As healthcare payments become more complex, process errors can lead to funds that are unapplied or funds that do not match up with a particular bill or invoice. These situations are prevalent among LHS and are an increasing point of frustration, particularly among non-academic medical centers (AMC). LHS rated manually tracking unapplied cash as the top challenge due to the amount of time and effort required by staff to discern where the funds belong.
The Academy’s recent report provides LHS with a baseline understanding of how their peers are tactically approaching and developing strategy related to healthcare payment reconciliation, and specifically automating cash reconciliation.
Access the full report here.