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Do you reconcile your collections daily?

 In chiropractic billing, chiropractic patient experience, chiropractic software, ICD-10 for Chiropractic

chiro billing softwareWhen your practice receives payments by cash, credit card or checks, do you have a way to reconcile your practice with your bank account?

Reconciling your bank account with the collections you receive at your practice is something they teach in business school, but not in Chiro School.  Co-payments are being taken from your patients every day but checks from insurance companies come in by mail, weeks after the date of service.  How do you keep track of everything and everybody?

The Genesis Chiropractic Billing Software can eliminate this memory management with several built-in tools to reconcile your finances.  Learn how with the free webinar that can be viewed right on this page.

Read the Transcript: 

Jason: All right we’re gonna get started here. We’re just going to type out the message one more time to the people and then we’ll get going. And I’m grateful as always to have Jessica Pancoast, head of our health [inaudible 00:00:12] training team here with me. My name is Jason Barnes, and today we’re actually talking about something relevant to every single practice out there. Each day you’re seeing patients and there are all sorts of things that you wanna track and make sure that it went well, you know, how many patients were checked in versus checked out, how much money was brought in checks, cash or maybe even in patient payments versus insurance payments. You wanna make sure that, you know, there wasn’t something that went really off the rails for that practice…for your practice that day.

And today, we’re gonna talk about how to reconcile at the end of the day to make sure you’re tracking all of the things that are important to you, number one. And number two, how to help your staff gain clarity on what their job and what their role is so at the end of the day when they come to report to you or they’re able to leave the practice for the day, they know that they’ve got everything done that they were supposed to. And that clarity really leads to ownership and in our experience where we see that front desk person or the office manager really has an understanding of how that practice is supposed to run, and what’s supposed to happen at the end of the day to make sure that all money was collected and all patients got taken care of, then they typically feel much more vested in the success of the practice. So, that’s the subject matter for today and that’s how we’re gonna go about tackling this.

Two, we’re gonna divide this into a couple of different categories and we’re gonna start out with money. Money is just never a bad place to start out with, right? So one of the simpler things that each practice expects to be done every single day is, patients walk through the door, they’re paying copayments, coinsurance, deductibles and deductible season is rapidly coming to an end, but I still see it happening. And all of that money that came through the door, in addition to any paper checks or even electronic trust funds transfer, [inaudible 00:02:21] for the day, how do we make sure that all of the things that get posted in the system in Vericle are actually, you know, getting to the bank account? So we’re going to start out with how to we’re gonna actually reconcile those two things. So just one little recommendation as far as where should they go and what should they look at first if they’re going to try and reconcile how much money came into the practice versus what they’re actually gonna deposit for that day?

Jessica: Well, there is a number of different reports in our system. What I usually recommend for reconciling the cash and the paper checks that they got from their patient is actually in the checking cash report. It breaks it down…the cash, of course, is all on together and nothing specifically add in a random code in the check number when they’re adding it on the patient account. But the check in cash report will break it down by each check number, so it’s a lot easier to match it up check number by check number. And that way as something’s entered in the system, they’re able…and can’t find the check they know exactly what check they’re missing and exactly which patient it’s from and vice versa. If they have a check and they can’t find it on that report, they know that that check was not entered.

Jason: Oh, perfect. And we’ll show them that in just one second. But I’ve visited a lot of practices, and I’ve been there at the end of the day. I was in Vegas last year with a real high volume practice. You know, they had a couple of inboxes, right? And they had the drawer where they have the checks from the patients and the cash from the patient, you know, they have a credit card machine right then and there. Hopefully, they’re using an integrated credit card solution where they’re able to run that report and see exactly, you know, what number was associated with credit card bookings for that day. But, in the drawer right next to it was backed up all the checks that they received from the insurance company. So, what you’re describing, though, wouldn’t just help them with the cash, right, that they received from patients. They will use that same process for any insurance checks that they got as well, right?

Jessica: Yeah, so any insurance check that they got, if they are using one of our billing teams, they’ll send over those BOPs [SP], the team will post them and then they’d be able to match it again on that same exact report. If they are posting those checks themselves, it’s just the same as posting patient payment so they’d be able to verify it right away.

