Organizations turn to technology to monitor charge reconciliation

Revenue integrity professionals provide essential support for charge reconciliation, according to preliminary results of the 2022 State of the Revenue Integrity Industry Survey. According to survey respondents, 54% of revenue integrity departments or programs have some level of involvement in charge reconciliation. In some cases that means charge reconciliation is centralized under revenue integrity, while at other organizations operational departments reconcile their own charges with regular support from revenue integrity.

But how are organizations monitoring their charge reconciliation processes to ensure they’re accurate and consistent? According to the preliminary results, 46% use homegrown or third-party technology and automated processes to monitor charge reconciliation, while 40% of respondents indicated they lean on manual processes.

Although there’s no one-size-fits-all solution for charge reconciliation, being aware of industry trends can help you determine whether your organization is in the right spot. Breakthroughs, new ideas, and process improvements are made possible by sharing information. With tips, standards, and perspectives from peers and experts, revenue integrity professionals can sift through the noise to home in on core best practices and build out on them to create the right solution for their organization.

To ensure that the industry has the most complete data available to guide future standards and best practices, take the 2022 State of the Revenue Integrity Industry Survey now. The results will be published in the 2022 State of the Revenue Integrity Industry Report, to be released during Revenue Integrity Week (June 6–10).

Respondents may opt in to a raffle for a chance to win a free webinar (NAHRI members) or a free NAHRI membership (nonmembers). Respondents may also opt in to participate in a roundtable discussion with their peers on revenue integrity industry trends.

Editor’s note: See the raffle rules here.