Simplifying financial reporting
Topics: Denials Management, Revenue Cycle, Finance
Month-end reporting is always daunting, especially when trying to calculate accruals for unbilled accounts, accurately net down A/R, and determine the exact balance for accounts that may span multiple accounting periods.
How We Help
Effortlessness month-end and financial close processing
Payment Integrity Compass enables our clients to automate the complex month-end task of calculating accrual revenue, including “discharge, not final billed” and in-house accounts. These net revenue numbers, once calculated, can be automatically posted back to your general ledger and other financial systems.
Specifically, Payment Integrity Compass enables you to:
- Calculate net patient revenue accruals for all accounts across all payers
- Use calculations to compare against your host system for accuracy
- Identify any account issues by recognizing variances
- Create contractual adjustments when an account is final billed
- Create custom reports combining date of services, billing status, and accounting period
- Perform calculations on interim bills
Interface to all financial systems
Once accounts have been identified as final billed in Payment Integrity Compass, you can use the expected reimbursement, adjustments, and contractual allowances calculated to net down A/R in your host system.
Powerful, precise reporting
Our customers use ad-hoc and standard reporting to automatically run pre- and post-close to ensure accurate management reporting and financial closing review. Payment Integrity Compass gives users visibility down to the account and transaction levels.
Flexibility to support your specific approach
Clients can use contractual adjustments to net down their A/R in their host systems, thus affecting their general ledger. Payment Integrity Compass becomes a facility’s default sub-ledger—keeping the two systems in sync is essential to good accounting practice.
Contact us to learn more about Payment Integrity Compass
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