Jason: Thanks, nice. All right. So, we will walk through that just one second. Just kind of setting up the demo that we’re gonna show them. And then besides that, you know, as far as money is concerned, what about the credit card stuff that [inaudible 00:05:03]. Does the check and cash report include anything that…a credit card transaction?

Jessica: Yes, it will. It will show all the credit card transactions as well. They will be on their own lines so they can track those. We also do have other specific credit card reports that they can walk through just to verify that one, everything came over, and two, that not only did it come over that our system did load it because we do have occasions, depending on which integrated credit card processor they use, if it’s not set up right, we might get the information but not know what patient it’s for. So, they need to be able to…

Jason: Associate those…

Jessica: Associate those so it actually loads.

Jason: I asked a leading question because it’s called the Check and Cash Report and, you know, a credit card just doesn’t follow into it. I just wanna make sure everyone understands that when we’re looking at check and cash, it’s really pretty much any transaction that you’ve got going in the system. Let’s get into the check and cash report, and as we’re gonna be looking at this, the one thing I want…if you’re a practice owner or if you’re in charge of looking at the bottom line for a specific day, this can be a little misleading because it’s not gonna give you necessarily a lump sum. So there’s other ways of looking at what a day looks like for you, and we’ll get into that next. But here if you’ve got a transaction that you’re actually trying to make sure… You know, you post it in the system and you’re about to go you know put a deposit in and you want to reconcile those two things, this will show us what this report does.

Jessica: Right. So when you come into this report, it will show you all of your unreconciled items starting from when you first joined us. It will stop at about 99 records, so you might need to use the advanced search at the top, put in a big range if you had not been using this and you wish to start. That way you can search for just this month or just this week or whatever exact date range you’re looking for, and this advanced search is just…really has a date range and you just…. So that’s the date range and here is the search button and it will show you those items. But once you get the list up of those items that you wish to reconcile, you’re going to find the check numbers over here. These happen to be check numbers for our demo practice from one of our integrated…

Jason: Partners.

Jessica: …partners. So, these are actually individual transactions from an integrated credit card company. So, you’ll see that they each have their own line. So, we’re able to match up those total amounts based on our report from that integrated company to make sure that they all transferred over. We have personal check numbers are usually the small ones. And then if we did have any…here we go, some…maybe some EFTs or some check numbers from insurance companies, it can be a little longer. And then each day has one lump sum of all the cash and any manual credit cards. These are ones that you did not run through our credit card…integrated credit card processor. So if you’re using an integrated one, and you are manually posting credit card payments on the bottom of the Trans tab, collecting [SP] credit card, those would be grouped in with the cash on this line. At the end of the day, it would just lump sum all of those together.

Jason: Remember, this should mirror a deposit slip, right?

Jessica: Yeah.

Jason: Deposit slip for every single check you have, you have a line item. And here, for every single check you have, you have a line item, right?

Jessica: Yup.

Jason: Those things match up. So, when somebody is going to reconcile all of the checks that you have posted in the system, you should be able to find all the ones that are posted versus all the ones that you are depositing. And that’s the point of today’s [inaudible 00:09:07]. You should be able to match those things up and say, “All right, everything that I’m putting in the bank account is in Vericle already,” and have some confidence. So if somebody comes and asks you, “Hey, what’s today’s take?” Here is the deposit slip. How do you know all that is in Vericle? You will be able to go look at the transaction say, “They’re done.”

Jessica: Yeah, the only slight hiccup there might be is if you just got the mail and just faxed over those BOPs for your team to enter, there will be a delay, not instantaneous, for just those items that you just faxed over to the team. But otherwise, you’re gonna be able to find everything on here. Those little icons on the left-hand side will tell you exactly what patient they for. If they are for multiple patients, all of them will be listed. Actually, it lists out each specific CBT [PS] if went to a line item or it will just list out this the account if it went to the account level. They can drill down and get more information there. And then to reconcile this, what you’re gonna do, you’re going to click in the deposit date field. That’s going to fill in today’s date because today is the day that you’re going to deposit that into the bank account. It is editable so if perhaps you do this once a week and deposit everything once a week but you’re doing this throughout the week, you can set that for a date in the future. And then you can also click in this deposit amount field which, again, will copy over that check amount. That check amount is what has been entered on patient’s account. So, that is what…it should match the check that’s in your hand.

