Track Cash and Checks from Collection to Bank Deposit
With HealthPay24’s Cash Management feature, your organization has complete visibility into all paper money (cash and checks) that is collected at any site within your provider organization, enabling you to digitally track the chain of custody between departments, main cashiers, and the bank.
How It Works
The Cash Management module tracks all monies that are collected by each user and assigns those collections to a Cash Drawer. At the end of the users’ shift, their Cash Drawer is closed out and assigned to a bank bag number. All bank bags are then combined into a manifest that is ready for bank deposit. Detailed digital tracking of bank bag numbers (location, creation date/time, contents) and chain of custody ensure monies are received and deposited in a timely fashion.
HealthPay24 can process patient and non-patient collections and post collections to either the A/R system or the appropriate General Ledger account as part of the overall process. Visibility into collections across your organization is provided by collection site, user, and type (cash, check) via deep reporting and analytics – keeping your provider organization free of liability and risk.