Payment Posting & Reconciliation
Know Your Money, Track Your Payments
An accurate and efficient payment posting process is indispensable for any healthcare entity.The impact of accurate posting is immense as it reflects the overall picture of your practice’s revenue health.
- Prevents Recurring Problems
- Reconcile Payments
- Better Cash Flow
- Identifies Payment Trends
How Do We Post Payments?
Receiving Deposit Files from Practice
Data is gathered from the deposit form, which indicates your payments from the carrier along with the payment supporting documents like Electronic Fund Transfers, Checks, or Virtual Credit Cards
Posting Payments from Deposit Files
The payment information is verified with the attached EOB. If the paid amount matches then payments will be posted to the respective claims as per the EOB and accounts balanced, otherwise the practice will be notified
Reconciling the Payments
Practice is notified about the status of the deposit once the payment is posted. A confirmation mail is sent to the practice with a summary that ensures all the transactional records are consistent and up-to-date
FEATURES
Payment Reconciliation
Posting and reconciling data from EOBs and ERAs, ensuring deposits match payment totals
Unique Claim Adjudication
Perform all transactions like write-offs and adjustments as per your standards
Accurate Patient Billing
Move correct balances to patient responsibility for prompt patient billing
Higher order Billing
Identifying claims with secondary payors and processing claims for any remaining balances
Denied Payments
Analyze denial patterns and give inputs to eliminate repetitive errors in the billing cycle
Working with Bank Statements
Access to bank statements ensures that all your payments are processed without any misses
