ACH Transactions for Repetitive Payments
Most payment plans created by DOCPAY utilize paper bank drafts rather than ACH transactions. Some practices initiate a large number of installment payment plans and simply don't want to have that many undeposited checks stored at their office. The alternative solution is to use ACH transactions instead of paper bank drafts. Most companies that provide this type of service charge a monthly fee for usage of ACH generating software and require an extensive underwriting and approval process before allowing the practice to create electronic payments. Since DOCPAY limits processing of ACH's to doctor's offices only, we don't have the high risks associated with many types of ACH processing. This allows DOCPAY to offer a simplified version of repetitive ACH processing in which the doctor's office does not even need a computer!
The setup process works in the same manner as paper bank drafting. The patient completes an authorization, which is faxed to the DOCPAY office. We make the entries into the ACH system for you. Your staff does not need to be trained in operation of ACH processing software. The payments are automatically debited from the patient's bank account each month and then credited into your own account. An email (or fax, if you have no computer) is sent detailing the patients who are included in the payment posted into your bank account.
For more information on repetitive ACH plans,
see our DOCPAY ACH web site at www.docpay.com/dpach
What are ACH Payments? ACH Payment Plans Take Checks Over the Web Convert Paper Checks to Electronic