Improper and/or Unsecured Bank Deposits and Payment Posting

ASC Revenue Leak Tip

Implement systems to safeguard the receiving and depositing of all monies received by the ASC. Follow these steps:

  • Post all monies received to patient accounts on the day received.

  • Generate posting batch reports daily. Batch report and daily deposit must balance, and deposit should not be made to the bank until balanced. 

  • Itemize all monies received on a bank deposit form (cash, patient and payer checks, credit cards).

  • Complete official bank deposit slips and include them with collected monies when brought to the bank.

  • If available, use lockbox deposits as funds are automatically deposited in the bank, thus eliminating handling of money. 

  • Ensure someone other than the payment poster — preferable a member of management — makes bank deposits.

Access other tips in this series on ASC revenue leaks.

Never miss a new tip by following Serbin Medical Billing's LinkedIn page!

Join Our Mailing List

* indicates required