Intro to our account reconciliation services
At NovaMed, we specialise in providing comprehensive account reconciliation services tailored specifically for medical practices. Our consultancy is dedicated to ensuring that your financial records are accurate, up-to-date, and compliant with industry standards. We handle every aspect of account reconciliation, from identifying and resolving discrepancies to providing detailed reports. Our customisable processes are designed to meet the unique needs of your practice, ensuring financial clarity and efficiency.
Service Includes:
- Identification &resolution of discrepancies
- Reconciliation of all medical aid remittances
- Oversight of accounts with debt collector of choice
- Annual adjustments of tariffs & coding
- Customisable reconciliation process
- Periodic business valuer reports
Benefits of partnering with us
- Expertise & Accuracy: Leveraging our specialised knowledge and experience, we ensure that all financial discrepancies are identified and resolved promptly, minimising errors and potential financial losses.
- Time Efficiency: By outsourcing your account reconciliation to us, you free up valuable time for your staff to focus on patient care and other core aspects of your practice, enhancing overall productivity.
- Comprehensive Oversight: Our consultancy provides thorough oversight of all Medical Aid remittances and accounts with your chosen debt collector, ensuring that every transaction is accurately recorded, and discrepancies are promptly addressed.
- Regulatory Compliance: We stay up to date with the latest industry regulations and standards, ensuring that your practice remains compliant with all relevant laws and guidelines.
- Detailed Reporting: With our detailed monthly, quarterly, and annual reports, you gain clear insights into your financial status, helping you make informed decisions and plan effectively for the future. Reports include but are not limited to: Locum Reports, Turnover Reports, Age Analysis, VAT Reports.
- Customisable Solutions: Our reconciliation processes are tailored to meet the specific needs of your practice, providing you with flexible and scalable solutions that adapt to your evolving requirements.
Partnering with NovaMed for your account reconciliation needs ensures that your financial operations run smoothly and efficiently, allowing you to focus on delivering exceptional patient care.
