Cash Reconciliation Solution (CARS)
CARS is an on-premise Cash Reconciliation Solution which assists both Revenue Cycle and Finance personnel by leveraging tools that automate daily tasks and provide enriched data to allow for comprehensive reconciliation and reporting.
What is CARS?
Originally created over 15 years ago, CARS was designed in partnership with Allina Health and was built specifically for Healthcare Provider Organizations with their unique workflows and needs in mind.
Everything you need
The solution addresses the full spectrum of functionality; addressing everything from the transactions settling in the bank, the application of payments to your patient’s accounts, the journalization of activity to your general ledger, and finally, the comprehensive three-way reconciliation between your bank, your practice management systems, and your cash accounts in the GL.
Features
- Front-end validation, duplicate checking, and error handling of 835s
- Automated association of 835s to payments
- Ability to split 835s between disparate back-end systems
- Electronic handling of intercompany/non-patient A/R transactions
- Acceleration of cash posting process to provide same day posting of receipts to patient accounts
- Management tools and reporting to alert and address processing issues
- Financial reporting of posted/unposted cash transactions
- Automated GL import of cash allocation data for journalization
- Three-way reconciliation between Bank(s), GL, and Billing System(s)
- Seamless integration with existing systems, requiring little or no modification
- Software updates delivered at no additional cost
- Designated account manager available to participate in strategic meetings to ensure that the maximum benefit is being realized
- Ability to easily maintain system to accommodate growth and change
- Fewer resources required to manage the cash reconciliation process
TAKE A TEST DRIVE
Request a free demo of CARS/Beanware today
Together, let’s explore how our solution can help your organization eliminate manual processes through automation while accelerating the cash posting process and requiring fewer resources required to manage cash reconciliation.
