LedgerMatch
Bank Reconciliation Software for Medical & Healthcare Practices
Medical practices receive payment from a complex mix of sources — insurance ERA (electronic remittance advice) deposits from Medicare, Medicaid, and private insurers, patient copays via POS terminal, and patient balance payments via mail or patient portal. Each source deposits on a different schedule and with a different amount than what's in your practice management software. LedgerMatch matches every insurance ERA deposit and patient payment against your QuickBooks or Xero ledger in under 10 minutes — giving medical practice bookkeepers a clean reconciliation without hours of manual matching.
Common reconciliation challenges for medical practices
- Insurance ERA deposits arrive days after the claim — and the deposit amount is net of contractual adjustments, so it never matches the billed amount in the ledger
- Multiple insurance payers (Medicare, Medicaid, BCBS, Aetna, UHC) each deposit on their own schedule, creating dozens of small deposits that are hard to match manually
- Patient copays, deductibles, and patient balance payments add another layer of small deposits that must be reconciled against the practice management system
How LedgerMatch helps
- Tolerance matching handles insurance ERA net deposits — flag the contractual adjustment difference in the exception queue with a note
- 97% auto-match rate across all payers means medical bookkeepers spend minutes, not hours, on monthly bank reconciliation
- Exception queue gives a clear list of unmatched insurance deposits and patient payments for manual review and annotation
Industry note
Medical practices must reconcile accounts receivable to insurance ERA deposits for accurate revenue recognition. LedgerMatch's clean bank reconciliation export gives medical bookkeepers the bank-side data needed to complete the A/R-to-deposit reconciliation required for Medicare and Medicaid cost reporting.
Common banking and accounting tools
- Wells Fargo
- Chase
- Bank of America
- US Bank
- Fifth Third
- QuickBooks Online
- Kareo
- DrChrono
- AdvancedMD
- Xero
Explore related resources
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