Providers have the option of receiving claim payments from Denver Health Medical Plan (DHMP) via Electronic Fund Transfer (EFT), in lieu of receiving a check for claim payments, reducing the time it takes to receive payment. EFT funds are automatically credited to the provider’s financial institution, typically within 48 hours of payment processing. DHMP can also accommodate 835 electronic remittances if the provider’s office is set up to receive them. Benefits include the following:
- Electronic payment and 835 remittance offer cost-savings to the Provider and to DHMP.
- Funds are typically deposited within 48 hours of payment processing. Claims are paid weekly.
- Provider receives electronic remittance (via email or 835) when payment is processed for more efficient back-end reconciliation.
- Electronic payment reduces opportunity for check fraud.
- Electronic payments are more secure, save money and also help conserve the environment.
- There are no restrictions on the minimum dollar amount of the payments transmitted through the electronic payment network.
Adhering to the following instructions will ensure successful implementation of EFT payments:
- A new completed W-9 must accompany the completed Electronic Payment & 835 Enrollment Form. Forms without a W-9 will not be processed.
- A separate Electronic Payment & 835 Enrollment Form and W-9 must be completed for each entity that has a separate tax ID number.
- Ensure all lines are completed and legible. Forms with missing information will not be processed.
- We recommend you verify the banking information with your Financial Institution to ensure you are providing the correct Routing # and Account # for EFT. Many institutions have specific requirements for EFTs. This verification process will ensure your financial institution is prepared to accept ACH/EFT payments from DHMP.
The completed and signed Electronic Payment & 835 Enrollment Form, along with a W-9, should be emailed to our secure email:
Attn: Accounts Payable- EFT.