Unposted cash is a serious liability and hinders a hospital's ability to understand its financial health and therefore, manage operations properly.
- Do you post all zero pays?
- Do you have a denial management system?
- Is there a reconciliation process of amounts posted to AR to the cash deposit?
- Do you know you are being paid correctly from all payers?
- Can you define your internal escalation path for variances within your own posting process?
- How significant is the volume within your undistributed posting backlog?
It's all too common for facilities across the country to face the business problems resulting from excessive amounts of unallocated or unreconciled payments to patient account systems.
Successful cash posting is complex, with payments made at various stages of treatment and settlement provided by multiple payers including the patient and third parties. The challenges are amplified by increasingly complex and different reimbursement agreements between insurance carriers and the facility.
The problems and subsequent risk increases dramatically if your facility struggles to achieve high quality standards in coding or charge capture.
Too often, facilities rely on a pool of expensive and poorly trained resources to clear backlogs, failing to introduce repeatable business processes and improve performance