Background
Sanford Health, the largest rural health system in the United States, is dedicated to transforming the health care experience and providing access to world-class health care in America’s heartland.
Headquartered in Sioux Falls, South Dakota, the organization serves more than 1.4 million patients and nearly 200,000 health plan members across 250,000 square miles. The integrated health system has 48 medical centers, 211 clinic locations, more than 160 Good Samaritan Society senior living centers, 2,900 Sanford physicians and advanced practice providers, 540 active clinical trials and nine world clinic locations around the globe.
Challenge
Across all of its various patient facing points of entry into system, it can be challenging and extremely time-consuming to ensure that Cash, Check and Credit Card payments are not only posted accurately to the appropriate accounts but also reconcile these transactions successfully to the bank. Typically, cash control processes would necessitate shared cash logs/spreadsheets and involve an onerous level of manpower and effort in order to maintain and identify and resolve any variances that arise.
Solution
Through the use of CARS, Sanford Health has been able to automate the dual processes of 1) Reconciling daily receipts to posted payments within it’s various EMR systems and 2) Reconciliation of those receipts to settled transactions within their multiple bank accounts, regardless of banking partner and transaction type, allowing for an accurate accounting of month-end Deposits in Transit.
Result
Leveraging predictive Credit Card/ACH settlement logic and automated manual deposit verification, Sanford has been able to significantly reduce the number of resources required to manage and reconcile the day to day receipts processed through both it’s physical and virtual points of service resulting in both cost savings and assurance of accurate accounting and strong cash controls.