Access Payment Reconciliation
Access Payment Reconciliation leverages EFT Reassociation to ERA matching technologies to link remittance advices to payments via a reference identifier (TRN). By matching the transaction number systematically, a list of outstanding payments is generated and easily managed. The HHS standard identifies the EFT transaction as a HIPAA transaction, and requiring Payers to provide the payment as an EFT via the ACH Network if requested by the Provider.
Reconciliation is challenging due to the complications of balancing transactions from a variety of sources. Reconcilers need to review transactions from the HIS/PM system as well as log into the bank deposit account. Many still utilize spreadsheets to track this process.
Even if providers have converted to 80 or 90 percent electronic remittances and payments, reconciliation can become a challenging exercise to reconcile the following scenarios:
- Electronic claims (837) to electronic remittances (835) and EFT payments (ACH)
- Electronic claims (837) to electronic remittances (835) and paper payments (check-only)
- Electronic claims (837) to paper remittances (EOB) and paper payments (check)
- Electronic claims (837) to paper remittances (EOB) and EFT payments (ACH)