So click in the deposit amount field. We do copy that over it. If it is not matching, you want to change this number to what you have and if it’s anything that the team has entered or that insurance has sent you, a task will be opened and you and your team will go in and look at that, try to get you information about confirming, first, that it wasn’t just a typo, but they’ll get you in more…

Jason: Typos happen.

Jessica: Yeah, typos happening, but they will reach out to insurance and get some additional information to help you.

Jason: Ideally, it’s a typo. Ideally, it’s somebody missed a decimal point, but it absolutely happens where even with personal checks, you know, somebody thought it was $232, but it was $230. It was just a handwriting mistake and you have to figure out, you know, what exactly happened there. So there are lots of reasons but when it comes to insurance, and you have an automatic posting of…an ERA [SP] here and you know, you’re off by $31 or whatever the difference is, those can be a little bit more challenging to track down. And our billing team, who are for all our full-service clients, have a specific protocol that they need to follow to go figure out what’s going on here. But what we like about it, though, Jess is, yeah, if it falls to 46 because that’s what the expectation is. If it’s 42, you know, you put 42 in there and then, automatically, a task is opened. The provider doesn’t have to do anything else.

Jessica: Right. And if it’s something that the team can assist you with, they will, of course. If it is anything manual is hosted by the practice, a task will be sent back over to you and let you know, “Hey, you know this was a cash [inaudible 00:12:32]. You need to look into that.” But this is a great way to have kind of like a checklist. You know, this one was verified, this one wasn’t, this one was verified throughout each day, each week, however often you wanna come in here.

Jason: And what I like about it is it’s a great day to day tool to use. But at the end of the month, you’re gonna see a list of unreconciled payments. Right? Things that…for everyone who’s a full-service listening, we billed you for it. You know, if it’s an insurance payment, we billed you for it. And why aren’t we seeing that in my deposit slip for the bank? So if it is an electronic funds transfer, it could make sense. Right? You know going there at the end of the month, let’s just say, and spend some time reconciling your electronic funds transfers or ATHs [SP]. In the case of it was a paper check, you’re gonna want to ask, “Where that check? I’d really like to know. I remember earning that money, and I would very much like the ability to spend it.” So this is a part of that reconciliation process. If your staff is doing this on a day to day basis for all of your transactions, the ability to sift and filter to find the ones that are missing is a lot easier. And that list for most of our practices who are doing this end up being pretty small.

Jessica: Yeah, and what they see is this report does talk to the reports reconciliation monthly invoice report for our full-service practices.

Jason: Just make sure they know what you mean when you say that it talks. It communicates meaning, if they reconcile here, it marks that it’s reconciled in their monthly invoice?

Jessica: It does not mark it as reconciled. What happens is, if you fill in this deposit date on the check and cash and for all the lines throughout the month, when the monthly invoice report is run, which happens on the overnight between the last night of one month and the first day of the next month, that monthly invoice report generates. And if you have filled in these deposit dates throughout the month, these deposit dates will show up on that monthly invoice report. So you can easily see which rows you’ve already reconciled and that’s just a quick check, yes, that was reconciled going down the list. And then you’re just left with those few, most likely at the end of the month, that have not yet been reconciled. It just makes that a lot easier and…rather at the beginning of each month to do the reconciliation.

Jason: For most of our doctors, they understand regular maintenance is better than acute effort to fix the problem, so I can appreciate that. So just remember, if anyone is having any questions while we’re going throughout this webinar, feel free to type them in and then we’ll answer them as we go. So, this is a pretty good view, thanks, Jess, into what somebody’s supposed to do with the money that’s coming through. What if the provider wants to take a look at a snapshot of what today looked like? Where would we send them at the end of the day to take a look at what happened for them that day?

Jessica: Well, then what they probably are going to wanna take a look at is the summary report.

Jason: And could you show them how to get to the summary report?

Jessica: Sure. Report, Practice, Summary. And I don’t think I had told them how to get the other one. It’s Report, Reconciliation, Check and cash. So on this report, you’re going to have a list of new patients, private pay…

Jason: Probably wanna zoom in just a little bit for that one. I know, for anyone watching, they’re not going to the see all of the rows, but we’ll scroll all over make sure you can get a vantage point of all of them.

