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Batch entry
of payments
Traditional software
There is no record in which to enter E.O.B. totals...i.e. the insurance
check information. For instance, in one spot, you can't enter the
check date, the check number and the check amount. This creates
some serious problems.
1) You miss out on the opportunity to balance the E.O.B. payment
detail with the insurance check total, before proceeding to the
next check. Since you can't balance "as you go", you have
a huge job...balancing the cash after all the checks have been processed.
Large practices can spend hours trying to reconcile the bank deposit
to the cash receipt reports. It is a huge waste of time.
2) You have to redundantly enter the check date, check number and
source of payment...in each entry you make. So, data-entry is a
slow process.
Summit-Edge
When an insurance check is processed, the check information is
entered first...followed by all the client detail from the E.O.B...so
that the payment detail adds up to the insurance check total. This
enables the cash receipt report to be quickly reconciled to the
bank deposit. Balancing the cash...even for a large practice...only
takes a couple minutes.
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