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.