Accounts Receivable Tool Kit
(Excerpts from “Realizing Your Viability – The Tenets of A Successful Organization”)
o Components of an Effective Month-End Close Process
o Procedure for Processing and Posting Cash Receipts
o Procedure for Processing, Tracking and Reporting Claim
o Procedure to Identify, Monitor and consistently Perform
o Process to Balance Patient Accounts Receivable to the
o Process to Balance Patient Cash Receipts to the General
o Calculation of Days in Account Receivable
o Example of Days in Accounts Receivable by Funding Stream
An Effective Month-End Close Process
Centralized Billing Office responsibility:
Private Pay Review
• Run final Service Ticket Control Log through the month end date.
• All Service Tickets must be accounted for before Month End procedures can
• Run Audit Report for all services that were recorded in Self Pay for the month by
• Review each client to determine if these services, in fact, should be recorded to
Self Pay. If not, make eligibility information changes and include in recalculation
of fees process.
• Run audit report to check all other payers.
• Review for reasonableness number of services, dollar amounts, etc.
• Review any New Admissions to Ensure Accurate Eligibility information.
• Make any Eligibility information changes needed.
• Recalculate Fees.
• Run other audit reports to validate required data elements for billing, i.e.
• To balance cash, Centralized Billing will make use of daily cash logs; the general
ledger functions of your accounting software, journal entry information from
accounting, and other accounts receivable reports/tools you have available. (See
Balancing Cash Instructions)
• Daily Deposits can be tracked by a spreadsheet for Patient related deposits with a
running monthly total to be use for balancing each day’s cash as it is poste