Free EFT Exists—Why Are Dental Practices
Still Paying for It?
Episode 52
Key Revelations:
HIPAA requires insurance companies to offer a free EFT option—but many practices don’t know how to access it and may be directed toward paid alternatives unless they specifically ask for the free option.
70% of insurance payments are still paper-based—even in 2026.
Virtual credit cards can cost practices 3–5% per payment through merchant processing fees.
Getting paid electronically isn't enough—if EOBs aren't posted correctly, your AR can grow while your financial statements become inaccurate.
The real problem isn't just getting off checks. With 15–20 insurance companies, practices need a system for enrollment, payment processing, and finding EOBs.
The Insurance Payment Trap Most Dental Practices Never Question
AVAILABLE ON
"How much should I be spending on my accounting each month?"
💡 The “Ask Dallin” Question:
Sam Rockwood, Founder & CEO of Woods and former actuary, exposes the hidden inefficiencies behind insurance payments. With roughly 70% of dental insurance payments still being paper-based, practices are stuck dealing with checks, virtual credit cards, hidden processing fees, and hours of manual work.
And the biggest surprise? Free EFT is available—but many practices don't know how to access it.
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Top 3 Episodes Of The Dental Truth Project. Listen Now!
Dallin's answer: Budget roughly 1-1.5% of total revenue on bookkeeping and financial record-keeping. If a bookkeeping service is charging north of $800-900 per location, you've outgrown outsourcing — it's time to build an internal team. For a finance lead, expect to pay around $100K base plus incentives on the smaller end, climbing to $120-130K if they're also taking on operations. And once you cross roughly 20 locations, it's time to think about a full-time CFO — accounting complexity scales up with size, it doesn't get cheaper.
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