Accounts Receivable and RA Reconcillation

The Lifetrenz RCM solution has an elaborate Accounts Receivable module to manage all account receivables and reconcile remittance advice from insurance payments.
When the bills are finalized in OP DNFB, appropriate ledger postings are done to the Patient, Receiver and/or Organization (Corporate) ledgers. The System maintains the ‘Accounts Receivable’ for each Patient, Receiver and/or Organization (Corporate), and provisions for reconciling payment receipts against bills in full or partial. The System has a provision to follow-up and track receivables from patients and organization and maintains a transaction history for each case.
The System also has the provision to record disputes (at bill level or item level) and following the dispute until a write-off or settlement is reached. Disputes and write-off can be handled in the System even after payments are received and the case has moved out of the AR list. The various buckets/ queues maintained in the AR module of Lifetrenz System are - 'AR Statement', 'AR Follow Up', 'AR Receipts', AR Bank Reconciliation', 'Closed/Paid Bills' & 'Write Offs'.
AR Statement bucket - The AR Statement bucket lists all cases which have full or partial balance against bills. Users can filter the case by date range of bill, payment status, age, payer etc. and generate reports. Users can also view all information of the bill, like payer details, patient details, bill details or the transaction history of the case.
AR Follow-up bucket - The AR Follow Up bucket allows users to record any action taken, and in communicating with the customer about the case and marking the next action date. To help proactively act on the case, the System also provides a queue by next action date for follow up actions.
Provision is also available to mark any dispute raised on the customer and record the dispute at bill level or bill item level. If the dispute resolution necessitates a write off, the write off can also be captured (and the ledger postings are also appropriately handled).
AR Receipts bucket - This bucket is used to capture any receipts received from the customer against unpaid bills. The payment mode and adjustment of payment against one or more bills in full or partial is handled by the System.
Closed/Paid Bills bucket - All cases that have been paid in full with no dues, are listed in this bucket. Users can view the transaction history of the case. The System also allows capturing any dispute or thereafter writing off on closed bills which can happen in exceptional cases.
Write Offs bucket - Any case that involves a full or partial write off is listed in this bucket. The user can view the transaction history of the case and also view the details of the written off amount.