Case 1 Problem: Bank Reconciliation
A medical billing company had to balance a trust account tracking approximately 700 deposits and 1,300 expenditure checks every month. The accounting department had a manual system that couldn't keep up and the staff fell months behind in reconciling the account.
Case 1 Solution
TAP Solutions developed a program to automatically compare the electronic bank statements to the corporate trust account. The program checked to see if there were any discrepancies and created a report highlighting the items that could not be reconciled. This automatic electronic reconciliation program created a 95% time savings over the company's prior manual reconciling of the trust account.
Case 2 Problem: Electronic Claims Submissions
A medical billing company needed to convert from paper billing and mailing to submit claims to electronic claims submission to insurance carriers and their clearing center.
Case 2 Solution:
The medical billing company worked with many insurers who had different formats and claims requirements. TAP Solutions wrote a program that converted the corporate files into the required format for the clearing house and insurance companies. The program could automatically adapt to each carrier's data and coding requirements. The program also automatically noted the confirmations of receipt by the clearing house and explanations of benefits. The program then posted the processed claims data back to the individual accounts. This saved the billing company and the insurance companies a lot of money. The program and electronic processing speeded up the payment process to just days when it previously took weeks and sometimes even months.