Greenville Reporter

Washington, D.C. - Congressman Greg Murphy has introduced the No Fees for EFTs Act, a bipartisan legislation aimed at protecting health care providers and patients from unnecessary fees associated with electronic fund transfers and payment transactions. The bill seeks to address the burden placed on providers and patients by fees associated with electronic transactions for physician services.

In a statement, Congressman Murphy highlighted the unnecessary and costly burden that these fees impose on providers and patients. He criticized the actions of health insurers, stating that they attempt to take advantage of doctors and patients throughout the care process to line their own pockets. He emphasized that just as individuals do not tolerate paying fees to receive direct deposits of their paychecks, doctors and patients should not be forced to pay predatory fees on electronic payments for essential health services.

Congresswoman Marianette Miller-Meeks, a medical doctor herself, joined Congressman Murphy in supporting the bill. She expressed concern for doctors and hospitals in small and rural areas who are already struggling to provide timely care. She highlighted the additional administrative burdens and fees brought on by electronic fund transfers and payment transactions, stating that they can ultimately lead to the closure of practices. Congresswoman Miller-Meeks stressed the importance of prioritizing patient care and emphasized that the No Fees for EFTs Act aims to protect a doctor's ability to provide quality care.

Congresswoman Kim Schrier, also a medical doctor, voiced her support for the legislation, stating that healthcare plans forcing doctors to pay a fee for their services creates another hurdle in the system. She noted that these excessive fees impact medical providers at a time when the nation is already experiencing severe doctor shortages.

Congressman Derek Kilmer emphasized the need for a more efficient and fair healthcare system. He stated that it is unacceptable for healthcare providers to be burdened with unnecessary fees for simply receiving payments electronically. Congressman Kilmer highlighted how these costs hinder medical professionals financially and divert critical resources away from patient care. He commended the bipartisan effort to eliminate predatory practices in the healthcare system and ensure that every dollar is directed towards improving patient outcomes.

The No Fees for EFTs Act has received support from various medical organizations as well. The Medical Group Management Association (MGMA) has long called for a prohibition on the practice of charging medical groups fees for receiving reimbursement via Electronic Funds Transfer (EFT). In a statement, MGMA thanked the representatives for their leadership in introducing the bill and highlighted the detrimental impact these fees have on medical practices. They stressed that if passed, the legislation would protect the financial viability of medical practices and their ability to provide cost-effective care.

The American Medical Association (AMA) also applauded the representatives for their efforts in looking out for patients and their access to care. AMA President Jesse M. Ehrenfeld highlighted the challenges faced by physician practices due to slashed reimbursement rates, prior authorization requirements, and narrow networks. He commended the bill for providing much-needed relief to physician practices and scoring a victory for common sense.

The No Fees for EFTs Act aims to address the fees imposed on health care providers for electronic fund transfers under the Affordable Care Act. Currently, health plans are required to offer medical practices the option to receive reimbursements electronically, but insurers impose charges between 2-5% on health care providers for these transactions. According to the Medical Group Management Association, over 75% of their practices' annual revenue is received through electronic fund transfers, resulting in significant costs of up to $1,000,000 annually.

Congressman Murphy's bill seeks to eliminate these fees and protect health care providers and patients from the burden they impose. If passed, the No Fees for EFTs Act would represent a crucial step forward in creating a more efficient and fair health care system.

For additional details, please follow this link: https://murphy.house.gov/media/press-releases/murphy-introduces-bipartisan-legislation-eliminate-costly-health-care-fees