Payment Posting
We Help You Post Payments Accurately and On Time
At SovereignRevenue, we know that accurate payment posting and reconciliation are vital for maintaining a healthy healthcare revenue cycle and safeguarding organizational revenue. Matching insurer payments to patient accounts, posting adjustments, and reconciling balances ensures financial accuracy while identifying denials and underpayments early. Manual processes are labor-intensive, prone to human error, and often slow cash flow visibility, creating delays in reimbursement and increasing administrative costs. Automation powered by robotic process technology streamlines posting and reconciliation by extracting remittance data, updating billing systems, and processing payments continuously with high speed and precision. This reduces errors, lowers operational costs, and accelerates reimbursements, enabling staff to focus on revenue optimization and denial management.
100%
Accurate Payment Allocation
98%
Timely Payment Posting
95%
Clear Account Reconciliation
Structured reconciliation ensures that all premiums, claims, patient payments, and bank deposits align with billing records and contractual obligations. By identifying duplicate payments, posting errors, underpayments, and incorrect write-offs before they impact finances, organizations prevent revenue leakage and compliance risks. Standardized procedures, including adjustment verification, bank-to-system matching, exception reporting, and approval controls, strengthen accuracy and maintain audit-ready financial records. Automated solutions enhance visibility, integrate multiple data sources, and flag anomalies in real time, promoting transparency and informed decision-making.
Managing credit balances involves detecting and correcting overpayments caused by duplicate payments, incorrect allowances, mis-postings, or payer errors. Timely review, validation, and resolution prevent compliance violations, audits, misstated revenue, and refund liabilities. Regular monitoring of reports, following established refund procedures, and adhering to federal and state regulations, including Medicare and Medicaid repayment timelines, ensures financial integrity. Implementing standardized policies, routine oversight, and consistent workflows reduces risk, enhances compliance, and protects overall revenue, creating a reliable, efficient, and sustainable revenue cycle.