Medical Billing Forum

Starting a Medical Billing Business => Starting Your Own Medical Billing Business => Topic started by: wpj371 on February 26, 2018, 06:50:26 AM

Title: Reconciling EOBs to deposits
Post by: wpj371 on February 26, 2018, 06:50:26 AM
Good morning all!  I am just getting started on my own, with a doctor that has been my employer previously.  He wants his office to do the deposits still.  What form of information are you guys getting, from your providers, in order to reconcile the payments you post against the practice's bank deposits?

Thanks,

William J.
Title: Re: Reconciling EOBs to deposits
Post by: Michele on February 26, 2018, 02:08:35 PM
We either get ERAs or copies of the EOBs. 
Title: Re: Reconciling EOBs to deposits
Post by: wpj371 on February 26, 2018, 08:06:45 PM
I got that. What I meant is more the deposit end.  Do you get anything from the doctor showing what actually went to the bank? Is this even something you worry about? Michelle, I know you have mentioned before that you make deposits for some doctors, so obviously those are under control.
Title: Re: Reconciling EOBs to deposits
Post by: Michele on February 27, 2018, 09:41:35 AM
No I don't worry about what goes to the bank.  As long as the provider received the check, that is all that affects us.  Occasionally we have a provider that tells us they lost a check and we call to have it reissued, but our concern is that the payment made it to the provider.
Title: Re: Reconciling EOBs to deposits
Post by: PMRNC on March 01, 2018, 10:59:15 AM
Quote
I got that. What I meant is more the deposit end.  Do you get anything from the doctor showing what actually went to the bank? Is this even something you worry about? Michelle, I know you have mentioned before that you make deposits for some doctors, so obviously those are under control.

I do reconciliation, the client's forward over their deposit slips weekly. I like this as it keeps both of us accountable and all numbers match up. When I wasn't doing it years ago it prompted so many questions after month end reports were sent out that it seemed just logical to do this for them. 
Title: Re: Reconciling EOBs to deposits
Post by: nancylopezbp on July 19, 2018, 06:15:57 AM
Hi,
I usually recommend providers to have a lockbox account. Deposits get automatically reconciled and it also cuts back on repetitive administrative tasks.
Title: Re: Reconciling EOBs to deposits
Post by: PMRNC on July 30, 2018, 07:09:34 AM
There are no more real advantages to a lockbox for a provider than there is just doing reconciliation, clients prefer to keep control.