Payment Reconciliation

A Prescription for Improving the Hospital Pharmacy Revenue Cycle

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Robbie and Shea at HCP22 Spring Conference

Hospital pharmacy revenue cycle management is more than easy payment processing and accurate reconciliation. It is critical for reporting patient prescription dispense as directed under legal, industry, and business compliance regulations.  Last month, Robbie Niedergall, Senior Vice President, Sales; Pierre Dupuis, VP Strategic Accounts & Channels; and I met with hospital pharmacy professionals at HCP22 Spring … Read more

What the Heck Is PCI-DSS v4.0?

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PCI-DSS v4.0

Customer expectations for payment experiences have evolved over time to become what is standard today – simple, fast, and secure. On the other hand, those tasked with generating revenue and maintaining compliance expect reconciliation, reporting, and applications to be secure, accurate, and modern. Despite information security and regulatory compliance leading payer and stakeholder trust requirements … Read more

The Utility of Exhibiting at CS Week

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Operating a utility adds layers of complexity that can be daunting for local governments. One especially complex layer? Customer engagement. An online payment platform that lacks ease of use, delivers suboptimal EBPP, and needs more merchant services options results in less customer engagement, lost revenue, and weakened reputation. It thus made sense for CORE to … Read more

How Can Automated Payment Reconciliation Help Your Revenue Management?

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Man doing manual payment reconciliation

Cash flow is the lifeblood of any organization. Accurate record-keeping on your end only goes so far because there may be errors on your bank’s end or extra fees or taxes that are more difficult to track and manage.   Payment reconciliation can help make sense of your organization’s accounts payable and receivable operations. Here’s your … Read more

Everything You Need to Know About Payment Reconciliation: Software, Process, and Tools

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man doing payment reconciliation

*Last Updated: August 17, 2023 A balanced account is a hallmark of a well-structured organization, and accurately balancing your agency’s accounts requires following specific steps. While saving receipts or employing a structured spreadsheet can be helpful, verifying your records against your actual financial documents is essential.  A streamlined and accurate payment reconciliation process is crucial … Read more

4 Ways to Improve Patient Collections

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The importance of patient financial responsibility in healthcare—and its significance to hospital revenue models—is unlikely to decrease, and may become even greater. Read more about the true cost of patient payment collections. It’s vital for healthcare facilities to implement more successful methods of collecting on patient self-pay accounts. Consider these four best practices for improving … Read more

The True Cost of Patient Payment Collections

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Due to the increase of patient financial responsibility, hospitals and health systems often experience difficulty collecting on those patient-pay accounts. In fact, most patient accounts are never paid in full. Research shows that 68 percent of patient bills under $500 are never paid, along with 86 percent of those between $500 and $1,000 and 99 … Read more