How it runs for clinical laboratories
Whatever does not match goes on an exception log with an owner and a date, never into a suspense account that quietly grows.
What is a bank reconciliation service?
A bank reconciliation service compares the transactions in your accounting software with the transactions on your bank and credit-card statements and explains every difference. The goal is a ledger balance that agrees with the statement after timing items such as outstanding checks and deposits in transit. Done monthly, it catches missing entries, duplicates, bank errors and fraud early.
What we handle for clinical laboratories
- Medicare MAC, Medicaid and commercial EFTs matched to posted remittance batches
- Client checks and ACH receipts matched to invoices using remittance stubs
- Patient card and portal payments reconciled net of processor fees
- Company cards, courier fuel cards and analyzer financing reconciled to statements
- Exception log with an owner and a resolution date for every unmatched item
The KPI that matters here
No unreconciled bank item older than 30 days at any month-end.
Clinical labs compliance notes
CLIA
Every lab that tests human specimens must hold a CLIA certificate matched to the complexity of its testing, renewed on a two-year cycle with fees based on test volume. We record certificate fees, proficiency-testing subscriptions and inspection-related costs as compliance expenses and keep renewal dates on the close calendar. Certification and inspection readiness stay with your lab director.
Payer rules and PAMA
Medicare pays lab tests from the Clinical Laboratory Fee Schedule, commercial payers pay contract rates, and both apply medical-necessity and frequency rules that produce denials. PAMA private-payer rate reporting also falls on applicable labs in reporting years. We keep revenue, adjustments and denials in separate accounts so your billing team and CPA can see each effect.
HIPAA
Remittances, client invoices and LIS exports carry patient identifiers and test names. Our staff are HIPAA-trained, we sign a BAA, all access is logged with MFA, and exports are handled inside your systems and our portal rather than on local drives.
Anti-kickback and EKRA
The federal Anti-Kickback Statute and the Eliminating Kickbacks in Recovery Act restrict how labs pay marketers and how they price or discount services for referral sources. We record sales compensation and client discounts exactly as your compliance counsel has approved them, and flag any arrangement that looks volume-based so it can be reviewed. We do not give legal advice.
Clinical labs software we work in
- QuickBooks Online
- Sage Intacct
- Bill.com
- ADP
- LIS exports (Orchard, Sunquest, SCC Soft)
- XIFIN
- TELCOR
- All 50 platforms
More for clinical laboratories
Other services for clinical labs
Bank reconciliation in other industries
Frequently asked questions
Why does our billing-system cash report never match the bank?
Timing, netting and channel mix. Remittances are posted when the 835 arrives while the EFT may land days apart, card payments settle net of fees, and client checks are posted against invoices rather than claims. We reconcile by matching each posted batch or invoice payment to its deposit and recording timing and fee differences explicitly. What remains is usually an unposted remittance or a duplicate.
How do you handle Medicare offsets and recoupments?
When a MAC nets an overpayment against a new remittance, the deposit is smaller than the posted payments. We record the offset against the original claim or the overpayment liability so the bank reconciles and the aging stays right, and we flag it on the exception log the same week for your billing team.
Can you reconcile lines of credit and analyzer financing too?
Yes. Every loan, line of credit and equipment lease is reconciled to the lender statement monthly with interest and principal split correctly. Draws and repayments on a line of credit are matched to bank activity, so the balance sheet shows the true position when a lender asks for covenant figures or when you plan an analyzer purchase.
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