RCM tip of the day: Gain confidence that the deposit amount is the source of truth and cash

As healthcare providers seek maximum reimbursement for the care they provide, cash reconciliation plays a key role.

Tyler Kurasek, a principal with Colburn Hill Group: Hospitals need to track deposits that are split by the various patient accounting systems and general ledger accounts where the cash actually belongs. This quickly highlights any unposted or unreconciled amounts, allowing staff to resolve those exceptions quickly. [Team members should] log batch-posted data in real-time as part of posters' workflow. The team posting the cash and reconciling the bank account(s) should leverage the same application.

To learn more about revenue cycle management, 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.

 

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.