043-9185

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