Glossary, billing and revenue
What is payment reconciliation in a clinic?
Payment reconciliation is matching each payment a clinic receives, by card, bank transfer or insurer remittance, to the invoice and visit it pays for. It shows what has been paid, what is short and what is still owed.
Updated . Defined by the wai team for clinics, groups and health systems.
Also called remittance reconciliation or payment matching.
Why Payment reconciliation matters to a clinic
Without it, a clinic knows its bank balance but not which patients or insurers still owe it. Short payments from insurers and refunds that were never matched to a visit are where money quietly disappears.
Reconciliation is also what the accountant needs to close the month. When payments already sit against visits, the month closes from the record rather than from a spreadsheet built at the end.
Questions
How often should a clinic reconcile?
Card payments daily, and insurer remittances as each one arrives. Leaving it to month end turns a five minute check into a day of detective work.
Does the money pass through the software company?
With wai, no. Patients pay into the clinic's own Stripe account. See billing.
See wai on your own clinic.
A 15 minute video call on your own diary, notes and inbox. Prices for clinics, groups and hospitals are on the pricing page.