royalwindshield wrote:What or who exactly is EFT or EDI? I am new to this also and have yet to do anything for insurance. The few customers I have done work for, (mainly other firemen) have just paid me outright to fix their windshields. COuld someone please provide some details into who or what these things are. Thanks for answering a stupid question
Hammer
BCFD
First it is not a stupid question. EFT stands for Electronic Funds Transfer(money is wired right to your account) and EDI stands for Electronic Data Invoice(you enter all data electronically through and EDI service provide like the one mentioned and have no paper fax submission). Both EFT and EDI are looked favorably upon by the networks as it cuts down on the paper processing and manual involvment they have. Most networks have fees if you do not elect to EFT and/or EDI.
For my region and the insurance work I do, I use eDirect for my EDI submitions. At this point it is only for the Lynx network as Safelite Solutions Network and Harmon Solutions Network have their own online website EDI submission option for free. Lynx is the last hold out to offer website submission. For myself, when Lynx does go that route I will drop my EDI service provider. For now with eDirect I pay 24.95 a month service fee and 2.00 for every invoice submission.
Keep doing your homework to determine which one will most closely match your needs.
EFT is electronic funds transfer. if you sign up with the TPA's and agree to EFT they will deposit your checks directly into your bank account, usually in about ten days.
EDI is electronic data interchange. this is how you send a paperless invoice over the phone lines. TPA's prefer this and most charge an extra fee if you do not EDI (fax or mail inv.)
TPA is third party administrator. they do the glass claims for insurance companies. aka"networks".
Do a search for past posts on these subjects, you should find a lot of information.
The othe upside to companies like ACT is they sign you up with the networks
Many of them wont let you sign up with them until you have been in buisness for a year and some wont sign you up if they already have several in your area
Not being on thier network will often result in the customer being told that you are not one of thier approved dealers and thus your work will no be guarenteed through them also you will get no refferals
I hasten to add that most of the above ie gobbly gook to the UK market where simplweb comes from. Our insurance business has just about ceased mainly due to inexperienced operatives working in a shady way, this has meant that the majority of insurers will only pay to either recommended replacemnet companies or to the customer after they have paid, with a few exceptions.
Hey there, You do not have to buy a fancy part for your computer to send your invoices via EDI till you get going you can fax all your invoices to a company called GLASS COMP they charge you $2.25 per invoice and they will process the invoice for you ie Safelite Solutions-Lynx-Harmon----Gerber you send them direct with no fee involved. If you sighn up with the above networks you can ask for a direct payment into your bank account , they will send you a E-mail or a fax advising you of a payment made into your account Glass Comp #1-309-266-1357 or1359
So, if I sign up with a company like ACT, and they sign me up with the networks, what happens if I discontinue using ACT down the road. Will I have to go back and re-register with the networks, or is it a case of once you are signed up, it's done. Also, I have read in several posts that LYNX requires you to be in bussiness for a year before you can register with them. Will signing up with ACT, and letting them register me with LYNX, get me around this?
We quit accepting ACT applications because we had a contract with them that we felt was a bit too restrictive. We still believe ACT offers excellent options for many windshield repair technicians, and it is just as easy to contact them direct as it was to have Delta Kits process the application. We have also stopped processing eDirectGlass applications as we are troubled by their financial situation and can no longer recommend their service. We do however still offer free unbiased information that helps technicians find the best insurance billing solutions for their specific business model.
