Biller Invoice Verification
Regular Verification Service
At Way2Cloud, we specialize in providing comprehensive healthcare revenue cycle management solutions. Through our Biller Invoice Verification process, we obtain view access to your bank account and perform weekly reconciliations of all incoming payments with billed claims.
Empowering Financial Precision:
Optimizing Revenue with Biller Invoice Verification.
Improved Financial Accuracy :
By performing bi-monthly bank reconciliations and matching receivables with bank deposits, we ensure precise financial records, reducing errors and discrepancies.
Swift Discrepancy Resolution :
Promptly flagging and resolving "Not Found" entries through proactive communication with insurance companies streamlines the revenue collection process.
Enhanced Revenue Recovery :
With efficient follow-up on missing payments, we maximize revenue realization and minimize delays in payment processing.
Financial Transparency :
Our meticulous verification process promotes transparency, giving your healthcare facility and patients confidence in the accuracy of financial transactions.
Increased Cash Flow :
Optimized revenue cycle management and swift resolution of discrepancies lead to improved cash flow, benefiting the overall financial health of your organization.
Data-Driven Decision-Making :
Detailed reports and valuable insights from our process help in making informed, data driven decisions to optimize revenue and financial performance.
Our Simplified Process
- Streamlined Bank Reconciliation:
Through Biller Invoice Verification, we obtain view access to your bank account and perform weekly reconciliations of all incoming payments with billed claims. - Thorough Matching Process:
Our dedicated team meticulously matches receivables recorded in the billing system with actual bank deposits, ensuring accuracy and completeness. - Prompt Discrepancy Identification:
Any “Not Found” entries are promptly flagged, and we proactively reach out to insurance companies to clarify and resolve discrepancies. - Resolving Unmatched Payments:
In cases where payments are legitimate but unmatched, we take swift action to reconcile them with the appropriate receivables, updating records as needed. - Efficient Follow-Up:
For missing payments, we diligently investigate and follow up with insurance companies to ensure re-issuance, maintaining a steady flow of revenue. - Financial Integrity and Transparency:
Our meticulous verification process ensures accurate financial records, promoting transparency and trust in revenue cycle management. - Continuous Enhancements:
We continuously refine our process, striving for higher accuracy and efficiency, and provide valuable reports to support data-driven decision-making.
