Fintra for Healthcare
Finance for practices where revenue arrives 39 days late
Why practice finance is harder than it looks
A clinic’s revenue cycle runs on payer timelines, not invoice terms. What you bill is not what you collect, when you collect depends on payer mix, and a multi-location group needs a clean P&L per site to know which clinics actually make money.
- Payer mix: commercial, Medicare, Medicaid, and self-pay each collect at different rates and speeds.
- Reimbursement lag: cash lands 30–60 days after the visit, so bank-balance management fails.
- Per-location P&L: shared costs must be allocated across sites or every clinic looks profitable.
- Compliance burden: audits and payer reviews demand clean documentation of the books.
How Fintra maps to healthcare finance
- AI accounting maintains location-dimensional books, allocating shared costs so each site has a true P&L.
- Cash flow forecasting models collections by payer lag rather than assuming billed equals collected.
- Compliance in Fintra Trust keeps controls and documentation audit-ready year-round.
- Payroll handles clinical and admin staff on a verified tax engine; bill pay and expense management keep vendor spend coded by location.
What a clean monthly close should give a group practice
- P&L by location with shared costs allocated on a documented basis
- AR valued by payer class, not face-value charges
- A 13-week cash forecast built on payer lag assumptions
- A compliance trail for every adjustment made in the close
A worked payer-lag example
Weighted collection lag
(60% × 45 days) + (40% × 30 days) = 27 + 12 = 39 days
Illustrative example: the payer-mix-weighted lag drives how billed revenue converts to cash in the forecast.
Generic stack vs Fintra
| Workflow | Spreadsheets + generic tools | Fintra |
|---|---|---|
| Per-location P&L | Manual allocation workbook after the close | Location dimension on every transaction, allocations in the close |
| Cash forecasting | Bank balance plus gut feel | Payer-lag-driven 13-week forecast |
| Compliance prep | Scramble to reconstruct documentation at audit time | Continuous controls and audit trail via Fintra Trust |
| Payroll | Separate payroll vendor, re-keyed journal entries | Native payroll posting straight to location-coded GL |
Continuous controls for healthcare providers.
Fintra tests every transaction, not a sample; only the items that fail open an exception; each exception carries a sealed record of what was checked; the record is mapped to the SOX 404 control it tests; an auditor reviews it through time-limited access.
| Control | How it is checked | Framework | Status |
|---|---|---|---|
| Refund / write-off approval | Tested continuously by the dual-approval test handler on every patient refund and payer-overpayment return over threshold. | SOX-CA-02 · Dual approval | Tested today |
| Supply-vendor bank-change review | Tested continuously by the vendor bank-detail change-review handler on supply and equipment vendors. | SOX-CA-09 · Vendor bank-change | Tested today |
| Month-end close checklist | Tested continuously by the month-end close-checklist handler. | SOX-CA-10 · Close checklist | Tested today |
| Charge-capture integrity | Planned: charge-capture completeness against the encounter record; the population is not yet wired. | Roadmap · charge capture | Planned |
Only the controls marked tested today run against your real transactions now. Planned and attestation controls are listed so you can see the full scope; where Fintra cannot test something, it says so instead of reporting a pass. It works beside your GRC tool and your external audit, not instead of them.
How continuous testing worksQuestions people ask
Can Fintra produce a P&L for each clinic location?
Yes. Every transaction carries a location dimension, and shared costs like billing staff or a central admin office are allocated across sites on a basis you define. Each close produces a true per-location P&L, so you can see which clinics earn their keep instead of judging the group on a blended number.
How does Fintra handle reimbursement lag in cash forecasting?
Fintra’s forecasting models collections by payer class and typical lag, for example commercial at 45 days and Medicare at 30, instead of assuming billed revenue is cash. The result is a 13-week cash view that reflects when money actually arrives, which is what keeps payroll and rent decisions safe.
Does Fintra replace my practice management or billing system?
No. Your PM system remains the source of claims and clinical billing. Fintra is the finance layer: it takes billed and collected activity into a clean general ledger, runs the close, allocates costs by location, forecasts cash, and manages payroll, bill pay, and expenses: the 5–7 tools around the PM system.
How does Fintra help with healthcare compliance and audits?
Fintra’s compliance module, part of Fintra Trust, keeps financial controls documented and every close adjustment traceable. When an audit or payer review arrives, the supporting trail already exists (who changed what, when, and why) instead of being reconstructed from email threads and old spreadsheets under deadline.
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