Crowe helped a healthcare system sprint through reconciliations by automating technology and improving internal communication.
It’s a common problem for smaller and midsized hospitals and health systems: Falling behind on reconciling cash until there’s a massive backlog that can’t be worked through with conventional processes. The result for leaders of these organizations is constant uncertainty about account balances – and concerns about how that uncertainty could lead to large, unexpected profit and loss statement adjustments down the road.
That was the challenge faced by a U.S. health system that spans several licensed hospitals, medical centers, express and urgent care facilities, and specialty clinics. After a meeting with the organization’s vice president of revenue cycle, Crowe was engaged to:
- Review the organization’s current unapplied cash reconciliation processes and balances
- Make recommendations for future-state process changes
- Implement the Crowe Automated Reconciliation for healthcare solution