Jessica: Right. So, we have some visit information on the left-hand side. How many visits are checked in, how many have checked out, pretty much billed out, but what you see is checked out ones, and how many of those were cash, how many were insurance. We do have a number of little qualifiers off at the top about explaining exactly how we count these.

Jason: I’ll give an example for anybody who is wondering. For instance, you wanna to take a look at new patients, right? How does one check in a new patient or count a new patient? Our offices for years have said, “Well, any time I create a new patient account. I don’t create a new patient account unless somebody is a new patient.” Other people will say, “Well, we create lots of new patient accounts for screening and other reasons,” but it doesn’t mean their actual patient accounts. Somebody who has something on the schedule is considered a new patient. And then furthermore, we have two other categories where practices who would say, “I don’t wanna count somebody until they’re checked in.” And we even have a group of some doctors who would say, “I don’t wanna count anybody until they’re checked out.”

Jessica: We also have that group that if they were a patient, left, and now they’re coming back, they wanna count them again as a new patient, yeah.

Jason: That’s right. So, what we do is we provide descriptions at the top of this page letting you know exactly how we’re actually counting this so that you can rely on the numbers and you know what it is.

Jessica: Right. And especially if you’re trying to add up the visits and seeing why they’re not matching, you know, point of sale gets thrown in the mix in that there’s often numbers because, of course, you have to count those point of sales as well. But on the right-hand side, we have some billing information. So we have added up all of the charges that they’ve entered for the date range in the insurance billed column, any of those direct to patients claims including POS, or just any wellness care or you know cash patients. That’s gonna be under cash bill, and then we have insurance collections and cash collection totals as well.

Jason: So this is where a practice owner can just come in and run this for today?

Jessica: They can run this for today. One thing to be aware of, there are a number of different ways to count what day money should be counted for. For example, if I was billing today and I was billing some of my visits from yesterday because I didn’t finish, then this report, by default, would have yesterday as the date that that was billed, because that’s the day of the service, so for charges, it’s the date of service for insurance billed. But I had…couldn’t actually create it until today. So we actually have added down at the bottom, and let me actually move this little thing out of our way. There is a new feature currently on our beta server that will allow us to change which date this report is run off of. So by default, it’s run off the posting dates which is for charges, the date of service, for payment, it’s the date that is entered along with that payment. So when the payment is entered, you have a date field that you can choose what date to put it in as, it’s that date. If you choose instead to check this box at the bottom, that says run insurance and cash collected transactions by date created, then it’s going to be when it was actually entered into the system.

Jason: So, if you’re billing out the service from two days ago because for whatever reason, you didn’t wanna do it out on the date of service and you check that, then and it’s going to count it for the date that you actually created the charge, not the date of service?

Jessica: And it’s the same thing for the posting. So for ERA, we get a check date from the insurance company. They say, “Here is your check. It’s for this amount and the check date is…”

Jason: February, 16th.

Jessica: “February 16th.” So we’re gonna post in the system with the date of February 16th. But we didn’t enter it until today. So depending on whether you check this box or not, it may or may not open this report. If you’re running it on…right now, I’m running it just for the month of March, and I did not check this box so I’m running it currently off of the posting date. So that check that we entered with the check date of 2/16, not going to be included in this total. But, since I entered it today, if I checked this box and said, “Run it by date created.” It was created today. There is no way to edit that. Today was the day it was entered in the system. Today is the date…the creation date of that payment. So if is check this box, that payment will show up.

Jason: So, you’re a practice owner, you’re an office manager and it’s your job to make sure that the day went well. And you’re gonna go ahead as part of your daily process, you’re going to bring up the summary report and, you know, appointments checked in, appointments checked out. The expectation is that those numbers are gonna match, right? Meaning that all of your visitors got checked and then checked out.

Jessica: Right.

Jason: You’re gonna keep going down the list to insurance bills. Kind of an eyeball type number where…all right…

Jessica: X number of visits between insurance billed and cash billed.

Jason: A sanity check that you’re billing out the right amount. You can click on that number and actually look at the chargers, should you want to, right? All these numbers that are colored in blue are drillable. Is that a word you can use here where that means you can click on it and…?

