Healthcare Finance and Accounting Services
| General Accounting |
Cash Management |
Transaction Processing |
| Expense Accounting |
Bank Reconciliation |
Accounts Payables |
| Fixed asset accounting and management |
Cash application and balancing |
Accounts Receivables |
| Payroll and benefit administration |
Cash flow analysis |
Billings & Collections |
| Accounts Reconciliation |
Funds flow analysis |
Cash Disbursements |
| Federal Tax calculation and Accounting |
Financial Analysis |
Regulatory and Compliance Processing |
| Reporting and MIS |
Apart from General Accounting, Treasury/Cash Management & Transactional Processing for the healthcare industry, we also associate with our clientele for the below support areas:
- Accounts reconciliation & statement preparation
- Financial analysis & reporting
- Process mapping, gap analysis & re-engineering
- Policy & statutory compliance documentation
- Sarbanes-Oxley (SOX) Act compliance and audit support
ACCOUNTS RECEIVABLES
Promantra's receivable experience in healthcare accounting is extensive. We improve client cash-flow and reduce days in A/R, collection ratio and increase likelihood of payments through timely follow up. Our clients typically experience; improved cash flow and working capital, reduced AR delinquency and write-offs, reduced denials for claims and deductions.
Our Healthcare Finance and Accounting Services include:
- Accounts receivable, credit and collection.
- Follow-up of pending claims and resolution of denied claims.
- Follow-up calls with various payors for denials.
- Follow-up for underpaid claims.
- Coordinate with facility SPOC for submitting additional forms for documentation denied claims.
- Periodic collection calls to private residents.
- Terminated contract receivables
- Retroactive Adjustments and Customer Underpayments.
ACCOUNTS PAYABLES
Promantra Accounts Payable services for the healthcare industry include an end-to-end solution for managing receipt, processing, and payment of our clients' invoices.
The list of AP Services includes:
- Maintenance of vendor masters
- Processing of vendor invoices like equipment suppliers / utility vendors / component suppliers
- Processing of employee reimbursements / payroll advances / garnishment etc.
- Verification into proper authorizations
- Maintaining lease schedules
- Reporting of vendor aging & activity
- Prompting the clients on due dates
- Printing of vendor checks
- Providing a report on cleared v/s outstanding vendor checks
- Issuing Year End 1099 Forms
There are many benefits to be derived from partnering with Promantra for Healthcare Finance and Accounting - AR & AP Services.
These benefits include, but are not limited to, increased cash flow, reduced operating costs, fewer delinquencies resulting in lower collection costs, and improved Resident service.
Healthcare Finance and Accounting Services
General Accounting, Fixed Asset and Depreciation Accounting, Treasury & Cash Management, Book Closing and preparation of Statutory Reports, preparation of customized MIS reports and Metrics for Performance Review and Accounts Reconciliation.
For more information about our Healthcare Finance and Accounting Services, call 1-732-414-3678 and speak to one of our experts.
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