Reconciling insurance payments ensures all insurance payments are correctly accounted for and posted in Patient Studio.
If you are looking for how to ensure the insurance company pays you everything they owe you, check out How to work insurance claims.
There are two approaches to reconciliation:
By Deposit Date (✅ Recommended)
By Posted Date
1. Reconciling by Deposit Date (✅ Recommended)
Most practices recognize revenue on the date the money is actually received in the bank account.
We recommend reconciling at the end of every month. To complete this process, you will need a copy of your bank statement.
Step 1: Run the Insurance Collected Report
Run the Insurance collected report with the deposit date range you are reconciling.
Step 2: Verify the Paid Amount Matches the Bank Deposit
For each row:
Step 2.1 Confirm deposit exists
Make sure the paid amount in Patient Studio also appears on your bank statement. If not, investigate:
Check/Quick Remit misplaced: Payment was received but never deposited.
Not entered into Patient Studio: Money exists in the bank, but the EOB was never entered. Manually enter the EOB.
Wrong Deposit Date: If the deposit date differs between your bank and Patient Studio, update the deposit date in Patient Studio.
⚠️ Root Cause: ACH deposit dates can be off by 1–2 days (weekends/holidays). For checks or Quick Remits, the EOB often shows the issue date, not the deposit date.
Always update to the actual date received.
Step 2.2 Verify amounts match
The amount posted in Patient Studio should equal the bank deposit.
✅ Green check = correct
❌ Red X = mismatch
Troubleshooting mismatched amounts:
Duplicate ERAs: Two ERAs with the same check number. Delete the duplicate.
Posted incorrectly: ERA not applied correctly, or paper EOB missing payment detail.
Did not post: ERA exists but no payments were posted.
2. Reconciling by Posted Date
Some practices reconcile using the Posted Date of payments in Patient Studio.
Step 1: Run the Insurance Collected (payments tab)
Set the Posted Date range for the period you are reconciling.
Step 2: Verify the Amounts and Deposits
Step 2.1 Confirm posted amounts
Make sure the amounts posted in Patient Studio match the EOBs.
Same troubleshooting as above:
Duplicate ERAs
Posted incorrectly
Not posted
Posted Date Vary: All EOBs for the same ERA must share the same posted date.
Step 2.2 Confirm bank deposits
Ensure all posted payments are reflected in your bank account.
2.1 Drawbacks of Posted Date Method
Requires more attention to detail to ensure all posted dates match per ERA.
May involve manual manipulation of posted dates.
Can make end-of-month reconciliation more complex.
✅ Best Practice: Use Deposit Date reconciliation to keep financial records aligned with actual bank activity and simplify monthly close processes.