Jessica: It’s what we use in our pages so I hope so.

Jason: Yeah, what we use pretty much companywide. Insurance collected, you know, and that’s the part of that reconciliation process that we were talking about where you’re gonna see a lump sum come in. You know, you got your insurance checks and you know if you got 100 and of them and they’re all really small, that can be challenging but you know if you’ve already reconciled all of them, you know that the number’s right. You know you can depend on it. Same thing with the cash collected of, you know, $9,000. If you’re looking at it just for today, and I understand you’re looking at month to date here in March, you’re able to see ballpark, “All right, great, here’s the amount of money that I collected today. Here’s what my deposit is,” and it helps you do another sanity check for your practice’s health. There is one possible problem I want to bring up here with all of this. And I actually…I’m almost hesitant to bring it up but because it happens so infrequently. This is a practice that I’d like every single practice owner to get into and that is checking this number in making sure that if you knew you had, you know, 45 cash patients coming in today, you see 45 cash patients checked out. There are people who have a tendency, if somebody is paying with cash, to pocket that money. There is no foolproof way of finding this without going in and checking, but you at least have to have your finger on the pulse of what your cash collection’s expectation was for a day like that versus what you have posted, versus what’s on the deposit slip. For practice owners, it’s a really good thing to do.

We’ve got this practice owner in Texas, who I think does it better than anybody else. His name is Dr. Jimmy, and he makes sure that he knows exactly how much cash he was expecting to get that day. If it’s below the number, he’d be able to go into the transactions and see, you know, if a patient did or didn’t show up or you know, if it’s more than it was supposed to be, did they buy extra point of sale items, etc. You wanna be aware of that because front desk staff, office managers do have the ability to write off a charge and pocket money. So, something to be aware of as you’re training your staff to actually do the end of day reconciliation for you. But moving down the line here, you see missed appointments. What exactly is missed appointments, Jess?

Jessica: Missed appointment is no-shows. They did not call and cancel. They simply did not show up for their visit.

Jason: So you see this number on the rise, especially from a day to day basis. You know, if you had 26 appointments scheduled for today and you had 13 as a no-show, it to a great way on a day to day basis to alert you to the fact that you could have a mounting problem and you really wanna understand what went wrong. And it’s one of those indicators that will help you understand if you have a broken process somewhere.

Jessica: The next one, recalls, is still the patient didn’t show up but this time, they have either been called and got a cancellation from them and rescheduled or they called prior to their missed appointment and let you know that they were not going to show up. Basically, if the appointment, instead of being a no-show on the schedule, it is a cancel on the schedule.

Jason: Perfect. And rounding up these numbers, you know, giving you your visit average and your visit average excluding your free visits. Again, your visit average, the first number of $32.39 is the more reliable number. But we have lots of people who use care plans within Vericle and those care plans have free visits as a part of that care plan. And so we’ve had that request made a number of times to include what that would look like, and that’s why you see that increase in the amount of money reimbursed by either patient or insurance per visit. And the finally, it gives you a snapshot of how many claims are on the provider claims workbench and what they’re worth. I like this snapshot in here, and I don’t know if you can hear me smiling through the phone. For those practice owners who are really bought in, for the ones who really use the system the way it’s intended, they should be logging out at this number either at zero or very, very close to zero.

Jessica: One thing to be aware of is these numbers are, as Jason is saying, snapshotted, which means this number is recorded each night probably around like 10 p.m. Eastern or something. So when you’re looking at these, you’re actually looking at the previous night’s snapshots.

Jason: Actually, I got the information that. It’s an 8 p.m. snapshot, 8 p.m. Eastern snapshot of that number. So you know, if you’re looking at it 7:54 and the number is high, you know, you can catch your breath and wait six minutes and look at it again. Or better yet, you can go click on the workbench, you know, and actually, take a look at what it is. But it will give you a very good idea of what the current snapshot is. You know, for the practice that we’re looking at right now, 249 workbench claims. Pretty significant to be even on a workbench of 8 a.m. And so that should raise a red flag for you. That you’ve got something in your office that’s broken because your office staff or you if you’re responsible for it, should be working those claims and getting those driven much, much lower than 249 if not zero for the health of your practice. So let’s tie a bow on this one.

