Tyler Kurasek, a principal with Colburn Hill Group: Knowing the composition of each deposit type adds much-needed transparency to the reconciliation process. Map each payment to the bank, capturing all points of payments submitted for deposits. Identify the source of every deposit, and whether payments are being rolled into large deposits; by reducing the number of deposits that are grouped together, it allows for easier reconciliation.
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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