Treasury Reconciliation

Segmenting Bank Deposits by Business Unit

Segmenting Practice Group Bank Deposits by Business Unit

For many of our clients, having the ability to segment bank deposits by business unit saves them a considerable amount of time and effort in managing their funds distribution. With ReMedics Treasury Reconciliation Services, bank deposits are segmented, balanced and reconciled daily for divisional and corporate-wide groups. It’s important to note that we are typically processing payments from more than one Practice Management (PM) System and Clearinghouse utilizing a single EIN Tax-ID. Detailed reporting and analytics then become a bi-product of our treasury process, providing a centralized location for revenue cycle managers to obtain timely updates on all payments, denials/defects, co-pays, deductibles and contractual allowances.

ReMedics can integrate existing clearinghouses, patient accounting systems, EMRs and banking partners, facilitating streamlined, automated RCM workflows. We create a more efficient accounts receivables process, with improved accuracy and audit controls for revenue being reported for each business unit.

Data Validation and Exception Processing

Our solutions apply over 180 business validation rules prior to upload, giving us the ability to check for missing or incorrect information. Regardless of how the original data was captured, data integrity is improved, thereby resulting in fewer items to be worked as downstream exceptions. The small percentage of transactions that can’t be automatically processed are flagged for follow-up and routed to a client-defined work group, business unit or department with easy-to-manage worklist tools and links to document images. 

Talk to ReMedics about your specific Treasury Reconciliation needs. We can help to improve your AR efficiency, lower operational costs, increase productivity and deliver a measurable ROI. Contact us online — or call 440-671-7700.