Your day to day you’ve got the transactions coming in, we recommend a check and cash report. They can do that throughout the day. That doesn’t have to be end day, the second the check comes in. They can go, they can reconcile it, add it to a deposit slip. I know a couple of practices that do that. I don’t know if it’s common practice. But at the end of the day, they can go and do that check and cash report. It should be a part of an everyday process that you’re doing. I know some very successful practices that only do it once a week. They have, typically, lower volume. For your high volume practices, this is recommended every single day. The summary report helps you get both a financial snapshot of what should be deposited as well as an operational snapshot of patients that showed up, the actual dollars that were billed out so you can see, you know, what’s happening there and gives you some key indicators on how the day went as far as cancels or no-shows as well.

And lastly, what we were just talking about, operationally speaking, you may have had a great day but if you ended a day with 250 claims on a workbench, there were still some key activities that were missed in order for your practice to have run optimally for that day. And so this summary report really helps practice owners round out their day, not only with the numbers for collections but the numbers for the things that practice staff should have been doing. And that really lends itself to that clarity where you can you use this report as a way to say, “Hey, guys at the end of the day, I wanna make sure we’ve had a whole bunch of no-shows, that we’ve had them all called.” Workbench claims on the workbench, there should be a good reason for it or they shouldn’t be there.

I think this really kind of rounds out what we’re looking to do. Every single day, there should be a reconciliation on how the practice did for the day. If there was a problem, we can open tasks, we can ask for help or there’s maybe a misunderstanding on the number. Maybe you look at the number and seeing that it’s just not right. It’s happened before. It’s infrequent, but if you bring it to our attention, we’d be thrilled to help with that. But best practices are doing this every single day. And as I just stated, and I will reiterate, really reconciling those checks and confirming that they’re in the system is gonna lead to some of the healthiest practices that we’ve ever seen because they know they’re getting every dollar that they are supposed to.

Jessica: Yes. And just be aware sometimes we do get ERA, especially with those EFTs where they’re sending the money to you. We do get ERA often before they actually cut the check or send that file to you. So just because you don’t see it right now, it doesn’t mean you’re not getting it, but definitely say, “Hey, we didn’t get it.” The teams can always reach out. The insurance company will tell them, “Oh, yeah, we haven’t got that check yet.” So, definitely…

Jason: There’s a lag of time is what you’re saying?

Jessica: Yeah.

Jason: And the lag can go both ways. We post it in the system and you don’t have the check yet or you got to check yet and it was a paper one and…

Jessica: We haven’t posted it yet.

Jason: We haven’t posted it yet.

Jessica: The team’s working on the file that you sent them, right?

Jason: Or sometimes there was a little bit of a lag time between you getting it and you sending a work copy of it. And that’s okay. We wanna make sure we reduce those. And that’s really the presentation for today. These are best practices. We have the distinguished opportunity to work with so many practices. You have helped us hone in on what numbers were needed on a day to day basis to help them close out their practice for the day. And these reports and these processes are the results of working with those practices. If anyone has any questions, please feel free to type them in right now, and we’ll be happy to answer them. And just remember, you can hang out and if you have other questions, we’ll…you know, we’re happy to take few minutes out and answer those after this as well.

That new practice that we have in Maryland, I was having conversations regarding, you know, end of the summary and you know how other systems measure collections, you know, [inaudible 00:32:10] is just different, right? Based on date of service versus date posted, and it can really change impression on how well the day went. And I’m glad we added that feature because now anybody who wants to look at it either way because there’s really only two ways of looking at it, can have what they’re looking for.

Jessica: Yeah, we have a report pretty much running off of three different dates. Date of service, posting date and creation date. So People can look at things any way they want. The only issue is when they start trying to compare two different dates and wondering why it doesn’t match.

Jason: Why it didn’t match up, yeah. It’s a good one. We have a question now. We find the checks the system and they match. What happens in the office? How do we mark it as matching in the report? Great question by Jane.

