Lifetrenz Hospital - Account Receivables Process
Lifetrenz Hospital Management System has a robust Finance Management Module with a reliable Accounts Receivables process, to help manage the Revenue Cycle efficiently. Keeping track of account receivables and timely follow up and realising the outstanding payments contribute greatly to healthy financial management of a Hospital.
This activity becomes very critical for most of the Hospitals, as the number of patients who avail healthcare services through health insurance or third party payers are on the rise. It is extremely important to keep regular track of Accounts Receivables to avoid any payment realization complications after a prolonged delay in recovery action. Lifetrenz Hospital Management System has a reliable and user-friendly Accounts Receivables process to maintain the integrity of financial operations and also timely realization of dues.
3 Key Features of Hospital Management System - Accounts Receivables
Accurate AR Statements
Lifetrenz Hospital Management System’s Accounts Receivables Process is designed on the unique Patient-Centric approach of Lifetrenz Hospital, wherein all the billable charge items gets captured based on the pre-set business rules and operational & clinical actions rendered for the patient, making it easy to generate the Accounts Receivables statements accurately and up-to-time.
AR Follow up & Receipts Reconciliation
Lifetrenz Hospital Management Accounts Receivables module has a built-in process to perform follow-up on Account Receivables for recovery of dues. All the actions taken are recorded and next required action and date are also captured. Users are reminded of due actions on a regular basis. The System also records payments received and reconciles the same against Bank Statements.
AR Aging Reports
Lifetrenz Hospital Management Accounts Receivables module enables the users to keep track of all types of Account Receivables from individual Patients and Payee Organizations like Third party insurance administrators and corporate entities. The users can generate customized AR Aging Reports as and when needed.