> Manage Revenue Recognition
You determine when incoming payment batches will be included in the daily collection
report through the Revenue Control System while maintaining integrity with bank deposits
> Queue & Balance to Posted Payments
Automatically queue batches for payment posting, track posting activity, and balance
Revenue Control batches with posted payment batches.
> Implement Structured Workflow
Create stuctured processes based on your business and track all batches as they
progress through the workflow. The Revenue Control System will highlight any exceptions
to normal daily processing.
> Import & Balance Bank Deposits Daily
For walk-ins, call-ins, payment research and any part of the organization, access
bank integration within the Revenue Control System imports bank transactions daily, and
automatically generates Revenue Control batches for any ACH direct deposits, queues all
NSF adjustments and unidentified miscellaneous money for review, and balances all RCS
deposits to bank deposits.
> Net Collections & Discrepancy Reporting
The Revenue Control System includes extensive reporting capabilites using bank deposit
information, posted payment activity, and revenue recognition to decypher end-to-end
payment processing activity.
> Monitor Daily Activity in Real-Time
See up-to-the-minute incoming payment activity, review payment posting queues,
outgoing wires, ACH deposits, lockbox activity, and more.
> Full Audit Trail History
Review all edits and activity using the Revenue Control System's drill through audit
reporting. Drill into any user to review their complete daily historical activity, or any
Revenue Control batch to see all edits plus related activity.
> Check Search and Display
Integration with the remote deposit system allows auto-balancing of all checks with
Revenue Control batches and imports the front and back images of each check. Authorized
users can search for checks by check number, amount, bank account number, deposit
date, and batch number.
> Categorize and Track Receipts
The Revenue Control System (RCS) tracks batches by the payment type, collection point,
and the source of the payment. RCS further breaks down each batch's line items to
capture the payment method (Cash / Check / Credit Card) and the amount to be
attributed to the clinics or hospital.
> Balance Receipts with other Systems of Record
Through application integration, RCS maintains balancing information with other business
systems such as banks, remote deposit systems, credit card providers, patient billing, and
financial accounting systems. RCS automatically balances the systems, identifying
discrepancies to be addressed.This allows personnel to focus on problem areas instead of
the mundane daily balancing or entering redundant information into other systems.
> Report on In Process and Complete Work against Budgets
Through built-in reports, RCS provides an always accurate picture of current and historical
activity.With drill-down capability on the Daily Collections Report, information can be
analyzed down to a granular level. Plus the auto-assignment to Payment Posters and
associated tracking reports provide all personnel a comprehensive picture of current
collection and posting activity.
> Entry Forms that Reinforce Business Processes
RCS has multiple ways to receive and cross-check daily receipts. By mapping your
business processes against RCS, an existing or custom entry form can easily be
configured to match your specific business processes.
> Historical Information and Audit Trails
RCS has built-in auditing of all changes to batch information, thus allowing accurate
historical information at all times. Once a day is closed, RCS restricts change to daily
information to create a complete, auditable system of record.
The first step in implementing a 3 Chopt Software solution is an onsite review of existing
systems, workflow, processes, and identification of key business objectives. By understanding
the workflow and roles of each stakeholder 3 Chopt can tailor the rules, tools, settings
and reporting to meet the specific needs of each client according to their own established
Once installed 3 Chopt will provide training classes to educate staff on the use of Payment
Receipt Journal and Revenue Control System. Typically, employees can begin using PRJ
immediately based on the intuitive interface and overall ease of use. Managers and
Administrators will be provided initial and ongoing training on the various reporting and
monitoring functions and custom reporting needs can be designed into the system.
3 Chopt Software users are supported through our customer support team reachable
24/7 365 days a year to answer questions.
> How does Revenue Control balance with the bank?
A bank file is imported into Revenue Control every day. The import checks the bank classification to determine how to balance with Revenue Control deposits and automatically links all
matching deposits. Whenever the bank does not balance with Revenue Control, a discrepancy
> How does Revenue Control balance to posting systems?
Similarly, a file from IDX is loaded each morning. Any unmatched batches are quickly
identified and resolved. Batches are added to the discrepancies if the batches do not
balance after 7 days.
> How are ACH payments created?
During the import of the bank file, an ACH deposit is created for any new bank activity.
The ACH deposit includes any insurance direct deposits, patient wires, and credit / debit
adjustments to previous deposits. All adjustments are placed in review for follow up.
> Does Revenue Control integrate with any remote check deposit solutions?
Revenue Control is integrated with Bank of America's Remote Deposit System. Revenue Control
imports a file from the system to create balancing entries and discrepancies, and imports
front and back images of each check.
> Does Revenue Control provide assistance for payment research?
Batches can be retrieved by IDX batch number or the Revenue Control batch number. Revenue
Control also provides reports to show all batches that are not balanced with IDX by
queue - with definable queues based on payer and batch type so that Medicare, Blue
Cross/Blue Shield, and other payers are worked by separate desks. Additionally, Revenue
Control contains a check search feature that allows users to search by check number,
check amount, date, and bank account numbers to quickly display front and back images
of a check.
> Can daily activity be monitored easily?
The home page provides a quick glance at receivables for the current day. The drill-down
collection report can be accessed from the system home page for any day that has been closed.
> What if a receivable is incorrectly classified?
Revenue Control provides the ability to re-class any batch. A re-class generates a $0 transaction
by creating a positive batch for the amount to be re-classed and a negative re-class adjustment,
both for the current day.
> How are balancing discrepancies managed?
Revenue Control provides discrepancy screens and reports to assist in correcting mapping
issues between systems. Each discrepancy type has a search screen that looks for
> Can historical data be changed?
Once the day is closed, all batches for the day are locked. Batches can still be deposited
or re-classed, but the information cannot be changed. Similarly, once the month is closed
all of the month's deposits are locked.
> Does Revenue Control have an audit history?
Revenue Control contains full audit trails of user activity and batch changes. Drill through
reports let you switch between the user activity and batch detailed audit reports to cross-
> What other tools are available with the Revenue Control System?
Revenue Control allows users to focus on the exceptions rather than typical daily activity.
The system eliminates many keying errors by cross-checking against other systems.
Auditors that have reviewed Revenue Control are pleased by the ability to view full detail
historical information and the controls that manage changes.