Jessica: So on the check and cash, all you gonna do, you’re going to click the deposit date, enter that you’re depositing it today. You’re going to click in the amount so it fills in the amount and it matches, and you’re going to hit save. That is considered reconciled on this report. Again, if you are up to date and you only have this report showing you the unmatched, unreconciled items when you first come in here, it only shows you unreconciled, but it shows you from the beginning of the time that you joined up for everything that is unreconciled, and it only shows 99 at a time. So, if you are up to date and you’re keeping up to date each month, when you first come in here, all you will see is those unreconciled items so you are not trying to sift through all those ones that you already reconciled. If you have been with us for a while and you are seeing you know 2014 payments in here, and you’re using the date range up at the top, we will show you all of those other checks between those dates that you selected. If you really want to, this 14 can clear this out, your past history on this one report, so you can start fresh and you’ll only see those unreconciled items. That way as soon as you come in here, all you’re seeing is the items that are still left to reconcile.

Jason: So Jane, let us know if that answered your question. You just simply click on the deposit amount. It will automatically default to the same amount that we have posted and if that works, you just click save, and that is now reconciled.

Jessica: Yup. All right.

Jason: Perfect. Yeah, I think that’s a good thing to reiterate, though. If you’ve been with this a while and you wanna get started with this, wow, we really encourage you to do that.

Jessica: We don’t encourage. We will do it.

Jason: Maybe you’re misunderstanding me. I wanna make sure I clarify because if I’m not communicating with you, Jess, I can assure you that perhaps our clients aren’t… If you haven’t wanna reconciled in a while and you wanna get started, we do courage you getting started. But how you get started and how you go about it is something we probably wanna work with you on before you simply dive in. Because sifting through, I’ll use your term because I think it’s best, years of unreconciled payments can be a real challenge. You’ll most likely wanna choose a starting point from recent.

Jessica: Yeah. We usually recommend starting recent and if you wanna go backwards, fine, but start recent and go backward. And of course, the longer something…the older something it is, the more difficult to get information out of the payers and…

Jason: Something that I found and that I see quite often is, you wanna do anything older than six months or a year in some online banking systems, you have to actually send away for manual or paper copies of the records. They just won’t go back far. So, any other question from people watching the webinar?

Jessica: They can ask on any topic now.

Jason: Any topic. Opening it up to any topic. I got some good questions on the Trans tab yesterday from a provider. All right, I hope there are no other questions. Thank you again so much for tuning in today. Oh, got a last second question from Jane, again, fantastic. Are we supposed to wait until the item is actually deposited before we mark it under the deposit amount on the report?

Jessica: No, you don’t have to. It really depends on the process that you practice. A lot of people have a deposit bag or at the end of the day that they’re going through. If it’s a check, they usually just throughout the day are putting them in that bag. So it would be if that bag is getting deposited today, you’re going to fill in today’s date, you’re gonna fill in the amount, hit Save, take that check, and put it in your deposit bag or…

Jason: That’s what we find most people do. As they’re going, they actually, you know, mark these off. You know, they post it, they put in the bag, they add it to the line item, and then at the end of the day, they tally everything up and go to the bank and drop it off.

Jessica: One thing you do not want to do is add up the cash and credit card before the end of the day as this is one lump sum. It adds up everything for that day. If you come in here and fill in the amount at 4 p.m. because it’s quiet and you don’t think anyone is coming in and then someone walks in and the doctor sees them or the therapist sees them and they pay cash for their copay, all of a sudden, you’ve entered an amount in the system that no longer matches on this report. And if you don’t come in here and fix it, that task is going to get opened saying that…

Jason: You have a mismatch.

Jessica: …the mismatch, yeah, because the check amount will update, but your deposit amount that you’ve entered will not update automatically. That is something you would have to come in and change. So definitely, for the cash and credit card lines, end of day, the office is locked and no one else is coming in.

Jason: I just thought, at this point, do another going once, going twice type statement. Any other questions? Happy to answer. Well, guys, again, a wonderful Tuesday. Looking forward to next week. We actually had, by popular demand, that I got on my email address is the one tied to the feedback. So, anybody who’s on there listening or comes in a little bit later as we publish this, we’ve had lots of requests for, how do we handle multiple specialties? So, you know, probably it’ll take a couple weeks for us put that content together. We’ll probably have to do something special for that. But we heard you, and we will be putting that together. Thanks, guys.

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