Case Study: Saint Francis Health System achieves 88% faster bank reconciliation and improved cash flow with Waystar Remit and Deposit Management

Automated payment reconciliation improves productivity and cash flow

Saint Francis Health System, through St. Francis Physician Services, operates 58 medical practices with 304 providers and faced a fragmented revenue cycle: five different AR systems and a centralized finance team spending six full-time employees (240 hours/week) on manual remit and deposit reconciliation. The inefficiency caused month-long lags, posting errors, follow-ups on funds already in the bank, and elevated AR days, so they engaged Waystar and its Remit and Deposit Management solution to address the problem.

Waystar implemented Remit and Deposit Management, centralized workflows, moved EFT reconciliation into revenue cycle, and reallocated staff—automating reconciliation and posting and integrating with existing systems. The results: bank reconciliation time cut by 88%, posting speed up 98%, AR days reduced by 5–6 days (from 33–34 to 28–29), match rates improved from 70% to a stable 90–95%, staff hours for reconciliation fell from 240/week to under 30/week, 90% of payments now auto-post, month-end variances shrank to $25–30K, and the organization can process about $8M/month (posting $1M before lunch).

Saint Francis Health System

Bryan Byrd

Financial Analyst