A smooth cash reconciliation process is increasingly important as hospitals and health systems strive to achieve maximum reimbursement.
Tyler Kurasek, a principal with Colburn Hill Group: Maintaining a routine allows a more consistent application of the posting data. If you track individual deposition transactions, this forces accountability at the transaction level, not by day or month. It's essential to match depositions with batch and transaction files from your patient accounting system. This reduces the many-to-many relationships resulting from the complex posting world in which most providers operate.
To learn more about collecting on accounts and deposits, access this story from Becker's Hospital Review.
If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.
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