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CASH POSTING

What is Cash Posting?

Cash posting is a process by which the payments received from insurance companies, patients and other entities, towards settlement of claims, applied to the respective claims / patient accounts or other accounts in the billing system. Cash team receives the cash files (Check copy and EOB) and applies the payments in the billing software against the appropriate patient account. During cash posting, overpayments are immediately identified and necessary refund requests are generated for obtaining approvals. Also underpayments/denials are informed to the Analysts.

How the cash is generated, received and posted?

The charges submitted to the insurance will be processed payment is made according to the fee schedule. The insurance pays the cash through checks which is deposited in the specified banks date-wise. Each check has its own unique number and date on which the check was issued. The checks along with the claim details are received by the Billing Office in U.S who in turn groups a certain amount together and sends to the billing office here. The details which are received with the checks are known as the EOB (Explanation of Benefits).

The Billing office in U.S scans the Checks and EOB details to the Billing Office here. The Billing Office here receives the scanned documents as files. The received files are then collected by the cash poster who gives the file reference numbers based on the date on which the file was received. Then the cash poster matches the checks with the EOB details. This process is termed as file sorting or Check matching. Now the file had been sorted and the details are posted in the Software which is called as the Cash Posting.

Electronic Posting:

Cash posting can be done either manually or electronically. During manual posting the above said methods are carried on whereas in case of electronic posting the amounts deposited in the bank gets transmitted electronically to the billing office here. The transmitted details are known as Electronic File Transfer i.e. EFT’s. This Eft’s are received by the cash poster with the insurance reference number. Then the Cash poster retrieves the transmitted details and starts posting the cash electronically. In this posting the amounts that are allotted to the claims get identified by the software itself and the respective amounts are posted, for which the detailed EOB’S will be received later.

Once the posting is over the amount posted in the software is tallied with the amount received. Then a detailed report containing the claim and its posting details are taken which is helpful for any future references.

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