Effective month-end close processes are essential for Skilled Nursing Facilities (SNFs) and Assisted Living Facilities (ALFs). Accurate financial reconciliation not only supports strategic decisions but also ensures compliance, boosts operational transparency and accelerates cash flow.

Industry’s best practices indicate that streamlined month-end closing procedures can significantly reduce errors, enhance forecasting accuracy, and lower reconciliation costs. According to MBS Accountancy, monthly reconciliation enhances cash management, identifies discrepancies early, and leads to more reliable financial reports.

Healthcare systems that implemented automated reconciliation saved hundreds of thousands—in one case, more than $180,000 annually—by eliminating redundant software and streamlining internal workflows.

The Challenge: Traditional Month-End Processes Fall Short

SNFs and ALFs often face:

• Manual data entry errors
• Disjointed systems without unified reconciliation
• Incomplete ledger matching between charges, payments, and adjustments
• Time-consuming bank and vendor reconciliations
• Lack of timely reporting for administrators

These issues not only hinder decision-making but also pose risks during audits and regulatory reviews.

LTCPro's Solution: Precision, Speed, and Visibility

LTCPro transforms month-end workflows by combining automation, expertise, and real-time insights:

1. Automated Transaction Capture

All billing, payroll, vendor invoices, and payments are captured through integrated systems, eliminating manual work and ensuring data consistency and accuracy.

2. Systematic Reconciliation Checklists

Following the best practices, LTCPro apply a standardized monthly procedure: ledger entries, bank & credit card reconciliations, journal entry updates, and financial statement alignment.

3. Unified Ledger Matching

Bank transactions, payer remittances, ERA/EOBs, and vendor invoices are automatically matched in the ledger, reducing errors and enabling faster closing.

4. Reporting & Analytics Dashboards

Custom dashboards provide a clear snapshot of operational metrics—revenue, expenses, AR age, payroll, and vendor balances—enabling leadership to act with complete confidence.

5. Audit-Ready Documentation

Every reconciliation step, entry adjustment, invoice, and payment approval is fully documented and timestamped creating a robust audit trail and easing compliance reviews.

The Results: Measurable Benefits

• Faster monthly close cycles—in some cases, minutes instead of days
• Significant reduction in transaction discrepancies and adjustments
• Accurate cash forecasting and improved budget management
• Enhanced governance and audit preparedness
• More time for administrators to focus on resident care, not spreadsheets

Like the healthcare system that cut $180,000 in costs while improving reporting, and LTCPro bring similar efficiency and control to long-term care providers.

Scaling Seamlessly Across Facilities

Whether your organization spans one facility or a network of locations, LTCPro ensures consistent processes and standardized reporting on a scale. Month-end close becomes a streamlined, reliable event—not a chaotic scramble.

LTCPro: Your Partner for Confident Closure

LTCPro's month-end services deliver:

• End-to-end reconciliation workflows
• Payroll-to-bank verification
• Vendor invoice and payment alignment
• Comprehensive financial reporting
• Custom KPI and performance dashboards

Imagine closing the books confidently every month—thanks to proactive systems, expert teams, and innovative technology.

Ready to turn your month-end process from a burden into a performance booster?

Let's explore how LTCPro can streamline your reconciliation workflows and empower your facility with financial clarity.

Visit www.ltcpro.com or contact our team to schedule your month-end optimization review.